Airports Corporation of Vietnam cut its workforce by 1,360 people in the third quarter, bringing total staff reductions this year to nearly 3,700. Financial statements show employee numbers dropped from over 10,800 at the start of the year to just over 7,110 at the end of September.

Personnel payments totaled more than VND2.63 trillion (US$101.92 million) in the first nine months, down roughly 13 percent compared to the same period last year. The reduction marked a third consecutive quarter of payroll contraction, helping to lower operating expenses.

The developer of Long Thanh International Airport restructured management earlier this year. An annual report published in April detailed that the company now maintains 12 departments under its board of directors and executive management, down from 17.

Management streamlining drove the bulk of the payroll reduction. In its annual corporate governance disclosures published in April, the state operator confirmed it collapsed its operational structure from 17 administrative departments down to 12 under the executive board. Leadership placed structural reorganization at the top of its governance priorities for the current fiscal cycle.

The administrative overhaul reduced fixed corporate overhead during a heavy infrastructure capital expenditure cycle. The group kept nine-month revenue steady at more than VND19.22 trillion, matching its performance from the prior-year period. Pre-tax profit came in at nearly VND10.8 trillion, slipping marginally from a year earlier yet surpassing the company’s full-year profit target ahead of schedule.

Capital deployed into the southern transport corridor continues to climb rapidly. 13 trillion by the end of September, rising 29 percent from the start of the year.

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