HCMC – PouYuen Vietnam will provide financial aid for 4,439 workers whom it laid off on May 20, with a maximum amount of VND452 million per person, reported the local media.
According to the HCMC Department of Labour, Invalids and Social Affairs, PouYuen Vietnam, based in Binh Tan District, HCMC, recently held a meeting with their workers to terminate the labor contracts with 4,439 employees.
This is the second time the company has cut their employee numbers in the year till now after the first round of layoffs in February.
The number of laid-off workers this time is 43 workers fewer than the company previously planned.
The company plans to spend a total of VND525 billion supporting laid-off employees, with an average allowance for each employee of VND118 million. The maximum financial support the company has offered is VND452 million, while the lowest is VND16.5 million.
Around 2% of the laid-off workers with a seniority under five years will receive severance allowances ranging from the lowest level to VND31.2 million.
Payments will be made to workers within seven working days since their labor contracts are terminated.
According to PouYuen Vietnam, from now until year-end, despite hardships that the company may face, it is striving to maintain jobs for workers after three rounds of mass layoffs, with one in February, one in May and one this June.
Earlier, the fact that PouYuen Vietnam will continue to lay off another 5,700 workers, including in May and this June due to a sharp fall in new orders, drew significant public attention, as the company has the largest number of workers in HCMC, with over 50,000 employees, sometimes even exceeding 100,000 employees.