China accountants floundering in job market

Manchester News.Net
Wednesday 3rd December, 2008

Many accounting firms in China have cut jobs for the first time in many years.

Ernst & Young has laid off 50 to 100 auditors at its Beijing office.

Back in November, KPMG asked a group of about 70 to 100 professionals to resign voluntarily.

The other two international firms, PriceWaterhouseCoopers and Deloitte, have asked many of their staff to take any available leave.

While the big four accounting firms have raised their attrition levels, they have all said they have no plans to reduce the hiring of university graduates.

Human resources managers in China have said next year will be difficult in the financial sector for job seekers.

The auto, finance and construction industries will be particularly hard hit.

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