Dragging by unfavorable factors such as China's economic downturn and the downturn in China ’s business transactions, SKADDEN (SKADDEN, ARPS, Slate, Meagher FLP and AFFFILIATES), a well -known American law firm, will close the Shanghai office and reduce ChinaSome employees.
The company headquartered in New York issued a statement last Friday (October 18) stating: "The changes in market dynamics have prompted us to decide to start to reduce the business in Shanghai and re -adjust our enterprise scale in China in China"
Bloomberg Monday (21st) quoted people familiar with the matter that the company had merged its Shanghai business with the Beijing department, and some lawyers also got the opportunity to mobilize.
Senda is the latest foreign company that has reduced its business in China in the past few years.Due to the damage to the capital market and private enterprises, multinational companies have been striving to increase their income in China.
Insiders disclosed in March this year that Global Asset Management Giant Fidelity International (Fidelity International) planned to lay off about 20 people in China earlier this year.Other companies that evacuate Chinese business include Vanguard Group Group (Vanguard Group), asset management company VAN ECK Associates, and Matthews International Capital Management registered in the United States.
