Garment enterprises will cut 50-70% of the labor force compared to before?

Question

Mr. Phan Van Men, Director of City Social Insurance, said that in the coming time, many businesses (enterprises) participating in the industrial revolution 4.0, using modern machines and technology in production will significantly reduce the workforce. A sharp decrease in labor will take place in foreign-invested enterprises operating in the garment sector, processing exports. Many garment enterprises will reduce 50-70% of their labor force compared to before.

Up to this point, the new social insurance city has obtained approximately 40% of the total of more than 61,000 billion VND of social insurance assigned. Currently, businesses in the city have social insurance debt up to 2,700 billion VND, of which 387 billion VND cannot be claimed due to dissolution, bankruptcy and disappearance of enterprises. Recently, the City Social Security sent a dossier of Nam Phuong Co., Ltd. owed a debt of 27.8 billion VND to the City Police to consider prosecuting the prosecution.

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