The company is reportedly planning steep cuts in expenses in 2019, as they begins shift towards automation
Taiwan News
Date: 2019/01/22
By: Duncan DeAeth, Taiwan News, Staff Writer
File Photo (By Associated Press)
TAIPEI (Taiwan News) – The Foxconn corporation may be suffering as a result of the ongoing U.S.-China trade conflict, with reports that nearly 50,000 people working for the company were laid off in China as a result of poor iPhone sales.
Meanwhile, in the United States, the company has reportedly failed to meet its requisite quota for job creation in the state of Wisconsin, and will not qualify for any state tax incentives there for the 2018 fiscal year.
Since October 2018, Foxconn has laid off over 50,000 people at their plant in Henan. The high number of lay-offs was initially a matter of speculation, but it was indirectly confirmed on Jan. 21 by a spokesperson for the National Bureau of Statistics of China, reports China Times.
Nikkei News which originally reported the lay-offs in early October said that Foxconn was planning to cut their work force in China by as many as 100,000. [FULL STORY]
