Hit by client exits, PwC to slash China partners' pay by up to 50%

Hit by client exits, PwC to slash China partners' pay by up to 50%

FILE PHOTO: The logo of accounting firm PricewaterhouseCoopers (PwC) is seen on the top of a Brussels' office of the company, in Diegem, Belgium September 21, 2023. REUTERS/Yves Herman/File Photo

PricewaterhouseCoopers (PwC) has asked its China-based partners to take a pay cut of up to 50%, two people with knowledge of the matter said, as a regulatory probe into the firm and departure of some of its corporate clients prompt cost cuts and layoffs.