PwC considers reducing up to 50% of financial services audit staff in China due to Evergrande scandal.

PwC contemplates reducing up to 50% of its financial services audit staff in China due to a regulatory investigation and client exodus linked to the Evergrande scandal. The move also includes considering layoffs of around 20% of staff in other audit teams and non-auditing business lines. PwC's financial services auditing operation in China employs at least 2,000 people across mainland China.

July 16, 2024
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