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Exclusive: Apple Supplier Foxconn To Shrink Workforce As Sales Growth Stalls

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy Omniscient Member

Ron Burgundy

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To match SPECIAL REPORT CHINA-LABOUR/By Michael Gold and Yimou Lee SHENZHEN, China (Reuters) - Taiwan's Foxconn Technology Group, the world's largest contract electronics manufacturer, will cut its massive workforce, the company told Reuters, as the Apple Inc supplier faces declining revenue growth and rising wages in China. Under its flagship unit Hon Hai Precision Industry Co Ltd , the group currently employs about 1.3 million people during peak production times, making it one of the largest private employers in the world. Revenue growth at the conglomerate tumbled to 1.3 percent in 2013 and only partially recovered to 6.5 percent last year after a long string of double-digit increases from 2003 to 2012.




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