VinFast cuts jobs in North America, including its U.S. CFO
Streamlining move comes before the company has even delivered a vehicle in the U.S.Electric-vehicle maker VinFast has cut about 80 jobs in North America, including its U.S. chief financial officer, raising questions about the health of the Vietnamese company ahead of a possible stock listing — and before it has even begun delivering cars to U.S. buyers.
Rodney Haynes, finance chief of VinFast U.S., has left amid a restructuring of the business, according to people familiar with the situation. There were also layoffs in Canada, the people said, asking not to be identified as the matter wasn’t public. VinFast, part of Vietnam’s biggest conglomerate and backed by the country’s richest person, said late last month it was consolidating its U.S. and Canadian strategic business and management operations into a single unit called VinFast North America, headquartered in Los Angeles. Van Anh Nguyen was named chief executive officer of the new entity, while maintaining her role as CEO of VinFast U.S. Manufacturing, the company said.
VinFast U.S. CEO Giang Nguyen has been reassigned to be deputy CEO of VinFast North America, according to the people. In response to questions from Bloomberg News, Vinfast said the restructuring was aimed at better serving customers in the region, and that it has been working with local service providers to improve efficiency. “This also leads to the streamlining of our North American operations and there are certain departments affected by this,” the EV maker said in an email. VinFast has grand ambitions in the US, the first country beyond Vietnam that it is targeting with its EVs.
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