PouYuen to lay off over 1,200 employees

August 24, 2023

HCMC – PouYuen Vietnam, one of the largest employers in HCMC, is set to lay off 1,221 workers with permanent contracts due to a shortage of new orders, according to an official from the HCMC Department of Labor, Invalids, and Social Affairs. This recent reduction in workforce follows earlier layoffs in February, which impacted 2,300 employees, and in May, which affected 5,700 workers. The May layoff marked the largest workforce reduction by PouYuen in HCMC since its establishment in 1996. PouYuen Vietnam has stated that the need to restructure operations and implement job cuts arises from the mounting challenges in securing new orders from foreign partners. Workers being laid off will be entitled to an allowance equivalent to 0.8 month’s salary for each year of employment.

The source of this news is from The Saigon Times