Foxconn slashes 50K jobs over lower iPhone demand - report

Friday, 18. January 2019 11:34

Apple Inc.'s major chip supplier Foxconn Technology Group has cut around 50,000 temporary jobs at its Zhengzhou factory since October as a result of lower demand for the latest models of iPhones, Nikkei Asian Review reported on Friday.

According to a source familiar with the matter, the seasonal workers are usually given monthly contracts from August until January, but in 2018 Foxconn began letting assembly workers go before the end of December.

Earlier this month, Apple lowered its guidance for the first quarter of 2019, citing several factors, including China’s weakening economy and worse-than-expected iPhone sales.

Related Links: Apple Inc.
Breaking the News / NP