The Foxconn Technology Group, the world’s largest contract electronics manufacturer, admits slow pace of recruitment as a response to “global economic conditions,” but adds that it “remains committed” to creating those promised 13,000 jobs.
On Friday, The Wall Street Journal reported that the Taiwan-based company “falls short of job-creation target” in Wisconsin in 2018. As a result, the company won’t be eligible for earning tax credits for the year, as agreed upon in the contract signed in late 2017.
The Wisconsin Economic Department Corp. (WEDC) told the media that the company created only 178 full-time jobs, instead of the 260 as required for 2018, so it “will not receive any credits this year.” The WEDC said that the company could earn $19.1 million in tax credits “if it passes its hiring goal of 2,080 jobs this year.”
Foxconn said later in an emailed statement to Bloomberg that it has adjusted its recruitment timeline due to the need to “have the agility to adapt to a range of factors, including global economic conditions,” while it “remains committed to creating 13,000 jobs in Wisconsin.”
The company noted that its hiring in the state is ongoing, and it remains confident in building an artificial intelligence (AI), high definition 8K display, and 5G technology ecosystem in Wisconsin to make it the state’s first “silicon valley” tech hub.