ACV workforce falls by 1,360 in third quarter
The Long Thanh airport developer’s staffing reductions reached nearly 3,700 for the year, while nine-month employee payments fell around 13%.
Airports Corporation of Vietnam (ACV) shed 1,360 staff during the third quarter, its financial statements show. The developer behind Long Thanh International Airport has reduced its workforce by nearly 3,700 since the year began.
September ended with just over 7,110 employees, against a starting headcount exceeding 10,800. Staffing declined for three consecutive quarters. Payments to employees exceeded ₫2.63 trillion over the nine-month period, a decrease of around 13% compared with a year earlier.
The reductions followed changes to ACV’s management structure. Its April annual report put the number of departments reporting to the board and executive management at 12, compared with 17 previously. Management placed further reorganisation and streamlining first on its corporate governance agenda for the year.
Nine-month revenue exceeded ₫19.22 trillion, showing little change from a year earlier. ACV also posted nearly ₫10.8 trillion in pre-tax profit. That represented a small annual decline, although earnings remained well above the company’s target for the full year.
At Long Thanh in southern Vietnam’s Dong Nai Province, first-phase construction costs stood at nearly ₫44.13 trillion as September ended, a rise of 29% from the year’s opening level. Operations are expected to start on 24 December, with approximately 366 flights weekly, of which 322 would be domestic.
