Foxconn has announced plans to increase its workforce by 40 per cent to 1.3 million in one year’s time.
A subsidiary of Taiwan’s Hon Hai Precision Industry, Foxconn will raise its total workforce in mainland China from the current 920,000 workers to 1.3 million by the end of 2011, the Wall Street Journal has reported.
The company has also announced plans to turn its major production plant in Shenzhen into a centre for research and development, thereby reducing workforce from 470,000 to below 350,000.
Hon Hai, one of the world’s largest consumer electronic manufacturers, builds products for a number of high-end brands, such as Dell, Apple, Hewlett-Packard and Sony.
"For a long time, we were kind of blinded by our success. To be very frank and open, I think we were caught by surprise by the structural changes in the worker composition," said Louis Woo, assistant to Hon Hai chairman Terry Guo, in a press conference.