PouYuen Vietnam, part of the Taiwan-based Pou Chen Group, is one of the largest employers in Ho Chi Minh City, formerly Saigon. There, a total of about 40,000 people work for the company. In February and May, a total of 12,000 people also lost their jobs at PouYuen.
The demand for clothing, shoes and furniture, of which Vietnam produces a lot, decreased in the first half of this year. Due to the high inflation and economic uncertainty, people are buying less sports shoes from, for example, Adidas and Nike. Not only PouYuen lost jobs: in the second quarter of this year alone, more than 217,000 people lost their jobs in Vietnam.
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