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Morgan Stanley Planning Layoffs of 2,000 Employees, Report Says
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Key Points
- Morgan Stanley plans to lay off about 2,000 jobs Bloomberg Report Tuesday.
- According to the report, the cuts will be primarily performance-based and location-based, and are carried out across departments.
- The layoffs will affect 2.5% of the bank’s nearly 80,500 employees as of its latest earnings report.
Morgan Stanley (Multiple sclerosisAccording to Tuesday Bloomberg Report.
Quoting someone familiar with this Bloomberg The bank is reportedly seeking to cut costs with low employee turnover. The bank is also processing Recent market turmoil With uncertainty brought about by the Trump administration’s planned tariffs.
The cuts will be done in different areas of the company (except its 15,000 financial advisors). Bloomberg. Morgan Stanley said in its latest earnings report that the company has less than 80,500 employees, bringing about 2.5% of the bank’s workforce layoffs.
Bloomberg The report said that in the current market uncertainty, it seems that new stock sales, mergers and acquisitions deals are “certainly suspended,” Dan Simkowitz, co-president of Morgan Stanley, said at a meeting on Tuesday.
Some jobs will be performance-based, while others will be based on location within the bank or new automation and AI efforts Bloomberg.
Morgan Stanley did not immediately respond to a request for comment. The bank’s shares rose about 34% in the past 12 months in the last 12 months.
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