HTC said earlier this month that it planned to make “significant” job cuts in an effort to reduce costs, and today the company shed more light on those plans.

HTC today announced a “business realignment” plan that’ll include a 15 percent reduction in jobs. The decision is part of an effort to streamline operations that HTC expects will reduce its operating expenditure by 35 percent. It’s unknown exactly which jobs will be cut.

Also included in HTC’s business realignment plan is the creation of new business units that’ll place more focus and growth in the areas of premium smartphones, virtual reality, and connected lifestyle products. HTC has been getting a lot of praise for its Vive VR headset lately, and it recently teased an “entire product portfolio for health and fitness” that’ll come in 2015, both of which show that it is indeed placing more focus on those areas of its business. 

Here’s what HTC CEO Cher Wang had to say about the new business realignment:

“HTC is an inspirational company driven by innovative people, with a unique blend of expertise in hardware and software integration, advanced technology and world-class design. Now, as we diversify beyond smartphones, we need a flexible and dynamic organization to ensure we can take advantage of all of the exciting opportunities in the connected lifestyle space. This strategic realignment of our business will ensure that each product group has the right focus, the right resources and the right expertise to win new markets.”

Do you think HTC is going to be able to turn things around?