PwC staff told to go on leave amid IPO slump

PricewaterhouseCoopers, one of the Big Four auditors, is asking some of its employees to voluntarily take some of their 2024 annual leave in advance if they don't have any assignments this month, local media HK01 reported.

PwC responded that it is committed to caring for the staff's physical and mental health, without denying the report.

The directive targets employees who are mainly responsible for initial public offerings and auditing and assurance for listed firms, as Hong Kong's new listings and stock market have been lackluster and underperformed its global peers this year.

It is estimated to involve 200 to 300 staff, mainly in positions below the director level.

Last month, PwC told these employees to take all remaining annual leave and accumulated compensation leave for overtime work before the end of the year.

Staff reporter