{
  "id": 17559198,
  "title": "Developer of Long Thanh, Vietnam’s largest airport, cuts nearly 1,400 employees in three months",
  "url": "https://urgent.news/2026/11/01/developer-of-long-thanh-vietnams-largest-airport-cuts-nearly-1-400",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-01T07:37:56.000Z",
  "source": {
    "name": "VnExpress Business",
    "slug": "vnexpress-business",
    "url": "https://e.vnexpress.net/news/business/companies/developer-of-long-thanh-vietnam-s-largest-airport-cuts-nearly-1-400-employees-in-three-months-5139349.html"
  },
  "original_language": "en",
  "account": "Long Thanh International Airport's developer, ACV, has announced a significant workforce reduction, cutting nearly 1,400 employees over the past three months, according to the company's latest financial statements. The employee headcount dwindled from over 10,800 at the start of the year to just over 7,110 by the end of September, marking the third consecutive quarter of downsizing. This reduction in staff contributed to a decrease in employee-related expenses. Employee payments totaled more than VND2.63 trillion (US$101.92 million) in the first nine months, a 13% decline compared to the same period last year.\n\nACV's management restructuring played a crucial role in this workforce change. The company's annual report published in April revealed that it now operates under 12 departments and executive management, down from 17. In its corporate governance activities for the current year, ACV's leadership emphasized the importance of continuing to reorganize and streamline its structure.\n\nThe Long Thanh International Airport project, developed by ACV in southern Vietnam, has seen a substantial increase in construction costs for the first phase, reaching nearly VND44.13 trillion by the end of September, a 29% rise from the beginning of the year. The airport is scheduled to commence operations at midnight on December 24, with an anticipated weekly flight schedule of approximately 366 flights, including 322 domestic flights. In the first nine months, ACV generated revenue of more than VND19.22 trillion, which remained roughly unchanged compared to the same period last year. Despite this, the company reported a pre-tax profit of nearly VND10.8 trillion for the period, slightly below its full-year target but still well above expectations.",
  "summary": "Airports Corporation of Vietnam (ACV), which is developing Long Thanh International Airport, cut its workforce by 1,360 in the third quarter, bringing total staff reductions this year to nearly 3,700.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "Vietnam cuts retail electricity price, removes gasoline tax from November 1",
        "url": "https://urgent.news/2026/10/31/vietnam-cuts-retail-electricity-price-removes-gasoline-tax-from",
        "published": "2026-10-31T22:30:13.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}