{"id":580566,"date":"2023-01-05T13:43:58","date_gmt":"2023-01-05T13:43:58","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/05\/tech-players-are-going-through-more-layoffs-foxconn-is-losing-its-grip-on-iphone-production-monopoly\/"},"modified":"2023-01-05T13:43:58","modified_gmt":"2023-01-05T13:43:58","slug":"tech-players-are-going-through-more-layoffs-foxconn-is-losing-its-grip-on-iphone-production-monopoly","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/05\/tech-players-are-going-through-more-layoffs-foxconn-is-losing-its-grip-on-iphone-production-monopoly\/","title":{"rendered":"Tech players are going through more layoffs + Foxconn is losing its grip on iPhone production monopoly"},"content":{"rendered":"

<\/a> The layoff wave hitting tech players isn\u2019t over yet:<\/strong> NYSE-listed tech giant Salesforce is reducing its 79k+ headcount by 10%, making it the latest tech company to slash expenses as uncertainty continues to draw a bleak picture for the global economy, CNN<\/a> reports, citing a letter sent out to employees. Video-sharing platform Vimeo followed suit on the same day and announced its plans to lay off 11% of its employees, the news outlet reports. The demand for tech companies saw a skyrocketing rise fueled by the pandemic-induced work-from-home trend, which is coming to a halt, forcing these firms to \u201cquickly adjust to a softening demand environment,\u201d CNN quotes an analyst as saying. Amazon, Meta, and Twitter<\/a> each pushed through layoffs last year. CNBC<\/a> and Insider<\/a> also had the story.<\/p>\n

Amazon is also planning (another) drastic job cut:<\/strong> The e-commerce giant plans to eliminate 18k jobs \u2014 6% of the company's 300k-person corporate workforce \u2014 to reduce expenses, CEO Andy Jassy announced to employees yesterday in a message that has since been shared in a blog post<\/a>. The company\u2019s e-commerce and human resources divisions will be hit the hardest by the layoffs, the details of which will be announced on 18 January, The Financial Times<\/a>reports.<\/p>\n

DATA POINT- According to tracking website <\/strong>Layoffs.fyi<\/a><\/strong>, the tech sector laid off more than<\/strong> 150k people in 2022<\/strong>, a figure that shows no sign of slowing, according to Reuters<\/a>.<\/p>\n

\n

<\/a> Foxconn\u2019s monopoly on iPhone manufacturing is slipping:<\/strong> Apple is set to outsource production of the iPhone 14 Pro Max model to Chinese manufacturer Luxshare Precision<\/a>, a direct competitor of Foxconn and Pegatron, the Financial Times<\/a> reports, citing sources familiar with the matter. Luxshare has already been producing small components of the iPhone 14 Pro Max at its factory in Shanghai, as Apple looks to offset slower production at the Taiwanese Foxconn plant since November of last year.<\/p>\n

In its bid to diversify its production facilities, Apple has made significant investments in Luxshare\u2019s supply chain management. <\/strong>Luxshare has delivered last minute orders of mass producing the Pro models in just a few months, an analyst says. The company is now Luxshare\u2019s largest commercial partner, driving a jump in revenues to USD 24 bn in 2021, from USD 2 bn in 2016.<\/p>\n

REMEMBER: <\/strong>Foxconn is attempting to expand its assembly and production lines to other markets such as India, Vietnam, and the US following challenges at its Zhengzhou plant<\/a>. Moreover, Foxconn has had worker disruptions due to alleged clashes with authorities, as well as lockdowns as the Covid-19 pandemic disseminated once more in the city \u2014 leading to \u201cshortages of iPhones and threats to break Apple\u2019s 14-quarter revenue<\/a> growth streak.\u201d Nonetheless, Foxconn was able to deliver 90% of its initial targets in December, the Financial Times quoted Foxconn this week.<\/p>\n","protected":false},"excerpt":{"rendered":"

