What’s Going On: After Recent Hiring Spree, The Gioi Di Dong Lets Go of Nearly 1,400 Employees.

According to The Gioi Di Dong (MWG)’s Q2 2025 financial report, the company reduced its workforce by 1,353 employees, or 2% of its total workforce, in the first half of 2025. As of June 2025, MWG employed a total of 61,779 people. Despite the significant reduction, it remains the company with the largest workforce in the stock market.

This is not the first time The Gioi Di Dong has downsized on a large scale. In fact, over the past three years, the company has consistently adjusted and reduced its headcount. At its peak in Q3 2022, the company had a workforce of over 80,000 people. And at its lowest, The Gioi Di Dong had approximately 59,500 employees – the lowest number since 2020.

Towards the end of 2024, The Gioi Di Dong resumed its recruitment drive, but this year, it has again downsized. Thus, from its peak to the present, the company’s headcount has decreased by more than 18,450 people.

Explaining the continued downsizing, MWG stated that this plan is part of a comprehensive restructuring strategy, including closing or merging underperforming stores, to “increase quality and reduce quantity” so that The Gioi Di Dong can go further, faster, and with better quality.

Previously, in 2023, Mr. Nguyen Duc Tai, Chairman of The Gioi Di Dong’s Board of Management, addressed the company’s significant reduction in personnel. Specifically, according to Mr. Tai, the company had no plans to lay off employees. The decrease was due to the company’s personnel adjustment policy, which included not hiring replacements if not necessary.

“What is the nature of this (staff reduction)? In the past, during the growth phase, when an employee left for some reason, for example, getting married, we would immediately hire a replacement. This was necessary to serve customers.

But, over the past year, we have implemented a policy of not hiring replacements. The decrease in personnel over the past time is because we did not hire replacements and transferred personnel,” emphasized Mr. Tai.

As of the end of June, The Gioi Di Dong was operating 1,015 Thegioididong.com stores (including TopZone), 2,023 Dien May Xanh stores, 2,184 Bach Hoa Xanh stores, 326 An Khang pharmacies, 62 AvaKids stores, and 115 EraBlue stores.

Regarding MWG’s business performance, in Q2 2025, the company’s revenue reached more than VND 37,520 billion, up nearly 10% over the same period and a record high since its operation. On average, the retail ecosystem earned more than VND 412 billion per day during the quarter.

Overall, in the first half of 2025, consolidated net revenue reached VND 73,655 billion, up 12.5% over the same period last year, equivalent to 49% of the full-year revenue plan.