McKinsey, the US-based consulting firm, is cutting about 500 jobs amid a major revamp of its business in China, according to a report by the Wall Street Journal.
The group has been reducing its government-linked clients and and the job cuts will reduce its workforce in China by about a third, the report said on Wednesday.
The company has been separating its China unit from global operations to reduce security risks with doing business in the country, the report said, citing people familiar with the matter.
McKinsey has reduced its workforce in Greater China, including Hong Kong and Taiwan, by hundreds of employees over the past two years, the report said.
In June 2023, the firm listed nearly 1,500 employees on the Greater China website, the report added.
McKinsey did not immediately respond to a Reuters request for comment outside regular business hours.
- Reuters with additional editing by Jim Pollard
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