Okay Geek Farm
Foxconn scraps victim compensation plan, wants to set up an automated factory
Daniel Carey
We’ve heard all kinds of stories surrounding Foxconn — and their less than desirable working conditions — however, yesterday during Foxconn’s annual shareholder meeting, it was revealed that the company will stop compensating families of deceased employees. According to Foxconn CEO Terry Gou, the recent bouts of suicide can be strongly linked to the company’s death benefits (a la “victim compensation”).
“…now I’m going to jump off Foxconn, really leaving now, but you don’t have to be sad, because Foxconn will pay a bit of money, this is all your son can repay you now.”
Sadly (yet to be expected), the company’s currently looking to relocate “some” manufacturing work, due to a lower earnings forecast contributed to by the increase of daily wages (basic salary rising from ¥900 ($132) to ¥1,200 ($176)). Oh, and due to what you’ve just read, Foxconn’s looking to set up a fully automated factory in either Taiwan or Vietnam — yeah, we’ll let you dwell over that.
