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
Three former Tesco executives, including the former finance director of Tesco UK, have been charged with fraud by the Serious Fraud Office in relation to a £263m accounting scandal at the retailer.
Deloitte chief executive David Sproul is among 11 chief executives to take part in global executive search firm Odgers Berndtson’s CEO for a Day scheme
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal