Zero Hedge — China Accuses Apple, Foxconn Of Breaking Chinese Labor Laws

The biggest surprise, however, is that China appears to be right. When contacted by Bloomberg, Apple said that, after conducting an investigation, it found the “percentage of dispatch workers exceeded our standards” and that it is “working closely with Foxconn to resolve this issue.” It added that when it finds issues, it works with suppliers to “take immediate corrective action.” Foxconn Technology Group also confirmed the dispatch worker violation following an operational review.... 

Zero Hedge
China Accuses Apple, Foxconn Of Breaking Chinese Labor Laws
Tyler Durden

Zero Hedge — Foxconn Fires 25% Of India Workers As Demonetization Destroys Sales

While piecemeal anecdotes and surveys have already exposed the devastation that PM Modi's demonetization plan has had on the Indian economy, tonight we see the first hard evidence as Foxconn has asked 25% of its workforce to leave after the cash ban caused sales to collapse by 50% forcing the company to slash production by half.

Unintended consequences of doing stupid stuff.

Zero Hedge
Foxconn Fires 25% Of India Workers As Demonetization Destroys Sales

Tyler Durden