Foxconn has attributed the development as part of its usual adjustments based on global strategy and clients’ needs.
In a stock filing, Foxconn Industries, formally known as Hon Hai Precision Industry Co Ltd, stated it was in the process of recruiting more than 50,000 positions across its China campuses for the January-March quarter, midst reports of mass lay-offs. These changes, it said, were part of its usual adjustments based on global strategy and clients’ needs.
Last week, the Nikkei reported that Foxconn had let go around 50,000 contract workers in China since October, months earlier than normal.
“Efforts are in progress to recruit for more than 50,000 positions across our China campuses in Q1 2019,” said Foxconn.
The Nikkei report comes in the wake of Apple slashing current-quarter production for new iPhones by 10% in the face of slowing demand in China.
Earlier this month, Foxconn which according to sources makes around 50% of its revenues from Apple, reported a 8% drop in sales in December.