Taiwanese megacompany Foxconn will slash jobs because of falling demand for Apple gear.That’s according to Reuters, which has spoken to a company representative who confirmed the cuts will come.
The representative who works to the chairman of the board, said labour costs had doubled since 2010.
Foxconn currently hires 1.3 million people and came under fire in 2010 after a number of its workers killed themselves.
The Reuters report said revenue growth for Foxconn fell to 1.3 percent in 2013.
Analysts are predicting that the massive growth in sales of smartphones and tablets is bound to decline as saturation levels increase.
Both Apple and Samsung now face intense competition from own brand Chinese smartphone vendors offering units at rock bottom prices and with rock bottom margins.
