With the global consumption contraction, hundreds of enterprises in Vietnam have laid off employees or shortened working hours due to the reduction of orders, affecting 624,786 people, of which more than 30,000 have lost their jobs. The industry categories are concentrated in wood processing, textiles, leather shoes, food, electronics and so on.
Generally speaking, the end of the year is the peak season for the production and operation of Vietnam’s manufacturing industry. However, due to inflation, sluggish demand and overstocking in European and American markets, Vietnam’s manufacturing boom is facing a cold winter.
Vietnam News Agency (VNA), the state-run media, reported that in the past month, more than 400 enterprises in Vietnam had to lay off employees and stop work because of the shortage of orders.
In Ho Chi Minh City, Yixiong Co., Ltd., a foreign-funded enterprise specializing in leather shoes for export in Pingxin District, informed nearly 1,200 employees that they must leave from December 1; Vietnam’s Samho LLC, based in Guchi County, also expects to cut 1, 400 jobs, or 16% of its 8, 733 employees.
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Post time: Nov-27-2022