The layoff wave hitting tech players isn\u2019t over yet: NYSE-listed tech giant Salesforce is reducing its 79k+ headcount by 10%, making it the latest tech company to slash expenses as uncertainty continues to draw a bleak picture for the global economy, CNN reports, citing a letter sent out to employees. Video-sharing platform Vimeo followed suit […]<\/p>\n","protected":false},"author":1,"featured_media":580567,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7215],"tags":[318,184,928,633,638,2877,235,6246],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-580566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-your-commute","tag-amazon","tag-apple","tag-employment","tag-enterprisepm","tag-for-your-commute","tag-foxconn","tag-labor","tag-salesforce","wpautop","entry"],"acf":{"mongo_id":"43127ddd-d0f1-42f1-8a4d-3296bbeb8a15","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/608.jpg","photo_position":"above","related_issue":[580561],"teaser":"","voice_url":""},"yoast_head":"\nTech players are going through more layoffs + Foxconn is losing its grip on iPhone production monopoly - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/05\/tech-players-are-going-through-more-layoffs-foxconn-is-losing-its-grip-on-iphone-production-monopoly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tech players are going through more layoffs + Foxconn is losing its grip on iPhone production monopoly\" \/>\n<meta property=\"og:description\" content=\"The layoff wave hitting tech players isn\u2019t over yet: NYSE-listed tech giant Salesforce is reducing its 79k+ headcount by 10%, making it the latest tech company to slash expenses as uncertainty continues to draw a bleak picture for the global economy, CNN reports, citing a letter sent out to employees. 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Picking up where we left off on Thursday: Foxconn Group is looking at how to integrate Egypt into its global supply chain. Trade and Industry Minister Tarek Kabil met with a delegation of top executives from the Taiwanese\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629383,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/aoi-ict-discuss-with-foxconn-group-joint-manufacturing-of-educational-tablets\/","url_meta":{"origin":580566,"position":1},"title":"AOI, ICT discuss with FoxConn Group joint manufacturing of educational tablets","author":"enterpriseam admin","date":"29 May 2018","format":false,"excerpt":"China\u2019s Foxconn Group met with executives from the Arab Organization for Industry (AOI) yesterday to discuss a potential collaboration to locally manufacture tablet devices for the Education Ministry ahead of the 2018-19 academic year, Al Shorouk reports. Education Minister Tarek Shawky had unveiled a plan last month to overhaul Egypt\u2019s\u2026","rel":"","context":"In "Telecoms + ICT"","block_context":{"text":"Telecoms + ICT","link":"https:\/\/enterpriseam.com\/egypt\/category\/telecoms-ict\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629335,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/28\/yasser-el-kady-meets-with-foxconn-technology-delegation\/","url_meta":{"origin":580566,"position":2},"title":"Yasser El Kady meets with Foxconn Technology delegation","author":"enterpriseam admin","date":"28 May 2018","format":false,"excerpt":"ICT Minister Yasser El Kady met yesterday with executives from electronics manufacturing giant Foxconn Group to discuss the development of Egypt\u2019s ICT sector and the potential for future cooperation with the company on a number of projects, according to a ministry statement. The delegation will be in town for one\u2026","rel":"","context":"In "Telecoms + ICT"","block_context":{"text":"Telecoms + ICT","link":"https:\/\/enterpriseam.com\/egypt\/category\/telecoms-ict\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":667143,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/19\/a-byte-into-this-weeks-tech-news\/","url_meta":{"origin":580566,"position":3},"title":"A byte into this week\u2019s tech news","author":"enterpriseam admin","date":"19 June 2025","format":false,"excerpt":"Ads in WhatsApp, AI talent wars, and the race to own the future of mobility were a few of the biggest moves in tech this week.","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1118.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":611802,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/12\/the-tech-industry-is-racing-to-take-the-lead-in-nanochip-market-india-wants-a-piece-of-the-apple-manufacturing-pie\/","url_meta":{"origin":580566,"position":4},"title":"The tech industry is racing to take the lead in nanochip market + India wants a piece of the Apple manufacturing pie","author":"enterpriseam admin","date":"12 December 2023","format":false,"excerpt":"Apple\u2019s move to India comes on the back of deteriorating US-China relations","rel":"","context":"In \"AI\"","block_context":{"text":"AI","link":"https:\/\/enterpriseam.com\/egypt\/tag\/ai\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/803.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":629457,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/31\/electronics-manufacturing-giant-foxconn-which-makes-the-iphone-for-apple-is-eyeing-egypt-opportunities\/","url_meta":{"origin":580566,"position":5},"title":"Electronics manufacturing giant Foxconn, which makes the iPhone for Apple, is eyeing Egypt opportunities","author":"enterpriseam admin","date":"31 May 2018","format":false,"excerpt":"INVESTMENT WATCH- iPhone manufacturer Foxconn eyeing Egypt opportunities: Prime Minister Sherif Ismail met on Wednesday with execs from Taiwanese electronics giant Foxconn Group to discuss potential partnerships in manufacturing, according to a cabinet statement. 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