Deloitte imposes China staff on unpaid leave

by Accountancy Age

11 Jun 2009

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A slowdown in initial public offerings and mergers and acquisitions has forced Deloitte to put some staff in its China practice on unpaid leave, the Financial Times reports.

A hiatus on new floats on the Shanghai exchange since September was the result of a ban imposed on domestic listings by the Chinese Government.

Deloitte employs 8,000 people in China, and has appealed to staff to take unpaid leave each month in order to avoid a round of redundancies.

There are signs that Deloitte is continuing to hire in China, despite its difficulties. And global headcount has increased by three per cent.

Deloitte is experiencing strong growth elsewhere in the Asian region, including in Australia which is on track to achieve double-digit growth this financial year.

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