Considering they get: Room & Board, Food, Medical Facilities, Entertainment, Dental and other amenities on their campus along with making more then the average line worker, they are doing far better then most Chinese in the same position.
Also $1.50 over there is not the same as $1.50 over here. As usual, someone who has no clue what the term 'relative' means.
Someone talking sense

There are headlines here, most obviously the pay rate which has been entirely taken out of context. As people have already said $1.50/hour is a reasonable salary with the extras added on.
As someone who is married to a Chinese mainlander, spent a lot of time in China, and been to almost all of provinces, the Foxconn workforce do earn a decent wage compared to other manufacturing posts and much more than when Apple first entered. As Apple has prospered, so have Foxconn staff. Another 25% rise in the offing? There's a reason openings are always oversubscribed and rural workers, used to taking in a few hundred RMB per month, will gladly work at Foxconn or other manufacturing warehouses for 2,000-2,500 RMB per month with many expenses paid. It's simply a better proposition, long or short term, in which they use to save money and send back to families or extended families.
That's not to say I agree with any of the rates or policies but there needs to be context here. Foxconn provides accommodation, medical care, and so on. For comparison to other Chinese professions taken by young workers or rural people migrating to cities, a security guard in Beijing will be looking to take home around 3,000 RMB per month. Other cities less so. I've seen that job in action and whether it's in the Wangfujing branch of Bank of China or outside an office in Jishuitan, they do pretty much nothing but stand around all day. Those outside guarding the underground car parks get the -20C bite of winter for good measure or sweltering 40C summers with 100% humidity.
A waiter in a standard Chinese restaurant will work similar hours and perhaps not even make 2,000 RMB a month. And that's Beijing, where single bedroom apartments rent for 3,000 upwards depending on which loop line you're prepared to venture in from. For measure, the subway is still 2 RMB per journey to most places. That could be 2 stops or 20. Most workers in this bracket tend to house/apartment share with dorm-style rooms. 1,000 RMB accommodation for a bed in a shared room and the rest on food and travel. My wife's friend lives in Beijing, is qualified in accounting but only takes home 5,500-6,000 RMB per month. That's also the salary of many local teachers in state schools. 2,500 RMB in a lower cost city like Chengdu isn't too bad.
These audits, while seemingly good are open to abuse. GAP is a typical example of audits being 'prepared' for and subcontractors doing what they need to. However, if I was a Foxconn worker, I'd welcome them. At least they know the wide world is watching - much more than most other places in Shenzen or China get.