Over 1,200 businesses in HCMC expected to cut jobs this year

HCMC – In response to tough business conditions, more than 1,200 enterprises in HCMC are planning to cut jobs this year, reported the Centre for Forecasting Manpower Needs and Labour Market Information HCM City (FALMI).

A survey conducted among nearly 10,000 businesses on labor quality and demand in the past three months showed that over 1,200 businesses, accounting for 12.73% of the total respondents, intend to lay off staff this year, according to FALMI.

The sectors with the most significant workforce reductions include wholesale and retail, house building, real estate, and car sales and repair services.

In addition, fields such as architecture, technical inspection and analysis, specialized construction, warehousing and transportation, and civil construction are also witnessing substantial layoffs.

According to the survey, over 61% of enterprises in HCMC have reduced working hours or implemented rotating work schedules, while 9% of respondents have temporarily suspended employees with partial remuneration support.

Meanwhile, 19% of the surveyed businesses stated they would reduce their workforce and 9% suspended employees without any remuneration assistance.

The survey indicates that in the third quarter of the year, 54,200 employees were laid off or underemployed across the country, primarily at foreign-invested enterprises. Of these cases, 31.9% and 30.9% were in the footwear-leather and garment-textile sectors.

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