Apple Reportedly Will Provide Subsidies to Foxconn Workers

We'll wait for the dust on this latest report to settle for offering up a virtual high-five to the Apple workers. The subsidies will reportedly amount to 1 percent to 2 percent of the profits from Apple products.

Apple's sudden profit sharing generosity stems from the company's own investigation into the numerous suicides that have taken place among Foxconn employees for the past several months. As the Chinese website tells it, Apple feels that low wages are playing a big role in the suicides, and it's Apple's hope that these subsidies will alleviate some of the financial pressures Foxconn workers are facing.

In case you haven't been following, more than a dozen Foxconn workers have jumped off buildings since the beginning of 2010, almost all of which have proved fatal. Foxconn is one of the largest OEM suppliers of electronics for a variety of companies and products, no one seemed willing to publicly address the rash of suicides. That all changed when Foxconn CEO Gou Tai-Ming issued a public apology last week, followed by several companies issuing statements of their own, the result of widespread media attention.