In the first 6 months of the year, thousands of personnel in the banking and technology sectors were streamlined

According to Manpower Company, in the second quarter of 2025, in Vietnam, more than 2,500 personnel in the banking, technology, and express- consumer goods (FMCG) sectors were streamlined. The textile, footwear, electronics industries also reported large-scale personnel cuts.

Statistics from the financial reports for the second quarter of 2025 and the first 6 months of the year of listed companies also show that the situation of personnel cuts is very common. Many businesses have cut staff by thousands of people.

According to Ms. Dieu Hoang Tu Uyen - Director of Research and Human Resources Consulting of Anphabe Joint Stock Company, current developments in the market have caused many key areas to be transformed and streamlined, and human resources are an inevitable part of this process.

Ms. Tu Uyen said that in the financial sector alone, cutting personnel is a strategic move due to restructuring and transforming technology, a initiative to change business models, optimize operations and anticipate the future. Some businesses even set targets to gradually reduce the number of employees in some functions over time when the corresponding performance when applying pure technology increases.

On the contrary, Ms. Uyen said that there are also some industry groups and enterprises where the trend of personnel cuts is a result of a defensive reaction to a difficult economy and market cycles.

"When the economy is stabilized and the macro policy is operated more smoothly, the recruitment demand will return strongly, but it is unlikely to be clear in the short term," Ms. Tu Uyen predicted.

See the original here