A NEW report suggests that Foxconn will cut back on its workers, but the company says it’s only reducing the pace of employee recruitment.

    Earlier on Tuesday, news outlet Reuters reported that Foxconn, which has produced a wide range of devices, including Apple’s iPhone and Microsoft’s game consoles, will reduce its workforce as it deals with shrinking revenue gains and increasing wages across China, where it produces most of its products. Louis Woo, special assistant to chairman Terry Gou, reportedly said “yes” to Reuters when asked if the company will cut employees.

    In a statement to CNET, however, Foxconn said that the report is “completely inaccurate and totally without foundation,” adding that the company is still recruiting employees and will maintain the more than 1 million employees it has worldwide.

    “As we continue to increase the application of automation in our operations, the magnitude of our employee recruitment is expected to decrease in the years ahead, but we have no plans to reduce our workforce numbers now or anytime in the future,” a company spokeswoman said Tuesday. “In addition, our company is confident that we will continue to achieve sustained business growth in the years to come.”

    Foxconn is one of the world’s largest employers and produces a wide range of technology goods. At peak times, the company employs about 1.3 million people. While Foxconn has grown over the last several years, due in large part to its partnership with Apple to produce iPhones and iPads, its revenue growth has declined from double-digit gains several years ago to single-digit increases in the last two years.

    (SD-Agencies)