Apple Inc. (NASDAQ:AAPL) has been criticized by a watchdog group for not addressing poor working conditions in China.
Apple Inc. Faces Criticism Over China Conditions
The Hong Kong-based Students and Scholars Against Corporate Misbehavior (SACOM) said Apple Inc. (NASDAQ:AAPL) has not assigned any of its $98 billion cash pile to address the poor working conditions for factory workers in China.
In a letter to Apple Inc. (NASDAQ:AAPL) CEO Tim Cook, SACOM said, “Apple Inc. (NASDAQ:AAPL) announced that it would finally share some of its $100 billion in cash reserves with shareholders. It is regrettable that Apple Inc. (NASDAQ:AAPL) did not show any intention to share the revenue with its production workers whose labor helped the company become one of the most profitable corporations in the world.”
Apple Inc. (NASDAQ:AAPL) company shares are currently standing at 606.98.