Foxconn Plans To Recruit 50,000 Employees In Q1 2019 After Job Cuts Report

In the middle of the previous reports of staff redundancy, the assembler of Apple Inc’s iPhones – Taiwan’s Foxconn – stated that it was enlisting for over 50,000 employees in its campuses in China for the first quarter.

Foxconn, previously named Hon Hai Precision Industry, is one of the largest contract manufacturer in the world, stated in a stock exchange filing that replacing the total of employees were common adjustments which depended on its global strategy as well as clients’ needs.

It was reported by Nikkei last week that Foxconn had laid off approximately 50,000 contractors since October, which was several months before the contract ended.

However, it was also reported that thousands of regular staffers and temporary contract workers quit on their own accord due to lack of weekend work, diminished overtime opportunities, and canceled or reduced peak-season bonuses, according to a survey by Reuters in Foxconn’s campus in Zhengzhou, central China.

As stated by the company, efforts are now being made in order to recruit for over 50,000 positions across campuses in China in the first quarter of 2019.

Nikkei's report popped up weeks after Apple's downsizing its quarterly production of new iPhone models by 10 percent since the company was facing slowing sales in China, the largest smartphone market across the globe. Samsung, as well as other tech firms also anticipated a slower tech industry in 2019.

Lately, in December, Foxconn announced that after Apple cut down iPhone production units, its revenue went down by 8 percent. And it is not the only Apple suppliers in Asia that is affected by the reducing in demand for Apple’s product. It is reported that another supplier which was specifically Taiwan Semiconductor Manufacturing Co (TSMC) was also affected by the event. It is estimated that TSMC’s revenues will decline by 22 percent, while they will decline 9 percent year over year.