It’s debatable whether or not sophisticated workplace robots will destroy millions of jobs around the world, or simply change the nature of many jobs. But one Chinese manufacturing company is making a huge bet on robots — and preparing a boatload of pink slips for its human workers.
The South China Morning Post reported today that Shenzhen Evenwin Precision Technology Co., a manufacturing company that makes cell phone parts and other electronics, is planning to replace roughly 90 percent of its 1,800-person workforce with machines, leaving roughly 1,600 people out of work. The company, whose chairman became a billionaire in March, is planning to spend $322 million on a new factory in Dongguan that will use “only robots for production,” according to the outlet, with a small human staff of 200 to keep tabs on the machines.
This is not a one-off occurrence. Foxconn, China’s largest employer and the company that assembles parts for the iPhone…
View original post 308 more words