Apple’s Chief Assembling Partner Foxconn Is Increasing ‘Sign-Up’ Bonuses For New Employees As iPhone 15 Launch Draws Near
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Preparing for the iPhone 15 launch requires immense planning that is executed months in advance, and Foxconn aims to meet Apple’s tough deadlines by hiring workers well before the official unveiling period. However, recruiting new hires is easier said than done, and according to the latest report, Apple’s chief assembling partner aims to entice several individuals by offering increased ‘sign up’ bonuses.
Foxconn will offer a $424 ‘sign-up’ bonus to new hires, but that is if they agree to work for a certain period
New employees that agree to work for at least 90 days at Foxconn’s Zhengzhou plant will receive a one-time bonus of 3,000 yuan, or $424, according to South China Morning Post. The new hires will be given an hourly compensation of 21 yuan, or $2.97. Other raises include raising worker benefits, which Foxconn has proceeded to increase twice this month. The report states that the highest loyalty bonus for new recruits who remain employed for three months was increased to 2,500 yuan, $353, on May 22. The previous amount was 2,000 yuan, or $310.
At the most, Foxconn can accommodate around 200,000 workers at a time, which is considered a typical workforce figure at its main assembling facility. Foxconn does some extra hiring shortly after the release of Apple’s new iPhone models, assuming that demand picks up. For the iPhone 15 lineup, Foxconn is expected to remain the exclusive assembling entity for the ‘Pro’ models, with Luxshare reportedly being brought in as a secondary partner for these two handsets.
Apple is likely preparing for a setback this time around after a series of lockdowns caused by COVID-19 restrictions in the fourth quarter of 2022 led to lowered output of the iPhone 14 Pro and iPhone 14 Pro Max. This resulted in Apple losing out on billions in revenue during the holiday quarter, so it is natural for the California-based giant to have a contingency plan for the future. For 2024, Foxconn is said to lose out on iPhone 16 Pro Max orders, which will be given to Luxshare instead.
Looking at the preparations that Foxconn is reportedly undertaking, if it can show Apple that it maintained proper order before and after the iPhone 15 launch, the company may be given exclusive orders for the iPhone 16 Pro and iPhone 16 Pro Max next year. For 2023, luck was on Foxconn’s side.
Written by Omar Sohail