Layoffs at a major factory in Vietnam
POU CHEN, with a manufacturing plant in Ho Chi Mihn City, is a company that produces footwear for various brands, including ADIDAS, NIKE and ASICS. It has a staff of 50,000 employees, but recently, 3,000 positions have been terminated, and it is anticipated that an equal number of contracts will not be renewed by the end of the year.
The current macroeconomic uncertainty has led to a weakening in the demand for footwear, which is a challenge the company is facing. The sector is also experiencing impacts on exports and employment due to the surplus in inventories that international distributors are seeking to limit, according to industry sources.