DIRS.INFO The most relevant business & tech news

☆ More than 20,000 new hires have left Apple supplier Foxconn's Zhengzhou plant in China - Foxconn source
▼ + stars: | 2022-11-25 | by ( Yimou Lee | ) www.reuters.com time to read: +2 min

TAIPEI, Nov 25 (Reuters) - More than 20,000 employees, most of them were new hires not yet working on the production line, have left Apple (AAPL.O) supplier Foxconn's (2317.TW) Zhengzhou plant in China, a Foxconn source familiar with the matter told Reuters on Friday. The worker departures come after the Taiwanese firm offered on Thursday 10,000 yuan ($1,396) to employees who wanted to resign and leave the chaos-hit plant. Videos posted on Chinese social media on Friday showed crowds and long lines of luggage-laden workers queuing for buses. A second Foxconn source familiar with the matter said some new hires had left the campus but did not elaborate on how many. The curbs forced the company to isolate many employees and the plant's conditions prompted several to flee.

☆ Apple iPhone Factory in China Offers $1,400 Payments to Quell Worker Unrest
▼ + stars: | 2022-11-25 | by ( Selina Cheng | Yang Jie | ) www.wsj.com time to read: 1 min

HONG KONG— Apple Inc. said it was working to resolve worker complaints at the world’s biggest iPhone factory in China, after police were filmed beating protesting employees at the plant this week and employees began an exodus Thursday. Labor groups have criticized Apple for failing to adequately protect the rights of workers at the vast Zhengzhou site, operated by Foxconn Technology Group and where most of the world’s iPhone 14 models are made. Workers clashed with police Tuesday, angry over delayed bonus payments and conditions at the plant, which has been battling an outbreak of Covid-19 for more than a month.

☆ China's 'iPhone city' Zhengzhou in lockdown until Tuesday
▼ + stars: | 2022-11-25 | by ( Eunice Yoon | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's 'iPhone city' Zhengzhou in lockdown until TuesdayChina reported a record number of Covid-19 cases on Thursday as Beijing imposed more lockdowns. CNBC's Eunice Yoon joins 'Squawk Box' with the details.

☆ Exclusive: Foxconn woes could hit at least 30% of iPhone Nov shipments from China plant -source
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] Customers shop at the Apple Fifth Avenue store for the release of the Apple iPhone 14 range in Manhattan, New York City, U.S., September 16, 2022. REUTERS/Andrew KellyTAIPEI, Nov 25 (Reuters) - Production of Apple Inc's (AAPL.O) iPhones could slump by at least 30% at Foxconn's factory in China's city of Zhengzhou after worker unrest disrupted operations, a person with direct knowledge of the matter told Reuters on Friday. The estimate was an upward revision of an October internal forecast for production impact of up to 30% at the world's largest iPhone factory, said the source, who sought anonymity as the information was private. read moreFollowing this week's bout of worker unrest at the plant, the source added, it was "impossible" for the company to resume full production by the end of the month - a deadline it had set internally before Wednesday's wave of protests. Reporting by Yimou Lee and Taipei newsroom; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Apple has a huge problem at Foxconn's iPhone factory in China
▼ + stars: | 2022-11-25 | by ( Juliana Liu | ) edition.cnn.com time to read: +5 min

“Every week of this shutdown and unrest we estimate is costing Apple roughly $1 billion a week in lost iPhone sales. Now roughly 5% of iPhone 14 sales are likely off the table due to these brutal shutdowns in China,” he said. Security forces clash with workers during a protest outside Apple supplier Foxconn's factory in Zhengzhou, China, on November 23. Covid outbreakEarlier this month, Apple said shipments of its latest lineup of iPhones would be “temporarily impacted” by Covid restrictions in China. Even before this week’s demonstrations, Apple had started making the iPhone 14 in India, as it sought to diversify its supply chain away from China.

☆ Morning Bid: Gloomy enough?
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +4 min

Asset managers tout a return to beaten-down bonds as a result - even if there's far less enthusiasm for equity in that environment. But the view hinges on economies slowing to a point that drags inflation back down toward 2% targets. So far at least, most incoming economic numbers are less gloomy than forecast. Likewise equivalents for the euro zone, China and the world at large - with UK surprises the most positive since April. The People's Bank of China said it would cut the reserve requirement ratio for banks by 25 basis points.

☆ Apple to Address Worker Complaints After Unrest at China iPhone Factory
▼ + stars: | 2022-11-24 | by ( Selina Cheng | Yang Jie | ) www.wsj.com time to read: 1 min

The factory’s iPhone 14 production has been slowed by a labor shortage that began last month, when a Covid outbreak and an accompanying lockdown sent workers fleeing back to their hometowns. China’s “dynamic zero-Covid” measures make it an outlier among the world’s major economies, causing growing public frustration and economic pain. Though officials announced new “optimized” measures this month, they are struggling to ease the burden without setting off a major exit wave. Despite the purported easing of measures in China, a single case can still bring targeted lockdowns and sudden quarantines. Covid measures were further tightened on Thursday in the capital, Beijing, which is already in near-lockdown with schools, parks and shopping malls closed and a negative Covid test required every 48 hours to enter public places anywhere in the city.

☆ Larger protests under control at Foxconn's major iPhone factory in China - source
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: 1 min

TAIPEI, Nov 24 (Reuters) - Larger protests at Foxconn's (2317.TW) flagship iPhone plant in China were under control and the company continued to communicate with employees engaged in smaller protests, a source said on Thursday. Hundreds of workers joined protests at Foxconn's major iPhone plant China's Zhengzhou this week, with some men smashing surveillance cameras and windows, footage uploaded on social media showed. read moreReporting By Yimou Lee; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Foxconn says 'technical error' occurred when hiring workers at major iPhone plant in China
▼ + stars: | 2022-11-24 | by ( ) www.cnbc.com time to read: 1 min

Foxconn employees on the assembly line in Longhua, Shenzhen, China. The company reportedly employed students working overtime at its iPhone factory in Zhengzhou. Apple's major supplier Foxconn said on Thursday a "technical error" occurred when hiring new recruits at a major iPhone factory in China and offered an apology, one day after the company was rocked by fresh worker unrest. Hundreds of workers joined protests at Foxconn's flagship iPhone plant in China's Zhengzhou, with some men smashing surveillance cameras and windows, footage uploaded on social media showed. The company said in a statement it will continue to communicate with employees and try its best to solve concerns and demands by them.

☆ China COVID infections hit record as economic outlook darkens
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Nov 24 (Reuters) - China reported a record high number of COVID-19 infections on Thursday, with cities nationwide imposing localised lockdowns and other curbs that are darkening the outlook for the world's second largest economy. The brokerage cut its GDP forecast for the fourth quarter to 2.4% year-over-year from 2.8%, and also cut its forecast for full-year growth to 2.8% from 2.9%. China recorded 31,444 new local COVID cases for Wednesday, breaking the record set on April 13, when Shanghai was in a city-wide lockdown that would last two months. China stocks fell on Thursday as concerns over the record-high caseload overshadowed optimism from fresh economic stimulus. The bank has also lowered its GDP growth forecast for next year to 4.0% from 4.3%.

“The new recruits had to work more days to get the bonus they were promised, so they felt cheated,” the worker told CNN. Apple, for which Foxconn manufactures a range of products, told CNN Business that its employees were on the ground at the Zhengzhou facility. Videos showed workers clashing with security guards and fighting back tear gas fired by police. More workers joined the protest after seeing livestreams on video platforms Kuaishou and Douyin, the Chinese version of TikTok, the worker told CNN. Having worked at the Zhengzhou plant for six years, he said he was now deeply disappointed by Foxconn and planned to quit.

☆ Foxconn is stuck between rock and hard place
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Nov 24 (Reuters Breakingviews) - The $45 billion top Apple (AAPL.O) supplier Foxconn (2317.TW) is trying to resolve its problems in China with cash. Financial fixes can only do so much to tackle a problem stemming from Beijing’s zero-Covid policy. Workers have been upset after being forced to live in difficult conditions designed to stamp out Covid-19 infections. In every way, manufacturers in China face a long and bumpy road to recovery if they try to please both their workers and Beijing. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Mainland China's total daily Covid cases soar above Shanghai lockdown highs
▼ + stars: | 2022-11-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Kevin Frayer | Getty Images News | Getty ImagesBEIJING — Mainland China reported more than 31,000 Covid infections for Wednesday, including cases without symptoms. However, daily Covid infections with symptoms remain well below the high seen in April. Nearly 90% or more of total Covid cases reported in recent days have been asymptomatic, the data showed. But nearly all of China's 31 province-level regions have reported new Covid infections, with and without symptoms, each day. watch nowChina this month trimmed quarantine times and has announced other measures to try to make Covid controls more targeted.

☆ China locks down major iPhone making city as Covid cases jump to a record high, sparking concerns that lockdowns could stretch beyond 2023
▼ + stars: | 2022-11-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China posted a record number of daily Covid cases on Wednesday, amid a surge in the Omicron strain. It stepped up lockdowns in affected areas such as Zhengzhou, home to the world's largest iPhone plant. The restrictions come amid a surge of COVID-19 infections in China. China reported a record high 31,444 local infections for Wednesday, including asymptomatic cases, according to the country's National Health Commission. Despite the surge in COVID-19 infections in China, the Chinese and Hong Kong markets are flat at midday on Thursday.

☆ Apple supplier Foxconn offered protesting workers $1,400 each to quit their jobs and leave 'iPhone city', report says
▼ + stars: | 2022-11-24 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +3 min

Protests erupted this week at Foxconn's Zhengzhou plant over withheld pay and COVID-19 restrictions. The company has offered workers 10,000 yuan ($1,400) to quit their jobs and leave the factory. Videos posted to social media showed violent clashes between workers and security forces at Foxconn's plant in Zhengzhou, the location of a recent COVID-19 outbreak. Tensions have been brewing at Foxconn's Zhengzhou plant since an outbreak of the virus late last month. In a statement to CNN, Apple — Foxconn's largest customer — said it was "working closely with Foxconn to ensure their employees' concerns are addressed."

☆ Apple supplier Foxconn apologises for hiring blunder at COVID-hit China plant
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +4 min

Workers said on videos circulated on social media that they had been informed that Foxconn intended to delay bonus payments. The person said the company had reached "initial agreements" with employees to resolve the dispute and production at the plant continued on Thursday. The Zhengzhou plant employs more than 200,000 people to make Apple Inc (AAPL.O) devices including the iPhone 14 Pro and Pro Max. Apple said it had staff at the factory and was "working closely with Foxconn to ensure their employees' concerns are addressed”. Wedbush Securities analyst Daniel Ives expects the shutdowns to cost Apple about $1 billion a week in lost iPhone sales.

☆ Violent protests take place near an iPhone factory in China
▼ + stars: | 2022-11-23 | by ( Kriti Gandhi | ) www.nbcnews.com time to read: +2 min

Violent protests have broken out in Zhengzhou, China, following contract disputes at the world’s biggest Apple iPhone factory, according to videos posted on social media and verified by NBC News. The footage was taken near the Foxconn factory, in the streets of the Zhengzhou Airport Economy Zone, where large groups of people blocked roads during their protest. A worker disinfects the Foxconn factory in Zhengzhou, China on Nov. 6. The protests come after Apple warned earlier this month that it had temporarily reduced iPhone 14 production at this factory because of Covid restrictions. The Foxconn factory has accommodation for over 350,000 people, but it is unclear how many employees are left working at the factory.

☆ iPhone Factory Workers Clash With Police at Covid-Hit Plant in China
▼ + stars: | 2022-11-23 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

Foxconn has been offering bonuses to workers recruited in November to fill vacancies. HONG KONG—Workers at the world’s biggest iPhone assembly plant in China clashed with scores of police officers after protests erupted at the factory, which has been under Covid-19 lockdowns in recent weeks. Videos circulating among workers’ online chat groups on Tuesday showed chaotic scenes at the factory in Zhengzhou where Foxconn Technology Group assembles most of the world’s latest iPhone models. Police officers in Covid-protective suits holding long shields and wielding batons faced off with workers who threw plastic water bottles and pieces of metal from dismantled barriers, the videos showed.

☆ Apple Inc supplier Foxconn's China plant hit by fresh worker unrest - social media
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +2 min

The videos showed more than a hundred people clustered outside and coming face to face with dozens of hazmat-suited officials, who they said were police. Some videos showed workers complaining about the food they had been provided while others said they had not been paid bonuses as promised. The Zhengzhou plant is the world's largest iPhone factory with some 200,000 workers. It has maintained so-called closed-loop operations at the plant - a system in which staff live and work on-site isolated from the wider world - due to the COVID situation in Zhengzhou. The curbs and discontent have hit production, prompting Apple Inc to say earlier this month that it expected lower shipments of premium iPhone 14 models.

☆ Video shows workers clash with police at world's largest iPhone assembly factory
▼ + stars: | 2022-11-23 | by ( ) edition.cnn.com time to read: 1 min

Videos shared on social media show hundreds of workers at China's largest iPhone assembly factory confronting police, some in riot gear. The clashes occurred on the Foxconn campus in the central Chinese city of Zhengzhou. CNN's Selina Wang reports.

A source familiar with the situation in Zhengzhou said production at the plant was unaffected by the worker unrest and output remained "normal". It makes most of the phones at the Zhengzhou plant, though it has other smaller production sites in India and southern China. Shares of Foxconn have slipped 2% since the unrest emerged in late October. Before the unrest, the Zhengzhou plant employed some 200,000 people. To retain staff and lure more workers Foxconn has had to offer bonuses and higher salaries.

☆ Stick-wielding men smash surveillance cameras at China iPhone plant
▼ + stars: | 2022-11-23 | by ( ) www.cnbc.com time to read: +1 min

Foxconn logo displayed on a phone screen and Apple logo on a laptop are seen in this illustration photo taken in Krakow, Poland on November 2, 2022. Men wielding sticks smashed surveillance cameras and windows at a massive campus owned by Apple supplier Foxconn in the Chinese city of Zhengzhou, scenes broadcast live on the Kuaishou short video platform showed on Wednesday. Hundreds of workers protested at the campus, home to the world's largest iPhone factory, where many chanted "give us our pay". Two sources with knowledge of the matter said there were protests at the Zhengzhou campus but declined to provide more details. Foxconn and Apple did not immediately respond to a request for comment.

☆ Videos show hundreds of workers rioting at Apple's biggest iPhone making plant over China's draconian COVID-19 measures
▼ + stars: | 2022-11-23 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

Online footage appears to show workers rioting at Foxconn's iPhone making plant in Zhengzhou, China. The mass protests are the latest escalation of tensions over China's COVID-19 measures at the plant. The clips show swarms of angry workers shoving and charging guards at the factory. Workers at Foxconn's Zhengzhou plant can be seen swarming the factory grounds and charging guards wearing white hazmat suits. The riots occurred over unpaid wages and workers' concerns that they would be infected by COVID-19, the witness told Bloomberg.

Beijing/Hong Kong CNN Business —Workers at China’s largest iPhone assembly factory were seen confronting police, some in riot gear, on Wednesday, according to videos shared over social media. Videos of many people leaving Zhengzhou on foot had gone viral on Chinese social media earlier in November, forcing Foxconn to step up measures to get its staff back. Numerous complaints have also been posted anonymously on social media platforms — accusing Foxconn of having changed the salary packages previously advertised. Searches for the term “Foxconn” on Chinese social media now yield few results, an indication of heavy censorship. A vital hubThe Zhengzhou facility is the world’s largest iPhone assembly site.

Search resuls for: "ZHENGZHOU"

25 mentions found