English Review
Struggling enterprises in HCM City ensure payment of Tet bonus
12:23 PM 2022-12-23
Enterprises have managed to give Tet (Lunar New Year) bonuses equal to at least one-month salary to employees amid a sharp drop in orders for exports and suspension of production, the Ho Chi Minh City Labour Federation said.
Workers at a garment manufacturing factory in HCM City. (Photo: VNA)
Viet Thang Jean Co. Ltd. in HCM City’s District 9 announced that it would offer one month salary as Tet bonus to its employees.

This year’s average bonus at the company is not higher than 10 million VND (422 USD) a person, said Pham Van Viet, the company’s general director.

The company saw its orders for exports to the EU and the US drop by half from the third quarter onwards, Viet said.

It has been seeking new markets for exports and exploring the domestic market to avoid job cuts, he said.

Nissei Electric Vietnam Company in Linh Trung I Export Processing Zone has suffered a decline of 20-30% in orders for exports this year.

The company managed to keep its payroll unchanged and maintain Tet bonuses equal to more than 13 million VND (548 USD) per employee.

The company’s trade union will also present Tet gifts to employees.

Freetrend Vietnam Co. Ltd. at Linh Trung I Export Processing Zone, which has more than 20,000 employees, planned to increase Tet bonuses by 20% compared to last year.

Lieu Quang Vinh, chairman of the company’s trade union, said orders for exports began to drop in the fourth quarter and the decrease in orders is forecast to continue next year.

With the increase in Tet bonus payments, the company hoped that all employees would enjoy the Tet holiday and would return to work after Tet, Vinh said.

Phan Thi Thanh Xuan, vice president of the Vietnam Leather, Footwear and Handbag Association, said enterprises have pledged to ensure the rights and interests of employees, particularly the payment of Tet bonuses.

Labour-intensive industries, which account for the lion's share of the country’s total export turnover, offered Tet bonus higher than last year’s level, she added.

Pham Chi Tam, deputy chairman of the HCM City Labour Federation, said many enterprises employing a large number of employees have increased Tet bonuses by 10-20% compared to last year’s figures.

However, many enterprises have yet to announce their plans on Tet bonus payments, meaning many employees might spend the Tet holiday without any bonus, Tam said.

At least 155 enterprises have suffered a drop in orders and more than 50,100 workers had to reduce their working hours and pay as a result, according to the city’s Labour Federation.

The Ministry of Labour, Invalids and Social Affairs asked localities nationwide to report to the ministry by December 25 plans for employees regarding Tet  bonuses./.VNA
Tags: Tet bonus