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Foxconn unit to ax over 10,000 jobs on automation plans

Innolux, a unit of Hon Hai Precision Industry Co. Ltd., or Foxconn, is looking to ax more than 10,000 jobs this year to make up to 75% of the company's production fully automated, Nikkei Asian Review reported, citing honorary Chairman Tuan Hsing-Chien.

"We will reduce our total workforce to less than 50,000 people by the end of this year, from some 60,000 staff at the end of 2017," the publication quoted Tuan as saying in a press conference.

The plan follows Foxconn chairman Terry Gou's announcement Feb. 2 that the company would invest $342 million to upgrade its manufacturing process through artificial intelligence.

A separate report by the Milwaukee Journal Sentinel noted that the electronic manufacturing services company is planning to house its North American headquarters in Milwaukee.