Foxconn stops hiring as Apple slows
Foxconn, the world’s largest contract electronics manufacturer, has imposed a recruitment freeze across most of its factories in China as it slows production of Apple’s iPhone 5.
The suspension in hiring by China’s largest private-sector employer and the biggest assembler of Apple products, is the first such countrywide move since the 2009 downturn, prompted by the financial crisis. It underscores the weakening demand for some Apple products, which has put pressure on the US company’s battered share price.
The news comes as Apple became the latest big company to admit it has been a victim of computer hacking.
The multinational said there was no indication any data had been taken and was working with authorities to investigate the incident.
It comes just a week after social media giant Facebook revealed it had been the victim of a similar cyber attack.
Apple said in a statement: “The malware was employed in an attack against Apple and other companies, and was spread through a website for software developers. We identified a small number of systems within Apple that were infected and isolated them from our network.” – Copyright The Financial Times Service 2013 /PA