PwC Weighs Halving of China Financial Services Audit Staff: Rtrs

PwC is considering cutting as much as half its financial services auditing staff in China, Reuters reports, citing two people with knowledge of the matter.

• PwC’s financial services auditing operation employs at least 2,000 people across mainland China
• The firm is also mulling laying off about 20% of the staff in other auditing teams and non-auditing business lines
• A PwC spokesperson tells Reuters in an emailed statement the firm is making some adjustments “to better optimize our organizational structure to align with market demand”
• NOTE: PwC Starts Mass China Layoffs After Losing Dozens of Clients (1)

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