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Foxconn Slashing 2019 Forecast Amid iPhone Slowdown

  • Bloomberg, Wednesday, November 21, 2018 1:53 PM

Next year, Foxconn plans to cut about $2.9 billion from expenses, Bloomberg reports, citing an internal company memo. Specifically, “The iPhone business will need to reduce expenses by 6 billion yuan next year and the company plans to eliminate about 10 percent of non-technical staff,” it writes. “Foxconn’s moves are likely to add to the gloom enveloping Apple and suppliers for the iPhone.”

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