Apple supplier Foxconn has dramatically slashed its workforce by 60,000 employees at its Kunshan factory in China, reports South China Morning Post. In their place, Foxconn has installed dozens of robots in order to automate aspects of the manufacturing process that previously required skilled manual labor. Incredibly, the number of workers slashed in one fell swoop took the total number of workers still employed at the factory down from 110,000 to just 50,000.China has a huge problem looming. It has built itself on being the manufacturer to the world. Automation will make unemployment skyrocket. Good luck with that. Meanwhile ArsTechnica reports on the CEO telling the public what "those who can see" have known all along
In an appearance on Fox Business' Mornings with Maria, Ed Rensi claimed that a minimum wage increase to $15 an hour would result in "job loss like you can't believe" before ceding ground to our new robotic overlords. "I was at the National Restaurant Show yesterday, and if you look at the robotic devices that are coming into the restaurant industry—it’s cheaper to buy a $35,000 robotic arm than it is to hire an employee who’s inefficient making $15 an hour bagging French fries."These automation services are already in use in China and Japan. Wendy's has already announced it's intent to use this in their stores. This is going to happen. It's only a matter of when and how fast. These "burger flipping" jobs were never meant to be full time, family supporting jobs for anything other than a simply mom and pop family run diner. What good is a $15/hour wage when you have no job? Look I'm all for livable wages. I'm all for fair and equitable employment. But I'm not stupid. Are you?