Foxconn Orders Hiring Halt, As Apple Faces Sales Slump
TAIPEI: Apple supplier Foxconn has stopped recruiting new workers as export orders are shrinking amid the global pandemic.
The hiring halt comes just two weeks before Apple is scheduled to release its Q2 financial results on April 30.
Analysts say it’s an important earnings release for the company, as it comes amid the ongoing COVID-19 outbreak.
Few are expecting the figures to be impressive as global demand for IT equipment, particularly smartphones, is in a slump.
The pandemic in the US and other markets where Apple’s retail businesses are located has affected the iPhone maker’s global shipments and sales.
One analyst forecast Apple’s sales and shipments are likely to drop by 20 percent this year.
Foxconn analysts say that, at this time of year, the factory should have more staff and more hours for each worker but hiring will ultimately be based on progress of the new iPhone.