In a document sent to the Department of Labor, War Invalids and Social Affairs of Ho Chi Minh City, PouYuen Vietnam Co., Ltd. (Binh Tan District, Ho Chi Minh City) said it plans to terminate labor contracts with 1,221 workers in September. The reason is that orders have not recovered and the factory lacks work.
According to the above plan, the enterprise will negotiate with each laid-off worker about severance pay, salary date, social insurance regime, etc.
PouYuen Vietnam continues to implement a severance allowance regime that benefits employees (Illustration photo: Hai Long).
In this round of cuts, PouYuen Vietnam also implements the severance allowance regime for employees similar to previous cuts in 2023.
Specifically, the company pays for the entire time the employee works here, for each year of seniority, 0.8 months of salary. The salary used to pay severance pay is calculated as the average of 6 months of salary before the termination of the labor contract.
During this period, PouYuen Vietnam plans to spend about 165 billion VND in severance pay for more than 1,200 laid-off workers.
Of which, the highest level that workers receive is about 370 million VND, the lowest is nearly 19 million VND. The average subsidy level for these 1,200 workers is 133 million VND/person.
Workers who receive large severance payments are long-term, high-salary workers.
Previously, PouYuen Vietnam had cut its workforce for the first time in February (officially stopped in March) with more than 2,300 people. In this period, the most senior workers were supported with 379 million VND, and those who had just started working for 1 year were supported with 12 million VND.
For the second time, PouYuen Vietnam reduced more than 5,700 people, divided into 2 phases in June and July. The highest support recipient this time was 421 million VND, the lowest was 15 million VND.
In total, this year, this company used thousands of billions of VND for severance pay when cutting about 10,000 workers.
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