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Chinese Finance Industry Experiencing Significant Pay Cuts As the country experiences an economic downturn across industries, employees in the Chinese financial sector have taken compensation cuts of as much as 40% in 2023, Bloomberg News reports .

Restructuring was cited for 9,146 job cuts, while cost-cutting accounted for 5,636 planned layoffs.Artificial intelligence (AI) was cited for 4,680 job cuts in February, approximately 10% of total cuts for the month.

-based employers announced 108,435 job cuts in January, an increase of 118% from the 49,795 cuts announced in January 2025 and a 205% increase from the 35,553 announced in December 2025, according to a report released Thursday, Feb. 5 , from global outplacement and executive coaching firm Challenger, Gray & Christmas.

“Employers have been laser-focused on ensuring equal pay for equal work — and there has been significant momentum and progress made by employers performing proactive pay analyses and complying with pay transparency legislation — but it’s not enough.”

The company has cut about 7,000 positions so far this year, chief financial officer Mark Mason said on a conference call with analysts discussing earnings.

Short-term incentive plans, which are typically earned over a one-year period and paid in cash, keep employees laser focused on the near-term goals of the company.

Transgender benefits, for instance, may include covering facial feminization, laser hair removal, skin procedures, access to transgender centers of excellence, or navigation support.