Violent protests erupted at the world’s largest iPhone factory in China. Videos posted on social media show clashes between workers and police.
Zhengzhou factory, which belongs to the Taiwanese company Hon Hai accuracy, known as Foxconn, was put on lockdown last month after COVID cases were detected. This confinement “spurred some workers to escape and return home,” so as not to be stranded at the factory, according to the BBC.
CNN reported last week that more than 100,000 people had signed up to work at the plant after a recruitment drive.
The protesting workers said the factory later “changed the contract it promised them,” according to the BBC.
Hundreds of workers joined the protests, “some of the men destroyed security cameras and windows,” according to Reuters based on photos uploaded to social networks.
China, which is scrambling to ease strict ‘no virus spread’ rules that have hurt its economy, reported more than 27,000 new virus cases on Tuesday (November 22), one of the highest totals since the start of the pandemic.
Hon Hai shares remained unchanged on Wednesday, November 23 on the Taiwan Stock Exchange, closing the day at NT$100.50 per share. Over the past month, the share price of Hon Hai lost 2.4%while the weighted price index in Taiwan scored a 13.6% increase.
Hon Hai founder fortune, Terry Joeestimated at $6.1 billion according to Forbes.
Translated article from the American magazine Forbes – Author: Russell Flannery
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