Stock

McKinsey cuts hundreds of jobs in China business, WSJ reports

(Reuters) – U.S.-based consulting firm McKinsey is revamping its China business after reducing its government-linked clients and cutting about 500 jobs, which is around a third of its China workforce, the Wall Street Journal reported on Wednesday.

The company has been separating the China unit from its global operations to reduce security risks with doing business in the country, the report said, citing people familiar with the matter.

McKinsey has reduced its workforce in Greater China, including Hong Kong and Taiwan, by hundreds of employees over the past two years, the report said. In June 2023, the firm had listed nearly 1,500 employees on the Greater China website, the report added.

McKinsey did not immediately respond to a Reuters request for comment outside regular business hours.

This post appeared first on investing.com

You May Also Like

Editor's Pick

Sen. JD Vance (R-Ohio) and Minnesota Gov. Tim Walz (D) will face off Tuesday night at a CBS News vice-presidential debate in New York....

Latest News

A North Korean defector who escaped to the South more than a decade ago was detained after attempting to cross back into North Korea...

Economy

A U.N. human rights group confirmed Hamas’ leader in Lebanon, who was recently killed by Israeli strikes, was their employee.  Fateh Sherif was killed...

Investing

Astron (ASX:ATR) and Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) have completed the establishment of a joint venture to advance the Australia-based Donald rare earths and mineral sands...

Disclaimer: balanceandcharge.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 balanceandcharge.com

Exit mobile version