Vietnam shoemaker for Nike and Adidas cuts almost 6,000 jobs

HANOI, May 13, 2023 (AFP): One of Vietnam's largest shoe manufacturers for brands such as Nike and Adidas will cut thousands of workers at the end of next month, blaming a slump in orders, state media said Saturday.

The country is among the world's largest exporters of clothing, footwear and furniture, but has been badly affected by the cost-of-living crisis in Europe and the United States, with the buying power of worldwide consumers shrinking.