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**freflellalafe** · 05-31-2010, 09:30 PM

Jun 2, 2010
Foxconn wages to rise 30%

TAIPEI - TAIWAN'S Hon Hai Precision Industry plans to raise workers' salaries by 30 per cent at its Foxconn manufacturing hub in southern China, more than originally planned, a spokesman said, following a string of apparent suicides there. Taipei-based Hon Hai spokesman Arthur Huang said on Wednesday the increases will take effect immediately. The company's shares fell 2 per cent as it moved to quell a storm of bad publicity over the deaths.Hon Hai said with the higher wage increase it wanted to reflect rising prices in the mainland, and also hoped to earn the respect of workers and raise efficiency.

'Raising salaries will impact Hon Hai's costs, pressuring their ability to make a profit,' said Tom Tang, vice-president at Masterlink Investment Authority in Taipei. He added, however, that it was also a way to impress foreign investors. The company, maker of Apple Inc's iPhone among other top-brand electronic products, had said last week that it had planned for some time to raise wages for Foxconn workers by 20 per cent. A total of 10 workers have died at the company's sprawling production base in southern China this year, all apparently suicides. The company has faced mounting public anger and questions from its major clients, including Apple. -- REUTERS

05-31-2010, 09:30 PM	#10
freflellalafe Join Date Oct 2005 Posts 661 Senior Member	Jun 2, 2010 Foxconn wages to rise 30% TAIPEI - TAIWAN'S Hon Hai Precision Industry plans to raise workers' salaries by 30 per cent at its Foxconn manufacturing hub in southern China, more than originally planned, a spokesman said, following a string of apparent suicides there. Taipei-based Hon Hai spokesman Arthur Huang said on Wednesday the increases will take effect immediately. The company's shares fell 2 per cent as it moved to quell a storm of bad publicity over the deaths.Hon Hai said with the higher wage increase it wanted to reflect rising prices in the mainland, and also hoped to earn the respect of workers and raise efficiency. 'Raising salaries will impact Hon Hai's costs, pressuring their ability to make a profit,' said Tom Tang, vice-president at Masterlink Investment Authority in Taipei. He added, however, that it was also a way to impress foreign investors. The company, maker of Apple Inc's iPhone among other top-brand electronic products, had said last week that it had planned for some time to raise wages for Foxconn workers by 20 per cent. A total of 10 workers have died at the company's sprawling production base in southern China this year, all apparently suicides. The company has faced mounting public anger and questions from its major clients, including Apple. -- REUTERS
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