Chinese Xbox Workers Threatened Mass Suicide

by InvestorPlace Staff | January 12, 2012 2:45 pm

The infamous Foxconn factory — notorious for running its company like a military regiment and where over a dozen workers committed suicide in 2010 — was once again the center of a mass suicide scare last week.

Employees — who assemble Microsoft’s (NASDAQ:MSFT[1]) Xbox 360s at Foxconn’s Wuhan factory– climbed to the top of their building and threatened to hurl themselves from it in protest after their requests for pay raises were denied. Workers were also allegedly angered by Foxconn not following through on an initial severance pay offering for those who wanted to resign.

No employee committed suicide during the protest and, according to the New York Times[2], an agreement has finally been reached between the workers and Foxconn, although the details have yet to be released.

Foxconn is also a major supplier of products to tech giants such as HP (NYSE:HP[3]), Apple (NASDAQ:AAPL[4]), and Amazon (NASDAQ:AMZN[5]).

– Andrew Lander, InvestorPlace.com @andrewlander[6]

Endnotes:
  1. MSFT: http://studio-5.financialcontent.com/investplace/quote?Symbol=MSFT
  2. according to the New York Times: http://www.nytimes.com/2012/01/13/technology/foxconn-resolves-pay-dispute-with-workers.html?_r=4
  3. HP: http://studio-5.financialcontent.com/investplace/quote?Symbol=HP
  4. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  5. AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN
  6. @andrewlander: http://www.twitter.com/andrewlander

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