FLC reduces its workforce by 60% during restructuring.

On February 20th, the second extraordinary general meeting of shareholders of FLC Group Joint Stock Company (stock code FLC) was successfully held with the participation of 103 shareholders, representing over 33.7% of the voting shares. The shareholders approved the dismissal and election of additional members of the Board of Directors. The new Board of Directors of FLC after the meeting consists of 5 members: Mr. Le Ba Nguyen - Chairman of the Board, Ms. Vu Dang Hai Yen - Standing Vice Chairman, and members Ms. Tran Thi Huong, Mr. Le Tien Dung, and Mr. Ngo Dang Hoang Anh.

FLC successfully held its second extraordinary general meeting of shareholders in 2024.

FLC leaders stated that the years 2022-2023 were an extremely difficult and challenging period for the group. This was the time after Mr. Trinh Van Quyet - the former Chairman of FLC - was arrested for stock market manipulation.

Currently, the company's total assets are estimated at over 21,000 billion VND, with quality and value maintained. FLC is also exploring and researching numerous projects in over 20 provinces and cities, including several key projects. It has contributed approximately 800 billion VND to the state budget and fulfilled its debt obligations of 4,400 billion VND.

The restructuring process also streamlined FLC's workforce, reducing its permanent staff by 60%. FLC stated that this aimed to balance the organizational structure and stabilize income for thousands of employees, with total salaries and bonuses in 2023 exceeding 300 billion VND. The group merged 50% of its departments, established a new Business and Strategy Department, and an Information Technology Department. The system of member companies and affiliated companies includes 14 subsidiaries (owning between 50% and 100% of charter capital) and 1 affiliated company.

In the real estate sector, FLC announced that it has restarted construction on projects such as FLC Premier Parc, C4C5 Thanh Hoa , FLC Sam Son, and FLC Tropical. Construction costs exceeded 500 billion VND; 889 units are under construction, with 831 units currently under construction.

In 2024, FLC will continue to accelerate restructuring and reshape its core business areas with three main pillars: real estate business, resort business, and M&A projects to restructure loans and maintain business operations. For example, the plan for 2024 for the real estate business segment is to achieve sales of VND 1,187.2 billion; the resort and tourism business segment is to achieve VND 1,213 billion...

Source link: https://thanhnien.vn/flc-giam-60-nhan-su-trong-qua-trinh-tai-cau-truc-185240220174729464.htm