Huang Wen, a partner of Ernst & Young, one of the world's Big Four accountancy firms, has told the Chinese media that the company will encourage about 200 of its employees in China to quit their jobs. However Huang has denied that this is a job-cutting exercise.
Huang said that the company had decided to persuade employees who have weaker performance and professional skills to leave after due consideration. Huang stated that about 2% of the staff, from all the 14 branches of Ernst & Young in China, would be affected, and this would include some managerial-level staff.
Huang said that the company would consult with the employees on quitting and compensate them according to China's Labor Contract Law.
Ernst & Young stated that it conducts employee assessments like this in all its global branches every year and China is no exception.
