Foxconn slows new hiring at China factories, denies move linked to weak iPhone demand
SHANGHAI (AFP) - Taiwan technology giant Foxconn has slowed new hiring at its vast China factories, it said Thursday, but denied the move was linked to weak demand for Apple's iPhone 5, which it produces.
"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," Foxconn Technology Group said.
China's migrant workers go home for the annual Lunar New Year holiday and immediately after the long break companies typically report labour shortages as employees delay their return or fail to go back to their previous jobs.
The Financial Times newspaper reported Wednesday that Foxconn had frozen China hiring due to reduced orders for Apple's iPhone 5.