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
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
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
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