Vietnam's FPT Group and Sacombank Lead Major Workforce Reductions in Early 2026

In the first half of 2026, fourteen Vietnamese companies collectively cut 21,730 jobs, reflecting a broad wave of corporate restructuring. The largest decline was reported by FPT Group, which reduced its workforce by 9,722 employees, dropping from 54,110 at the end of 2025 to 44,388 by June 2026. The cut follows the Ministry of Public Security’s takeover of a 50.17% state stake in FPT Telecom, prompting the transfer of nearly 10,000 telecom staff.

Sacombank recorded the steepest percentage drop among banks, shedding 3,738 workers—a 22.23% reduction. Other banks also trimmed staff: VIB (724), Eximbank (506), ABBank (460), BIDV (406), MB (228), MSB (212) and TPBank (165). Overall, the banking sector accounted for eight of the fourteen firms, eliminating 6,439 positions. Additional cuts were seen at PV Drilling (503), Masan Consumer (301) and Dak Lak Rubber (213).