Foxconn freezes new hiring in China

Feb 20, 2013, 8:27 AM EST
A man pushes a cart loaded with boxes inside a Foxconn factory in Wuhan, Hubei province, August 31, 2012.
REUTERS/Stringer

Foxconn, the world's largest contract electronics maker and China's largest private employer, is freezing new hiring at most of its factories in China as demand for Apple's iPhone 5 slows. It is the company's first such hiring suspension since the 2009 downturn in the wake of the global financial crisis. The hiring suspension will last at least until the end of March.

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