Monday , December 11 2023

Half of HCMC businesses to struggle to pay Tet bonus

Half of HCMC’s companies will have difficulty paying their workers Tet bonuses since their business was hit severely by the Covid-19 outbreak, a survey has found.

The survey, done by the city Department of Labor, Invalids and Social Affairs, polled over 1,000 companies employing 175,000 workers.

Deputy director of the department, Huynh Thanh Khiet, said the highest bonuses would be paid in the power, electronics, finance, insurance, and banking sectors.

Small and medium-sized companies would be paying “very low” bonuses, he said.

But most companies would pay bonuses, he added.

City deputy chairman Duong Anh Duc has instructed the department to subsidize businesses to enable them to pay bonuses and avoid strikes and mass resignations by workers.

The city also plans to hand out VND1.8 trillion in Tet support, with each family receiving VND1.15-3.1 million ($50.7-137). Tet, the most important Vietnamese festival, falls early February this year.

The neighboring province of Dong Nai last week saw thousands of workers at Taiwanese footwear maker Pouchen Vietnam strike work after hearing the Tet bonus, the biggest and most anticipated reward for workers, would be lower this year than last year.

The Tet bonus employers pay is a major factor in workers deciding to remain at a company or quit.

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