Vinasun’s payroll increased by 10% last year, the first time since 2016 hires outnumbered layoffs.
The leading taxi operator said it had 2,013 employees at the end of last year, 136 more than at the beginning of the year.
General director Ta Long Hy said the figures do not fully reflect its recovery and expansion level because drivers who sign franchising contracts with the company are not counted as full-time employees.
“In fact, between April and year-end last year, we recruited around 2,700 drivers,” he said.
In 2016 Vinasun had the largest market share and payroll – 17,200 – in the taxi industry.
A year later, when it switched to a franchising model and was affected by the boom in ride-hailing apps, the number fell to 7,100. Since then the number of employees kept decreasing.
Hy said last year Vinasun adopted many new policies to attract drivers, bought 550 new cars, and launched a luxury service.
“All of our taxis operated in the last two quarters of last year, while a year earlier half of them remained parked.”
Last year, Vinasun earned revenues of VND1.1 trillion (US$46.6 million), double the 2021 figure and back to pre-pandemic levels, and pre-tax profits of VND187 billion.
In 2021, it had incurred losses of VND277 billion.
The Vinasun share has gained 35% since mid-November last year.