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Foxconn Chairman Says Mass Layoffs Coming

by TechGrid Staff on December 23, 2008 · 0 comments

The head of Foxconn Technologies today announced layoffs of up to 5% of its worldwide workforce, citing the economic environment.

Hon Hai chairman Terry Guo said the world’s largest ODM/EMS firm will cut 3 to 5% of its staff, which according to Hon Hai’s website is more than 400,000, but which other sources have pegged at more than 450,000 in China alone. It is unclear whether recently announced cuts of up to 1,500 employees in Hungary are included in Guo’s latest announcement. (PCD&F)

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