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PwC’s Guangzhou Branch Remains Operational Despite Lay-offs in Audit Department

Jul. 10, 2024  05:12

AsianFin--Global auditing firm PricewaterhouseCoopers (PwC) has denied rumors that its branch in Guangzhou, South China's Guangdong Province, is shutting down. The company clarified that it is optimizing its organizational structure to better align with market needs.

The rumors suggested that "PwC in Guangzhou is being shut down, with all employees leaving within seven days," while the Shenzhen branch continues normal operations.

In response, PwC said that it values its talent and has made significant investments in talent development over the years. The current adjustments are challenging decisions, and the company is ensuring thorough communication with affected employees. PwC also assured that the adjustment plan complies with relevant provisions of China's labor laws.

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