Significant Staff Turnover
Financial reports from multiple banks indicate significant staff turnover in the first half of the year, with a continuing trend of headcount reduction at some institutions.
For the first six months, VIB reduced its staff by 1,186 employees (nearly 500 last year). Sacombank also cut 1,158 jobs in 2025, following a reduction of 354 in 2024.
Meanwhile, ACB decreased its headcount by 607, leaving 12,240 employees, and ABBank reduced its staff by 469, resulting in a total of 3,240 employees. Agribank witnessed a decrease of 273 people, maintaining a headcount of 40,691.
Banks are taking a proactive approach in downsizing their workforce. Image: VPBank.
Conversely, several banks have significantly increased their staff compared to last year. According to VPBank’s standalone Q2 financial report, as of June 30, the total number of employees at VPBank’s parent company was 15,680, an increase of 677 from the end of last year (a 4.5% rise).
As of June 30, Techcombank recorded 11,306 employees, a nearly 8.1% increase compared to the same period last year. PGBank also noted a slight increase in staff (up by 127) compared to the previous year.
Banks Seek Tech-Savvy Talent
Mr. Luu Danh Duc, Deputy General Director of LPBank, attributed the bank’s significant headcount reduction in the first half of the year to the reorganization and streamlining of its structure from 18 blocks to 8 blocks. According to Mr. Duc, the expectations and investments of bank owners are substantial, but recruiting tech-savvy talent is challenging. The market lacks workers with both advanced technology skills and a strong understanding of the financial and banking sector.
A representative from VPBank shared: “Previously, technology was a separate group that provided support with computer setup and repairs. Now, technological proficiency is a skill that all personnel must possess.”
Over the last five years, VPBank has undergone a significant transformation in how it utilizes and develops technologically proficient human resources. While previous recruitment focused on industry experience, the bank now mandates digital proficiency alongside specialized expertise. As a result, one digitally adept individual can handle a larger workload, eliminating the need for ten people.
“Besides organizational changes, VPBank has diversified its recruitment sources, moving beyond traditional financial and banking institutions. Young talents familiar with AI, social media, and digital skills are given opportunities to rejuvenate the bank’s operations and bring in fresh perspectives,” the representative added.
Ms. Ngo Lan, Director of Navigos Search in the North, noted that banks are making profits but still laying off many employees due to the impact of technology. Artificial intelligence (AI) can now replace various tasks performed by bank staff. Consequently, while banks aim to reduce staff performing manual and simple tasks, they simultaneously seek to increase recruitment in specific areas, particularly technology and sales. However, talent in these fields is scarce.
Ms. Lan further shared that banks have recruited students from universities like FPT University and Hanoi University of Science and Technology, as well as foreign universities. However, these technology specialists often lack business knowledge.
Assoc. Prof. Dr. Pham Thi Hoang Anh, Deputy Director of the Banking Academy, emphasized: “The demand for digital talent in the banking sector is surging, but the supply falls short. Banks lack human resources with both deep expertise in banking and a strong command of information technology. This talent pool is crucial in determining the competitive edge of banks.”
