According to the article, Foxconn is offering to return employees a signing bonus of 9,500 yuan ($1,470) on top of a monthly salary of 6,865 yuan ($1,080) at its enormous production park, which employs more than a quarter of a million people and manufactures an estimated 80% of the world’s iPhones.
The Taiwanese firm has also promised a reward of 8,500 yuan ($1,338) for new personnel hired through its internal referral programme, as well as a reward of 1,000 yuan ($157) for the corresponding referrer. New employees who applied on their own are eligible for a 9,000 yuan ($1,417) incentive.
The identical additional package was previously available in July, as the factory ramped up manufacturing of the iPhone 13 series. On that instance, the sum was an increase on a previous month’s record-high signing bonus offered by Foxconn.
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The higher incentives reflect Foxconn’s demand for experienced personnel ahead of the Lunar New Year break, which takes place from January 31 to February 6, during which migrant workers across China traditionally return home to be with their families.
The Christmas season is also being influenced by a recent increase in Omicron and Delta coronavirus cases in Henan province, where officials have imposed restrictions on individuals entering and departing the region. Foxconn’s production lines are claimed to be located in low-risk zones for illnesses in Zhengzhou, the capital of Henan, but the business is taking no chances and continues to do repeated rounds of testing on its workers.
According to Wedbush analysts, global demand for the iPhone 13 has remained consistent moving into 2022, having outstripped supply in the fourth quarter of last year by about 12 million devices, with Apple selling 40 million iPhone 13 models over the holiday season.