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Saturday, June 22, 2024

FLC cuts workforce by 60% in reshuffle

The Saigon Times

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HCMC – As part of its restructuring plan, FLC has reduced its workforce by 60% while continuing employing over 3,500 people in the group.

An extraordinary general meeting yesterday was attended by more than 100 shareholders representing more than 33.7% of the voting shares. This meeting looked into issues that were unresolved in the previous session due to insufficient attendance.

Currently, FLC’s board has five members, including Le Ba Nguyen as board chairman, Vu Dang Hai Yen as first vice chair, Tran Thi Huong, and two newly-appointed members, Le Tien Dung and Ngo Dang Hoang Anh.

In line with its restructuring plan, the group will focus on three core business fields this year: real estate, resort, and merger and acquisition (M&A).

FLC is set to start work on seven real estate projects in Thanh Hoa, Halong, Quy Nhon, Gia Lai, and Quang Binh.

The group targets revenue of VND1,187.2 billion from real estate business this year.

It is actively seeking collaboration with partners to operate resorts in Halong, Sam Son, Quang Binh, and Quy Nhon.

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