China’s Largest Audit Firm PwC Faces Mass Layoffs, Client Cancellations, and a 70% Revenue Drop
China’s Largest Audit Firm PwC Faces Mass Layoffs, Client Cancellations, and a 70% Revenue Drop
Udumbara
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Following the financial fraud scandal involving Evergrande, PriceWaterhouse Coopers, PwC, is reportedly facing a wave of contract terminations from multiple companies in China. Chinese media reports say this could cost PwC around 561 million yuan in audit revenue, cutting its income by two-thirds compared to last year.
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