Apple supplier Foxconn Technology Group has recently increased the pay and bonus packages for newly recruited employees at the world’s largest iPhone factory located in Zhengzhou, China. This move aims to enhance the compensation and benefits offered to individuals joining the company at this key manufacturing facility.
By increasing compensation and providing bonuses, Foxconn seeks to ensure the continued dedication and productivity of its workforce at the Zhengzhou plant, which plays a crucial role in iPhone manufacturing.
Foxconn has introduced a bonus of 3000 yuan ( $424) for new employees at its factories. To qualify for this bonus, individuals are required to work a minimum of 90 days at the factory, earning an hourly pay rate of 21 yuan.
This incentive aims to attract and retain talent by providing an additional financial benefit to those who join the company and commit to a substantial duration of employment. By offering such incentives, Foxconn strives to create a more attractive work environment and reinforce its workforce at its factories. As per a WeChat post by the official Foxconn account, existing workers are eligible to receive a referral bonus of 500 yuan ($71)
Foxconn has recently made two separate increases to worker benefits within the span of a month. On May 3, the loyalty bonus for new recruits who stayed employed for three months at Foxconn was set at 2,000 yuan. However, as of May 22, this bonus has been increased to 2,500 yuan.
In September this year, Apple is expected to unveil the iPhone 15, and production of the new device is projected to commence at the Zhengzhou facility. The Zhengzhou facility, with the capacity to accommodate approximately 200,000 workers, is expected to gear up for production towards the latter part of the year.
Although mainland China continues to serve as Foxconn’s main manufacturing base, the company has sought to diversify its production in response to increasing labor costs and disruptions caused by stringent Covid-19 controls in the previous year. This diversification has led Foxconn to expand its manufacturing operations to countries such as India and Vietnam.
India is expected to play a major role as a production facility for Apple. Foxconn has announced plans to expand its production facility in Chennai, South India. With the recent acquisition of Taiwanese firm Wistron Corp’s factory in southern India, industrial giant Tata Group is now positioned to become Apple’s fourth contract manufacturer for iPhones, solidifying its role in Apple’s global supply chain.
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(via)
