James Gorman, chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 24, 2019.
Simon Dawson | Bloomberg | Getty Images
Morgan Stanley cut about 2% of its global staff on Tuesday, according to people with knowledge of the layoffs.
The moves impacted about 1,600 of the company’s 81,567 employees and touched nearly every corner of the global investment bank, said the people, who declined to be identified speaking about terminations.
Morgan Stanley is following rival Goldman Sachs and other firms in reinstating a Wall Street ritual that had been put on hold during the pandemic: the annual culling.
This story is developing. Please check back for updates.
Source: https://www.cnbc.com/2022/12/06/morgan-stanley-cut-about-2percent-of-staff-tuesday-sources-say-.html