Taiwan shoemaker Pou Chen to cut 1,220 more jobs in Vietnam -state media
23/08/2023 13:19
HANOI, Aug 23 (Reuters) - Taiwan's Pou Chen Corp 9904.TW , the world's
largest manufacturer of branded sports footwear, plans to cut another 1,220 jobs
at its factory in Ho Chi Minh City, its third round of job cut this year due to
weak demand, Vietnamese state media reported on Wednesday.
The PouYen Vietnam factory, which supplies global companies such as Nike
Inc. NKE.N and Adidas , is one the largest employers in the city,
with some 40,000, down from 50,500 workers earlier, state radio broadcaster VOV
reported.
PouYuen Vietnam has submitted the new job cut plan to city authorities, VOV
said, adding the move was in response to the fact that demand "hasn't recovered
and few partners have placed new orders".
Vietnam is a global hub for manufacturing, but has this year faced with
weakening demand, with overall shipments in the first seven months of this year
falling 10.3% from a year earlier.
Pou Chen did not immediately respond to a request for comment.
(Reporting by Khanh Vu; editing by Jason Neely)
((khanh.vu@thomsonreuters.com; +84 24 38259623; Reuters Messaging:
khanh.vu.thomsonreuters.com@reuters.net))