An auditor from the Fair Labor Association went into Foxconn Technology Group, one of Apple's Chinese manufacturers, and found several issues that will need to be addressed, Bloomberg reports.
Earlier this week, Apple said it is conducting special voluntary audits of its plants.
The head of the Fair Labor Association, Auret van Heerden, spoke with Bloomberg and said he believes there will be "some very significant announcements in the near future," but did not go into detail about the findings.Apple has come under fire recently for alleged labor practices at its Chinese manufacturers. The iPhone maker's CEO, Tim Cook, addressed the issue in an internal letter to employees, as well as at a recent investor conference. "Apple takes working conditions very, very seriously," said Cook, during the event, run by Goldman Sachs. "We care about every worker - we believe that every worker has a right to a fair and safe work environment." Shares of Apple fell 0.02% to close at $502.12 on Friday. Apple has not yet responded to a request for comment on this story. Interested in more on Apple? See TheStreet Ratings' report card for this stock. Check out our new tech blog, Tech Trends. --Written by Chris Ciaccia in New York >To follow the writer on Twitter, go to http://twitter.com/commodity_bull. >To submit a news tip, send an email to: email@example.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV