Taekwang MTC Vina in Long Bình Industrial Zone, Biên Hòa City, Đồng Nai Province. — Photo courtesy of the company

ĐỒNG NAI — Eight hundred workers of a plastic fabric manufacturer TaeKwang MTC Việt Nam in the southern province of Đồng Nai lost their jobs, according to the province's labour department.

The company has been facing a drop in manufacturing orders since late 2022, and before deciding on letting go of its workers, the company has reached an agreement with the employees on monetary compensation, according to Đồng Nai labour department.

All employees who are laid off will be compensated with half a month's salary per year of service, with a maximum of 11 months' salary per employee.

In addition, Taekwang will provide each worker with over VNĐ14 million (about US$600).

Most of the workers at the company have worked here for many years.

The workers are mostly around the age of 40, with a handful of new young recruits between the ages of 18-25.

Đồng Nai labour department is coordinating with relevant agencies and companies to help the laid off workers find new jobs.

In recent months, due to a lack of orders, companies operating in the fields of textiles, footwear, furniture, and mechanics in Đồng Nai Province started having to cut working hours, reduce or totally cut back on overtime.

The local authorities are closely monitoring the situation to ensure the rights of workers in case they lose their jobs. — VNS