• Tech - News - Tech Companies
  • Updated: November 28, 2022

Foxconn Offers $1,800 Bonus To Employees Who Remain In iPhone City

In an effort to maintain the personnel levels required to run the largest iPhone manufacturing in the world, Apple Inc. partner Foxconn is providing bonuses of up to $1,800 to current employees at its Zhengzhou location.

Foxconn, also known as Hon Hai Precision Industry Co, will increase salaries for full-time employees who started at the beginning of November or earlier by up to 13,000 yuan per month in December and January, the company announced in a notification over the weekend.

To evict newcomers who had taken part in violent protests over virus lockdowns, Foxconn last week offered comparable bonuses for employees choosing to leave its campus.

The disproportionately large award underscores Foxconn's pressing need to restart its assembly lines at full capacity following a month of grappling with Covid limitations and disruptions that ended in turmoil last week.

The majority of Apple's iPhone Pro models are put together in the Zhengzhou facility, which typically employs more over 200,000 people.

The protests are said to have caused more than 20,000 new hires to leave.

Both Foxconn and Apple have stated their commitment to maintaining employee safety and that they are collaborating closely to resume business.

Apple's most popular devices this year are the iPhone 14 Pro and Pro Max, which help to make up for the normal iPhone 14 models' declining sales.

The Foxconn incident serves as yet another warning to Apple about the risks of relying on a sizable production system headquartered in China in an era of unpredictable policies and shaky trade ties.

Just in time for the busy holiday shopping season, the US business issued a warning this month that shipments of its newest luxury iPhones will be lower than anticipated.

Early this month, Morgan Stanley analysts reduced their predictions for the current quarter's production of the iPhone Pro by 6 million units.

In the worst-case scenario, Foxconn might lose up to 36% of iPhone sales or 20% of its quarterly income if protracted lockdowns affect Zhengzhou assembly.

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Lawrence Agbo
Lawrence Agbo

Lawrence is a vibrant digital journalist that loves creating SEO-focused content that drives busines...

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