Morningstar Pays $31 Million to Scale Back China Business

Photo: Morningstar

Morningstar Inc. paid $26.3 million in severance payment to employees in China in the third quarter as the financial market research and ratings giant scaled back business in the second-largest economy, it said in the quarterly report.

The U.S.-based company said it would finish slashing its workforce in Shenzhen and relocating jobs to other countries by the third quarter of 2023.

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