VinFast Slashes Jobs In America As EV Competition Heats Up

Vietnamese electric vehicle automaker VinFast has slashed around 80 jobs in North America, including its US market chief financial officer, at a time when the carmaker is aiming for a US market stock listing. Investors might now question the company’s overall financial health.

Per Bloomberg, CFO Rodney Haynes has departed the company as it aims to restructure its US operations. There were also firings in Canada though the exact number is unknown.

Last month, VinFast announced it was consolidating its US and Canadian operations into a single entity called VinFast North America. Its headquarters will be in Los Angeles, California. Van Anh Nguyen will remain as CEO of the combined operations, and she’s also CEO of VinFast US Manufacturing. VinFast claims the restructuring will help serve customers in this market.