Foxconn Workers Get Another Pay Rise

Foxconn has announced another wage increase increase for its Chinese employees.

The Taiwan-based company has said that employees will be entitled to a 66 per cent pay increase - provided they meet their required targets.

Earlier this week Foxconn increased wages by 30 per cent because of mounting pressure from international companies concerning a recent spate of suicides among company workers.

Foxconn, which produces products for a leading IT brands, including the Apple iPhone and iPad, came under scrutiny after a string of suicides and suicide attempts on company premises.

Apple ordered an probe into the matter, which suggested that low wages and long working hours lay behind the suicides.

Following this, Foxconn announced the 30 per cent hike.

Terry Gou. Foxconn's founder and chairman, stated: "This wage increase has been instituted to safeguard the dignity of workers”.

This second wage hike has not been well received by Foxconn investors. Shares fell sharply after the announcement.