24 April 2019

Foxconn to cut mainland export weighting, paper says

Taiwan’s Foxconn Technology Group, a supplier to Apple Inc., will cut the proportion of its exports from the mainland to between 55 percent and 60 percent from 90 percent, United Daily News reported Wednesday, citing a Financial Times interview with chairman Terry Guo. In addition, the company will increase domestic sales and create more job opportunities. Young people across China are increasingly shunning monotonous, low-paying assembly-line jobs, leaving Foxconn struggling to attract enough workers, Guo was quoted as saying. Foxconn is upgrading its training program and automating its assembly lines amid a labor shortage, the report said. 

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