Sunday, June 08, 2025 | 03:31 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Morningstar cuts hundreds of jobs in Shenzhen amid China restructuring

Several hundred people among its 1,000-strong workforce in the southern technology hub have been affected, the Chicago-based financial services company said on Wednesday

China, China economy, Economy
premium

The roles will be moved to other offices including in Mumbai, Madrid, Toronto and Chicago, with Chinese operations to now focus solely on the domestic market, a company representative said.

Shirley Zhao and Lulu Yilun Chen | Bloomberg
Morningstar Inc. is slashing a significant portion of its workforce in Shenzhen and relocating jobs to other countries as part of a restructuring exercise in China, a retreat that reflects a growing global ambivalence over doing business in the world’s second largest economy. 

Several hundred people among its 1,000-strong workforce in the southern technology hub have been affected, the Chicago-based financial services company said on Wednesday. 

The roles will be moved to other offices including in Mumbai, Madrid, Toronto and Chicago, with Chinese operations to now focus solely on the domestic market, a company representative said.

The operations to be relocated elsewhere mainly