" Beximco Group lays off 40,000 garment factory workers in Bangladesh ", 23 December 2024

local reports Bangladesh-based Beximco Group cited a lack of work orders for its export-oriented garment and textile factories in Dhaka’s outskirts of Gazipur.

Beximco employs a total of 70,000 workers in its Bangladesh factories, making the layoff of over 40,000 workers equivalent to more than 57 percent of its workforce.

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The notices said that laid-off workers were not required to report to the factories as all production activities would be suspended until a tentative reopening date of 30 January 2025.

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The notifications also reported employee salaries for the 45-day layoff period would be in line with the country’s labour law which stipulates half of the basic payment for workers and some other benefits.

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Speaking to The Daily Star, Osman Kaiser Chowdhury, director of Beximco Group’s Finance and Corporate Affairs Division, said the factories were unable to open new letters of credit for raw material imports so could not continue operations.

Beximco Group could not be reached for comment at time of press.