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Foxconn pledges to double workers' minimum wage

Foxconn (2038.HK, 2317.TW), a major electronics supplier to the likes of Apple (AAPL.NASDAQ), Dell (DELL.NASDAQ, 4331.HK) and Hewlett-Packard (HPQ.NYSE), plans to more than double the minimum wage of some of its workers in the wake of a series of employee suicides, the Wall Street Journal reported. As of October 1, the monthly wage for all assembly line workers at Hon Hai Precision Industry as well as their line leaders and supervisors will increase to about US$293. A company spokesperson refused to provide details on how many hours that would entail. The change will affect workers in Shenzhen, which is where more than half of the company’s 800,000 mainland staff is based. The current minimum wage in the part of Shenzhen where Hon Hai operates is US$132. The company earlier said it would increase wages for all its workers in China by an average of 30% – on top of a 20% raise announced days earlier. Hon Hai is trying to improve staff conditions following 10 worker suicides so far this year.

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