Layoff Wave | Morgan Stanley Reportedly to Cut 3% of Staff in Investment Banking, Trading, and Asset Management Businesses

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Morgan Stanley (U.S.: MS) reportedly plans to lay off about 3% of its global workforce, involving employees in investment banking, trading, wealth management, and asset management businesses. With approximately 83,000 employees, this round of layoffs will affect nearly 2,500 people.

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According to sources familiar with the matter, Morgan Stanley’s layoffs involve both front-office and back-office employees. The layoffs are related to individual performance and also reflect adjustments in business focus and office location strategies.

Morgan Stanley achieved record net profit over the past year and has increased CEO Ted Pick’s compensation by 32%.

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