SHENZHEN – Hon Hai Precision (Foxconn) will increase its China workforce 9% to one million this year, and another 20% to 30% in 2011.

The world’s largest contract electronics assembler plans to cut its Shenzhen-based workforce to between 300,000 and 350,000 staff within the next five years, down from 470,000 today, as it moves production inland to lower-wage provinces.

The company also expects to limit overtime to 36 hours per month, down from about 80 hours currently.