Hewlett-Packard Says No To Child Labor In China – HPQ, AAPL

Boston, MA 02/10/2013 (wallstreetpr) – Following the footsteps of Apple Inc. (NASDAQ:AAPL) the electronics industry giant Hewlett-Packard Company (NYSE:HPQ) has imposed stern limits on student labor at factories of its Chinese suppliers. But the company vows it would monitor student labor at its supplier’s factories based in China.

Hewlett-Packard Company (NYSE:HPQ)  is determined to go one step ahead of Apple Inc. (NASDAQ:AAPL) by demanding its Chinese suppliers employ student volunteers only up to 20% of their total workforce in peak production season. The students must also be entitled to a transparent and unbiased grievance handling process. The company also advises its Chinese suppliers to assign job roles for student volunteers which are at par with their academic background. students working at plants must be given jobs that complement their studies. The company is aiming at lowering the upper cap to 10% of the total workforce, however no firm date was announced when the change will be implemented.

Chinese labor market, is fraught with shortages that transpired from the one child policy which the country imposed to control population growth during the last two decades. Since the proportion of adults of a legal working age is sparse, an alternate workforce comprising of students has to be put to use.

According to a news report many schools in China assign their students to work in factories which are ready to pay for the services. The schools also keep receiving tuition fees from the students during this forced assignment, the report revealed further. Since there is no veto power granted to the students many complain of being placed in job roles that are not related to their studies, where they have to work long hours for short notice jobs. Sometimes the work orders are also initiated from the local government bodies.

The shares of Apple Inc. (NASDAQ:AAPL) were up by 1.44% to close at $474.98. The shares of Hewlett-Packard Company (NYSE:HPQ) were up by 2.62% to close at $16.87.

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Published by Chris Brown

About Me: I have a Phd in Economics Gender: Male Interests: Playing games like cricket, volleyball Favorite Music: hip hop, rock, jazz

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