Apple's manufacturing partner Foxconn Technology Group has frozen hiring at a Shenzhen plant that makes gadgets including the iPhone 5 and put the brakes on recruiting for other factories across China, but said the move was not linked to any single client.
Foxconn runs a network of factories across the world's second biggest 2 economy that make products for technology companies from Hewlett Packard to Dell. It sought to pour cold water on a Financial Times report that it had imposed a hiring freeze while it slows production of Apple's latest smartphone.
"Due to an unprecedented rate of return of employees following the Chinese New Year holiday compared to years past, our company has decided to temporarily slow down our recruitment process," the company said in a statement.
"This action is not related to any single customer and any speculation to the contrary is false and inaccurate."
Like other Chinese contract manufacturers, Foxconn, the trading name of Taiwan's Hon Hai Precision Industry, relies on a large number of migrant labourers from across the country who journey home for the most important holiday of the year. Many do not make it back to work, but Foxconn spokesman Louis Woo said this year they saw as many as 97 per cent of employees return.
A Foxconn recruitment centre in an industrial suburb of Shenzhen, where job-seekers register their names and mobile numbers, was closed on Thursday.
"I've waited here four days now and I've spent a lot," said Yang Jun, a hopeful migrant from Shanxi province, in northern China. "I'm not sure how long I can hold out. If they don't contact me soon I'll have to leave."
Apple sold a less-than-expected 47.8 million iPhones in the 2012 holiday quarter, fanning fears that its dominance of consumer electronics is on the decline as Samsung and other manufacturers that use Google's Android software gradually gain market share.
Apple watchers often take cues from its component suppliers and manufacturing partners. In January, Apple chief executive Tim Cook took the unusual step of warning investors that it is difficult to extrapolate from limited "data points".
RBC estimates that just 70 to 80 per cent of Chinese workers return to factories it tracks.
"This year we believe the return rates have been closer to 90 percent, which may minimize the need to hire," RBC analyst Amit Daryanani wrote in a Wednesday research note.
"Given the timing of the freeze, it may have more to do with higher return rates of employees versus what was expected by Foxconn and other supply chain companies."
* Reuters
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Company profile
Company: Eighty6
Date started: October 2021
Founders: Abdul Kader Saadi and Anwar Nusseibeh
Based: Dubai, UAE
Sector: Hospitality
Size: 25 employees
Funding stage: Pre-series A
Investment: $1 million
Investors: Seed funding, angel investors
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
COMPANY%20PROFILE
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'Laal Kaptaan'
Director: Navdeep Singh
Stars: Saif Ali Khan, Manav Vij, Deepak Dobriyal, Zoya Hussain
Rating: 2/5
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
How much sugar is in chocolate Easter eggs?
- The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
- The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
- The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
- The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
- The Cadbury Creme Egg contains 26g of sugar per 40g egg
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills