Foxconn gives raises again
Couple of weeks ago, every day brought news of another suicide at the massive Chinese manufacturing facility. Now every day brings news of another raise for workers there. Latest news, according to Gizmodo, is that workers are getting a whopping 66% raise. But not so fast! It’s performance based and workers must pass a three month review to receive the big raise. So it’s unclear if this is just PR or an actual possibility. The 30% raise seems to be in effect across the board. Given the penny pinching of Chinese factories, one really has to wonder what this does to the manufacturing industry in China and the consumer electronics market here.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.