Foxconn replaces 60,000 humans with robots in China

The first wave of robots taking over human jobs is upon us. Apple Inc. AAPL, 1.76% supplier Foxconn Technology Co. 2354, -0.41% has replaced 60,000 human workers with robots in a single factory, according to a report in the South China Morning Post, initially published over the weekend. This is part of a massive reduction in headcount across the entire Kunshan region in China's Jiangsu province, in which many Taiwanese manufacturers base their Chinese operations. Roughly 600 companies are reportedly looking to reduce headcount with robots, as part of an effort to accelerate growth and reduce costs, according to the Chinese newspaper, which cited data from the Kunshan government. Last year, 35 Taiwanese companies, including Foxconn, spent a total of 4 billion yuan ( 610 million) on artificial intelligence as part of this initiative, according to the report.