https://preview.redd.it/reomsxhqfjy91.jpg?auto=webp&s=740701a8a13ffff2c93cd37ff8adeb237401b7d3
Foxconn CFO is one of us.
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Lol is this real?
Can confirm, CNBC has discussed this slide twice today but it still feels like a meme
Is this at their china factory?
If so, this isn’t surprising. Most workers live in central China and ferry money home to their families all year. When they go home for CNY, most don’t come back. Which means the factory needs to rehire and train new folks. Most if not all live at the factory, and it’s controlled like crazy.
I’ve heard rumblings that most factories aren’t letting workers go home this CNY (masked as a COVID precaution) to get production ramped back up and reduce turnover (by forcing them to stay basically)
I hope the dorm is at least free. Who knows how long they are going to be locked up.
4.20 USD is about 30 CNY (Chinese Yuan).
69 USD is about 498.75 CNY. Basically 500 CNY.
Funny numbers because of currency conversion.
Restrict movement to factory and dorms???
This is prison.
So hang on… Do they really pay iPhone makers $4.20 per hour?
Their Wisconsin factory is a Joke.
The person who created the slide probably did this. Check out the conversion between yuan to usd. It’s about 7 to 1. 500 yuan is close to 69$ and 4.20$ is close to 30 yuan.
4.20…..69……too good
Foxxconn the same company who has suicide nets on their buildings to prevent their slaves from leaving. Fuck foxxconn.
So is Apple working with a manufacture that won’t let people leave? You might get paid but if you have no freedom of movement it’s slavery with extra steps.
This is higher than Chinese minimum wage and twice min wage in some provinces. We can’t compare things to here. You can live on much less $US in China.
So annualized, that means those workers make $8,736 in salary on 40 hour work week, but they get the bonus of $69. So that takes them up to $8,805 per year. Unfortunately, that’s significantly more than many on this forum will make in 2022……due to their stock picks. 
They are pitching their business to Elon.
Nice
I find it funny all these “haves” criticizing $4.20 as slave labor in china when it includes room and board and a lower cost of living compared to America where Federal minimum wage still $7.25 or $2.13 if the workplace claims you get tips.
Modern times slavery…
Slave labour, but its funny numbers so ignore that
$4.20/hour? This is in China right?
Damn who needs an overbearing Commie government to get their hands dirty when your corporate overlords can do all of the heavy lifting.
So this report is fake then. 100% trolled
I’m surprised at how much the china hourly rate is. I would have thought it’s much lower given how much they produce
420 with a 69 bonus…sign me up.
So Wall Street is like pro wrestling?
$4.2….