Learnt from a Q Shanghai colleague, Shanghai is classified as a high cost area and a heavy cut is planned. Initially, we thought a high cost area meant Bay area or NYC, but it seems this time the bar is set surprisingly low.
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Shanghai is a huge, modern city and very expensive. Nothing in India is on par with it at all.
China offices are taking big cuts because the market there is drying up. No need to carry big headcount if there is no market to offset the cost. China is very expensive.