Foxconn Increasing Pay By 66%, Depending On Performance
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Controversial Chinese manufacturing company Foxconn has increased wages by 66%. The Chinese company has received pressure to make changes due to 11 recent employee suicides. First 20% increase was offered, then 30%, and even Apple offered to help out too.
However to qualify for the 66% raise, it depends on a three month performance review. If qualified, an employee’s salary will be raised from $132 per month to $292 per month in equivalent to Chinese Yuan currency. Foxconn is the plant that manufactures the iPhone and iPod. [Reuters]