Vietnamese shoe manufacturer for brands such as Nike and Adidas, PouYuen Vietnam, announced it would cut nearly 6,000 jobs with permanent contracts due to a slump in orders. This will be the company's biggest layoff since it began operations in 1996 in Ho Chi Minh City. The country’s apparel export industry has been hit due to the cost-of-living crisis in Europe and the US, leading international consumer buying power to shrink.
