The owners of a suicide-plagued electronics plant in southern China have announced the second pay rise in under a week. Foxconn employees, who received a 30% across-the-board hike last week, will be eligible for a 66% performance-based pay rise if they pass a 3-month performance review, Reuters reports. Execs say the raises will reduce pressure on employees by making overtime a choice instead of necessity.
"This wage increase has been instituted to safeguard the dignity of workers," said Foxconn's founder, who told reporters he was having trouble sleeping at night because he dreaded being called with the news of another worker suicide. The pay hikes, however, seem to have driven some investors to despair, the BBC notes: Foxconn shares plunged on the Hong Kong and Taiwan stock markets following the announcement.