Hit hard by demonetisation, Foxconn puts a fourth of its India workers on bench

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NEW DELHI: Foxconn, the world’s largest contract manufacturer and poster boy of the government’s Make in India project, has asked nearly a fourth of its 8,000 factory workers to go on paid leave for two weeks after last month’s demonetisation of high value notes sparked a severe cash crunch that saw sales slump almost 50%, forcing the company to slash production by half.

The 20-lakh queue

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MORE than 20 lakh applications for around 20,000 posts. At 100 people for every post, jobs with Uttar Pradesh’s civic bodies could qualify as among the most coveted in the country.

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