(Bloomberg) -- PricewaterhouseCoopers LLP is cutting staff across its China operations, according to people familiar with the matter, after an exodus of...
-- PricewaterhouseCoopers LLP is cutting staff across its China operations, according to people familiar with the matter, after an exodus of corporate clients diminished the accounting firm’s revenue prospects in the country.Microsoft Orders China Staff to Use iPhones for Work and Drop AndroidAt least 100 staffers from different teams at PwC China ’s offices in Beijing, Shanghai and other locations are being let go, the people said, asking not to be identified discussing private matters.
Regulators have been examining PwC’s role in its accounting services for Evergrande, after the developer was accused of inflating its revenue by $78 billion from 2019 to 2020. The China Securities Regulatory Commission had vowed further probes into “intermediary agencies” involved in the case.Authorities are weighing a record fine of at least 1 billion yuan on PwC and could suspend some of its onshore operations, Bloomberg News reported in May.
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