China floods: Foxconn, Apple’s largest supplier, rushes to hire workers with record-high cash bonuses
- Foxconn is offering a signing bonus worth up to US$1,532 to people willing to work on the production line as Zhengzhou copes with aftermath of flooding
- Apple’s next generation of iPhones are expected to launch in September
The world’s largest iPhone factory, located in the central Chinese city of Zhengzhou, is raising its cash rewards for new workers to yet another record-high as Foxconn Technology Group ramps up production capacity amid extreme levels of rainfall that has led to the death of at least 56 people and displaced more than 7.5 million.
The Taiwanese company’s integrated Digital Product Business Group (iDPBG) unit – a division of Foxconn that is responsible for iPhone assembly – is offering up to 10,000 yuan (US$1,542) as a signing bonus to people who are willing to work on the factory’s production line as the city continues to struggle with the aftermath of the flood.
New iDPBG workers will get a signing bonus ranging from 8,500 to 9,500 yuan after working on the production line for 90 days, according to the company’s latest recruitment ad. Those who refer new workers will also get a bonus of 500 yuan, bringing the total cash rewards to 10,000 yuan.
Apple is targeting to ship 130 to 150 million new iPhone units for the second half of 2021, according to Dan Ives, managing director at investment firm Wedbush Securities, in a research note published in June. Its supply chain in Asia will enable the production of 90 to 100 million units to meet the initial orders for iPhone 13, Ives said.