Enterprises plan to cut more than 15,000 employees
Photo by Huu Khoa.
According to the Vietnam General Confederation of Labor, 1,235 companies in 44 provinces and cities have been impacted by production and have had to cut their workforce. With 646 private businesses making up 52.27% of the total; 590 businesses with foreign investment make up 47.33%.
The most affected industries are textiles, leather and footwear, wood processing, electronics, and other fields.
More than 472,000 people work for the impacted businesses as a whole, which accounts for 64.54% of all business employees. There are 118,889 employees at private businesses or 25.18% of all businesses; there are 353,324 employees at businesses with foreign investment, or 74.82% of all businesses.
With 171,414 employees (accounting for 36.30%), the leather and footwear industry has the highest employment impact, followed by textiles with 131,340 employees (accounting for 27.81%), wood processing with 63,681 employees (accounting for 13.49%), electronics with 19,535 employees (accounting for 4.14%), mechanical engineering with 5,239 employees (accounting for 1.11%), and other occupations with about 81,000 employees (accounting for 17.15%).
172,088 employees—or 36.44% of all impacted employees—work in the industrial park, making up the total number of affected employees.
Notably, there are 9,441 employees who are currently on maternity leave and 30,279 female employees who are 35 years of age or older, which affects their ability to raise children under 12 months old.
Source: VnEconomy
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