Apple Inc. (NASDAQ:AAPL)’s die-hard fans who would stand in line for days to get the newly released version of the company’s iPhone apparently have blood on their hands. CNBC’s Eunice Yoon explained the shameful secret involving the company’s high margins, according to a BBC documentary which examines the working conditions of two Apple factories, Pegatron and Foxconn.
“[…] They found working conditions that broke the company’s standards, excessive working hours, and cramped sleeping quarters, for example. It also alleges that employees routinely forced to work overtime, sometimes without proper pay and Apple Inc. (NASDAQ:AAPL) has faced similar charger in past, the most prominent in 2010 when 14 workers at another major supplier called Foxconn committed suicide […],” reported Yoon.
If a company of Apple Inc. (NASDAQ:AAPL)’s stature has been carrying out such activities in order to boost its bottom line, how can we hold the smaller companies accountable for the underhand activities that they might be involved in for their survival in today’s competitive business environment.
Moreover, the incident also reflects badly on us as Apple Inc. (NASDAQ:AAPL) consumers who have not only let the exploitation of workers take place, by staying aloof of the company’s operations, but also endorsed it by purchasing the company’s products. The episode reflects badly on us on grounds of humanity.
While we are quick to denounce companies involved in damaging the environment, such as energy companies, shouldn’t human rights take precedence over those issues. We talk about responsible investing where ETFs and funds are formed from environment friendly companies, and many of them have significant percentage invested in Apple Inc. (NASDAQ:AAPL). Isn’t the whole notion just hypocritical then?
“[…] Apple Inc. (NASDAQ:AAPL) also addressed the conclusions of that documentary releasing a statement by one of its Senior VPs Jeff Williams saying, like many of you, Tim and I were deeply offended by the suggestion that Apple would break a promise to the workers in our supply chain or mislead our customers in any way […],” informed Yoon.
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