Moody’s is reportedly downsizing in China with the wind-down of its consulting business in the mainland.
Moody’s Analytics is winding down in mainland China, according to a «Reuters» report citing unnamed sources. As part of the wind-down, around 100 employees will be affected across Moody’s offices in Beijing, Shanghai and Shenzhen.
Moody’s Analytics is a consulting business that provides financial intelligence and analytical tools to domestic and foreign financial institutions.
Credit Ratings to Stay
Meanwhile, the New York-headquartered firm will continue to run its credit ratings business in mainland China.
«As announced during our most recent earnings call, Moody’s is taking steps to align our global workforce with current and anticipated economic conditions,» the firm said in a statement.
«Moody’s continues to maintain a strong presence in China and contribute constructively to China’s sustainable growth and the further development of its domestic markets.»
