Foxconn Says No Work Stoppages At Iphone Factory

Foxconn Technology Group shares were lower on Monday amid reports of labor problems at a Chinese assembly plant that makes Apple’s latest iPhone.

The Taiwanese company said in a weekend statement that there had been two recent disputes between employees but no work stoppages at its Zhengzhou plant in China’s central Henan province. Foxconn said it had taken steps to address disputes that took place last Monday and Tuesday involving a few production line workers and quality assurance personnel.

However, China’s state-run Xinhua news agency in a Saturday report said there had been a work stoppage at the plant on Friday wherein more than 100 quality inspectors had refused to report for a morning shift after one inspector had been assaulted by workers frustrated with new inspection standards.

The work stoppage was not a strike and work had eventually resumed Friday at the plant, Xinhua reported, citing an unidentified spokesman for the Xinzheng Comprehensive Bonded Area as saying. Shares of Taipei-listed Foxconn Technology Co. were down 2.2%, underperfoming a 0.8% decline in Taiwan’s stock benchmark.

Marketwatch