CTCP Investment The Gioi Di Dong (MWG) has changed its CEO, with Vu Dang Linh succeeding Tran Huy Thanh Tung as of April 3. Tung, one of the five founders, served as CEO for over three years but recently resigned. During his tenure, the company experienced significant business fluctuations. In 2022, revenue dropped slightly while profit decreased by 16%. By 2023, net profit plummeted by 96% to VND 168 billion, with an 11% revenue decline. However, in 2024, signs of recovery emerged with net profit reaching VND 3.733 trillion. The company has cut 10,876 employees over two years, leaving 63,132 staff members. Chairman Nguyen Duc Tai stated that the cuts aim to focus on work efficiency. Alongside workforce reductions, The Gioi Di Dong also narrowed its number of stores, significantly decreasing in various chains. Despite challenges, some chains continued to see revenue growth.
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