Taiwan's Foxconn Technology Group,the world's largest contract electronics maker,has slashed its long term growth target in half,from 30% to 15%,which may ease the pressure on its huge workforce of one million.The company was racked by a rash of employee suicides earlier this year,as well as the recent falloff in pc sales.It does work for Hewlett Packard,Dell and Apple,as well as Cisco and Nokia,making everything from handsets to servers.
Despite having a bigger market capitalization than Sony,Foxconn has been the worst performer on Hong Kong's Hang Seng index this year,with a profit decline of 44.46%.There are no buy ratings on the stock of the troubled firm.Terry Gou,59,is the forthright Taiwanese founder of the company,and says he has no intention of retiring anytime soon.
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