23 Feb Report: Pou Chen To Cut 6,000 Jobs In Vietnam
Posted at 22:53h in FDRA, Home, Latest News
Taiwan’s Pou Chen Corp., which makes footwear for Nike, Adidas and other athletic footwear companies, plans to cut around 6,000 jobs at its Ho Chi Minh City plant in Vietnam due to weak demand, sources told Reuters.
The company’s Pouyuen Vietnam factory will cut 3,000 jobs this month and not extend labor contracts for another 3,000 workers later this year, two local officials familiar with Pou Chen’s plans told Reuters. The factory, one the biggest employers in Ho Chi Minh City, reportedly has 50,500 workers.
On February 10, Pou Chen reported sales reached New Taiwan Dollar (NTD) 24 billion ($843 mm) for the month of January, down 8.2 percent year-over-year. For 2022, sales were NTD 267.5 billion ($8.8 bn), up 11.5 percent.