Foxconn China Workers’ Salaries Jump 70%

Less than a week after announcing a 30 percent pay raise for its workers, electronics giant Foxconn said it will hike wages by another 66 percent beginning in October. The company said it hoped the pay raise would help increase the incomes of its employees and enable them to reduce overtime work and have enough time for leisure activities. Terry Gou, the Taiwanese founder of Foxconn, said in a statement the wage increase was intended “to safeguard the dignity of workers.” The increased wages are significant as they come against a backdrop of suicides, strikes and partial shut-downs, which are most unusual in this country. When hundreds of workers recently walked off the job at a Honda plant for two weeks, Honda was forced to increase the workers’ pay by up to 32 percent. Last Thursday Beijing announced it would raise its minimum wage 20 percent (to roughly $140 a month). More…

News selected by Covalence | Country: China| Company — EthicalQuote link: Honda, Hon Hai Precision Industry Co. Ltd. | Source: abc News