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Electronics Production | May 30, 2012

Will Foxconn double wages?

Foxconn may double the minimum monthly salary of its workers in mainland China according to Chinese-language paper Want Daily.

Foxconn Chairman and President Terry Gou announced at a function on May 16 that he would like to see staff wages doubled to 4,400 yuan (690 USD) by the end of 2013, according to sources cited by the paper. The increase would add to the previously announced wage hikes by Foxconn. “The company's first salary bump alone, which applied to 800,000 staff, represented a spike of around 200 million yuan (US$31.5 million) in additional monthly company expenditures,” reports Want China Times, the Want Daily's sister paper.
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