Moody’s Risk-Management Unit Shutters China Operations, Cuts Staff, Sources Say

(Bloomberg) — Moody’s Corp. has shuttered the China operations of its risk management division, laying off about 100 people, according to people familiar with the matter.

Moody’s Analytics closed its offices in Beijing, Shanghai and Shenzhen following discussions about operating efficiency and profitability, the people said, requesting not to be named because the matter is private. Moody’s credit ratings business will continue, they said.