iPhone Factories in China Cut Workers Due to Drop in Demand

Factories in China where iPhones are assembled have reportedly cut staff and overtime due to reduced demand. The companies taking these measures include Foxconn and Pegatron.

Foxconn and Pegatron Lay of Workers Due to Reduced iPhone Demand

Foxconn has currently stopped hiring staff to work at its enormous site in Zhengzhou nicknamed iPhone City. Furthermore, the company is said to have cut temporary staff hired in February to work at the site. One worker, Mr. Wang, told the Financial Times that “we have not worked overtime since April 10.” It is not just Foxconn that is affected. Fellow iPhone assembler Pegatron is said to be cutting workers at its Shanghai factory. An employee told the same newspaper that “about a thousand temporary and third-party dispatched workers were fired.”

The details of these measures came as a note to investors from Cowens emerged that said Apple was, in fact, faring better than its rivals in increasing smartphone production. However, the note did also a global reduction in smartphone demand.

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