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on august 30, a piece of news circulated online by cicc, "many people at cicc have received emails with demotions and salary cuts. if they do not sign to accept them, subsequent work will be carried out according to the company's unified arrangements," attracted market attention.

a reporter from the first financial daily learned from an informed source that this was indeed the case. "the relevant assessment was conducted a few months ago. this time, employees are required to sign to confirm that they accept the demotion and accept salary adjustments based on the corresponding rank. if they do not accept the relevant arrangements, they can choose to resign on their own. if they do not resign or sign, the company will continue to push forward the process to uniformly arrange demotion and salary reduction." said the above-mentioned informed source.

in may this year, china business news learned from industry insiders that cicc plans to cut salaries and layoffs in the coming period, with an estimated salary cut of 25% and layoffs of about one-third of investment banking employees.

in the first half of the year, cicc has reduced its staff by 246, both in mainland china and overseas. according to the 2024 semi-annual report disclosed by cicc on the 30th, as of june 30, the number of employees of cicc group has decreased from 15,327 at the end of 2023 to 15,081, with 13,967 employees in mainland china and 1,114 employees in hong kong, singapore, the united states, the united kingdom and germany. among them, the number of employees in mainland china has decreased by 221, and the number of employees overseas has decreased by 25.

according to ifind data from tonghuashun, the number of employees of 14 large securities firms with assets exceeding 200 billion yuan decreased by a total of 5,735 in the first half of the year. among them, founder securities had the largest reduction in staff, with a reduction of 1,381 people. in addition, many securities firms including citic securities, citic construction investment securities, guosen securities, and gf securities all reduced their staff by more than 500 people in the first half of the year.