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Foxconn to Cut Over 10,000 Jobs

Foxconn to  Cut Over 10,000 JobsFoxconn to  Cut Over 10,000 Jobs

Foxconn’s panel arm Innolux is planning to slash more than 10,000 jobs this year as part of the company’s aggressive efforts to increase the use of automation in manufacturing, said honorary chairman Tuan Hsing-Chien on Tuesday, Nikkei reported. “We will reduce our total workforce to less than 50,000 people by the end of this year, from some 60,000 staff at the end of 2017,” Tuan said in a press conference. Innolux is a liquid crystal display-making affiliate of major iPhone assembler Hon Hai Precision Industry, better known as Foxconn Technology Group. Tuan is also a technology adviser to Foxconn, Sharp and Innolux. Tuan said up to 75% of production will be fully automated by the end of 2018. Most of Innolux’s factories are in Taiwan. Tuan’s pledge came a few days after Foxconn Chairman Terry Gou said the company would pour in some $342 million to overhaul its manufacturing process by using artificial intelligence.

 

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