Companies in Vietnam roll out layoffs as manufacturing slows

The S&P Global Vietnam Manufacturing Purchasing Managers' Index fell to 45.3 in May, well below the 50.0 threshold that separates expansion from contraction in manufacturing activity, marking a third straight month of declines. - VT

HANOI (Xinhua): Vietnam's economy is haemorrhaging jobs and may not stop bleeding until the end of this year, as companies face slumping global demand and prepare for a possible recession, Vietnam News reported on Monday (June 5).

A survey, which was released by the Private Economic Development Research Board, showed 82 per cent, out of 9,560 businesses, said they would either trim their workforce or cease operations due to a slowdown in new orders.