HANOI - Vietnamese textile manufacturer Vinatex says it could have to lay off up to half of its workforce - 50,000 jobs - if the impact of the coronavirus pandemic extends into May.
Le Tien Truong, CEO of Vinatex which has about 200 factories in Vietnam and is one of the country's biggest companies, said: "As things stand, 30 to 50 per cent of jobs will disappear by May."
He said Vinatex had first been hit when the coronavirus first emerged and supplies of Chinese raw materials stalled. Then, brands and retailers began cancelling or postponing orders as stores closed all over the US and Europe.
