Sixty three percent of Vietnamese employees would quit if coronavirus-linked salary cuts continue unabated, a survey has found.
Among nearly half of respondents okay with a pay reduction, 69 percent would only accept the cut to last three months at most, according to a survey of online recruitment company VietnamWorks.
Most want a reduction of 30% or less, an April survey of 3,400 employees and 400 employers said.
The pandemic has caused major disruption in the Vietnamese labor market, with 40% of employees saying they have lost their jobs, while 30% see their incomes reduced.
Six out of ten employers say they have cut employee pay by at least 25 percent, some by as much as 80 percent or more.
On the matter of layoffs, most employers have opted to cut low-skilled and inexperienced staff, looking to hire experienced staff when business returns to normal.
But recruiters have given mixed answers about when to resume hiring.Nearly 36 percent said between three and six months, while 20 percent remained mothers.
VietnamWorks says tally work is now recovering after Vietnam ended its 3-week social distancing campaign on April 23, with the number of job postings on its website up 20% for the week. the first of May compared to a week earlier.
Two-thirds of employers said they would prioritize hiring the employees they gave away, while 60 percent of employees said they would accept if asked to return.
A General Statistics Office report showed that since mid-April, five million workers had seen their hours reduced or lost their job due to the pandemic.
The number of companies suspending business in the first quarter rose 26% year-on-year to 18,600, it added.
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