Wednesday May 25, 2016

Foxconn Replaces 60,000 Factory Workers With Robots

A government official in China just announced that Foxconn has replaced 60,000 factory workers with robots. How long before other companies do the same? Robots are cheaper, work 24 hours a day, seven days a week with no overtime, can't call in sick....kinda like human employees in China, just less robotic.

Former McDonald's chief executive Ed Rensi recently told the US's Fox Business programme a minimum-wage increase to $15 an hour would make companies consider robot workers. "It's cheaper to buy a $35,000 robotic arm than it is to hire an employee who is inefficient, making $15 an hour bagging French fries," he said.