Apple supplier Quanta sees ‘disappointing’ financials after paying employees ‘significant’ incentives

In May hundreds of workers at the Quanta factory (an Apple supplier) in China rioted, reported the China Times. Now the company is paying “significant” incentives to keep employers happy and, well, employed by Quanta.

The rioters clashed with authorities and flooded past isolation barriers after weeks under lockdown. According to the China Times, Quanta workers rioted again on the night of May 21, and into the next morning. 

Now Bloomberg reports that the concessions to workers were disclosed in Quanta’s announcement of its “disappointing” quarter two finances.

From the article: MacBook assembler Quanta Computer Inc. said its Shanghai campus recovered from Covid-related disruptions more slowly than expected, halving its profit. Net income for the second quarter came in at NT$3.96 billion ($132 million), down 50% and below the average estimate of NT$4.3 billion […]

Spokesperson Carol Hsu said the company obtained approval to resume operations in a closed-loop system [in April], but the restart was bumpy due to logistics disruptions and a shortage of workers. The Shanghai unit returned to full production only in late June, she said. 

Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the editor/publisher of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.