Workers at Ty Hung Company
According to the company's announcement, they have recently lost many export orders from key customers due to rising inflation. Despite various efforts, they won't be able to maintain their businesses as previously planned. Therefore, they took the decision to terminate the labour contracts with 1,185 workers.
Ty Hung operates in footwear production and export. The Taiwanese company has been operating in Tan Binh District since 1998 with 1,800 workers.
Many companies in HCM City and other southern localities are facing a drop in new export orders due to the impact of high inflation globally. Many companies in HCM City and other southern localities are facing a drop in new export orders due to the impact of high inflation globally.
HCM City Export Deputy Head Ho Chi Minh City Export and Industrial Zones Authority Tran Viet Ha said that lots of local enterprises have had to reduce production.
