Hon Hai Precision Industry (HHPD.LSE) has announced that it will turn over the management of staff dormitories at its factories in Shenzhen to two property management firms, reported the Wall Street Journal. The Taiwanese firm – the most successful division of electronic parts manufacturer Foxconn (2038.HK, 2317.TWSE) and the recent target of international attention after a string of worker suicides – signed a memorandum of understanding with Shenzhen CPM Property Management and Kaiyuan Property Management to transfer the management of 153 employee dormitories at the company’s Longhua and Guanlan factory campuses. "Providing employees with basic necessities including a safe and convenient place to live at the work-site might have been sufficient in the past, but this arrangement no longer satisfies the needs of the young migrant workers of today," said Foxconn Executive Vice President Terry Cheng.