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Foxconn Unit To Cut Over 10,000 Jobs As Robotics Take Over (nikkei.com)

Posted by BeauHD on from the ready-or-not-here-I-come dept.

According to Nikkei Asian Review, "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." Honorary Chairman Tuan Hsing-Chien said in a press conference on Tuesday: "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." From the report: 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.

3 of 104 comments (clear)

  1. Cool story, bro. by Anonymous Coward · · Score: 0, Informative

    You're using some lovely RIAA math there, sport.

    Wisconsin is paying nothing by offering tax breaks and tax credits for a company that otherwise would not even be setting up shop in Wisconsin.

    Missing out on money? Debatable. But that tax income does not exist. There's literally nothing being paid.

    1. Re:Cool story, bro. by Waffle+Iron · · Score: 5, Informative

      You're using some lovely RIAA math there, sport.

      Wisconsin is paying nothing by offering tax breaks and tax credits for a company that otherwise would not even be setting up shop in Wisconsin.

      You seem to assume that a government wouldn't be that stupid and corrupt, but you're totally wrong.

      To lure Foxconn Technology Group to Wisconsin, state residents will have to do more than just forgo taxes from the Taiwanese electronics giant. They will have to pay cash — writing checks for up to $200 million a year.

      ...

      And because Wisconsin already waives almost all taxes on manufacturing profits in the state, these incentives represent not a lost opportunity at collecting revenue but an obligation to pay cash to Foxconn out of the state treasury for up to 15 years. When including a $150 million sales tax break for buying construction material, the incentive package could total up to $3 billion, according to the bill that lawmakers could vote on as soon as Tuesday.

  2. Re:Are progressives happy about them losing their by Anonymous Coward · · Score: 0, Informative

    Shenzhen is in China not Taiwan you idiot, so the the Chinese government has no say over this.