According to the Q2 2025 report from a recruitment and employment agency, more than 2,500 employees in banking, technology, and the fast-moving consumer goods (FMCG) sector were laid off in the first half of the year. Industrial zones in textiles, footwear, and electronics have also reported significant staff reductions.
Which sectors are cutting the most jobs?
Financial reports for Q2 2025 and the first six months of the year from publicly listed companies show layoffs occurring across multiple industries.
In retail, Mobile World Investment Corporation cut more than 1,000 jobs in the first half of the year. Its total headcount dropped by 1,353 employees (2 per cent), leaving 61,779 staff as of June 30.
Vietnam’s technology sector is following the global downsizing trend. For the first time, FPT Corporation reduced its workforce, cutting 497 jobs (1 per cent). Despite the reduction, it remains one of the country’s largest technology employers, with 54,149 staff. VNG Corporation also shed 92 jobs (3 per cent) in the same period.
The financial sector saw thousands of job losses in the first half of 2025. LPBank recorded the sharpest drop, cutting 1,986 employees. SSI Securities Corporation reduced its workforce by 151 jobs (10 per cent), while Vndirect cut 88 jobs (8 per cent).
Other sectors were also affected. Vinamilk reduced its workforce by 311 jobs (3 per cent), while Viet Uc Seafood Corporation cut 292 jobs (16 per cent).
Layoffs expected to continue
Dieu Hoang Tu Uyen, Research and Human Resources Consulting Director at Anphabe, said many key industries are restructuring, making workforce reductions inevitable.
In finance, the drive for efficiency and digital transformation is replacing manual and physical processes with digital platforms focused on customer experience. Cuts in the sector are largely strategic, aimed at reshaping business models and optimising operations.
Other sectors on a similar path include technology, retail, FMCG, and logistics. Uyen noted these were long-term structural shifts, so layoffs are likely to continue over the next two to three years, progressing in line with each company’s transformation roadmap. Some businesses have set explicit targets to reduce headcount in specific functions as technology boosts productivity.
In contrast, industries such as real estate, construction, manufacturing, and exports are cutting staff as a defensive response to economic challenges or market cycles. Trends in these sectors depend heavily on government policy, consumer sentiment, and global market conditions.
Anphabe have predicted that once the economy stabilises and macroeconomic policies run smoothly, hiring will rebound, though a significant recovery in the short term is unlikely.
Mismatch between supply and demand
A survey conducted in May-June with nearly 3,000 participants (about 2,000 workers and 1,000 employers) found that layoffs are increasingly common, with 72.7 per cent of laid-off employees actively job hunting. However, only 24.7 per cent secured a suitable job quickly, highlighting the challenges of re-entering the labour market.
On the employer side, 77.4 per cent of businesses said recruitment has become more difficult compared to the same period last year, especially for permanent and mid-level positions regarded as the backbone of operations.
The report noted a clear paradox, as both supply and demand exist, yet they have failed to connect. The disconnect stems less from numbers and more from mismatches in expectations, skills, and mindset.
