Workers at Foxconn’s Yukang dormitory compound in Zhengzhou queue up to resign from their jobs which attract a basic salary of 2,100 yuan (US$314) per month. Photo: Cissy Zhou/SCMP

Foxconn, a tale of slashed salaries, disappearing benefits and mass resignations as iPhone orders dry up

  • Workers line up on a daily basis to leave the world’s largest iPhone assembly plant in China’s Henan province as overtime opportunities plunge
  • Apple CEO Tim Cook announced in January a 5 per cent fall in fourth quarter revenue, attributed in large part to weaker demand for new iPhones in China
Topic |   China economy

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Workers at Foxconn’s Yukang dormitory compound in Zhengzhou queue up to resign from their jobs which attract a basic salary of 2,100 yuan (US$314) per month. Photo: Cissy Zhou/SCMP
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Activity in the non-manufacturing sector, which includes services and construction, also slowed, with the sector index dropping to 54.3 in February from 54.7. Photo: Xinhua

China economy slows further as manufacturing sector PMI contracts for third straight month

  • February’s manufacturing index drops to 49.2 from 49.5 in January after analysts had predicted an unchanged reading
  • Composite purchasing managers’ index falls to its lowest level in two years at 52.4 from 53.2
Topic |   China economy

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Activity in the non-manufacturing sector, which includes services and construction, also slowed, with the sector index dropping to 54.3 in February from 54.7. Photo: Xinhua
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