Foxconn, the electronics manufacturing facility in central China, has seen a significant increase in hiring over the past two weeks. The company has reportedly added around 50,000 new workers.
This surge is in preparation for the launch of the Apple iPhone 16 series, expected to debut in about a month.
To attract more workers, Foxconn is said to have increased wages, offering up to 25 yuan (around $3.48) per hour, along with bonuses for those who stay on the job for a full quarter. Workers who remain for three months may receive a bonus of approximately 7,500 yuan ($1,045). The increased production demands have also led to extended working hours, with daily overtime often exceeding two hours since mid-July.
This large-scale manufacturing effort is expected to have a significant impact on the supply chain, benefiting component suppliers and semiconductor manufacturers in the latter half of the year.
Apple has already started assembling iPhones at the Wistron plant in Bengaluru, now owned by thevTata Group. Foxconn, which currently has over 40,000 employees in India, aims to double its workforce this year. This was announced in December 2023, after the company pledged an initial investment of $600 million in Karnataka for two projects, in August 2023.
In 2022, reports had indicated that Foxconn aimed to hire an additional 53,000 workers within two years, aiming for a total team strength of around 70,000 in India.
The firm is making big moves to expand its presence in the country, focusing on hiring and developing its workforce. Since entering the Indian market in 2005, the company has not only increased its revenue but also made substantial investments and grown its workforce.
