Morgan Stanley is set to lay off approximately 2,000 employees later this month, representing roughly 2% to 3% of its global workforce—excluding financial advisers—in an effort to improve operational efficiency, according to a person familiar with the matter.
he decision, reported by Reuters and first noted by Bloomberg News, comes as part of a broader trend among Wall Street banks, which have been reducing headcount amid an uncertain economic environment exacerbated by President Donald Trump’s recently announced tariffs against key trading partners.
At the end of 2024, Morgan Stanley employed over 80,000 people worldwide. The planned job cuts are said to be driven primarily by performance considerations and the reorganization of work locations, rather than direct impacts from current market conditions.
This move follows similar cost-cutting measures across the industry. Rival Goldman Sachs has accelerated its annual performance reviews and aims to trim its workforce by 3% to 5%, while Bank of America recently eliminated 150 junior banker roles within its investment banking division.
At a recent conference, Morgan Stanley Co-President Daniel Simkowitz acknowledged that new equity issues and merger and acquisition activity have been subdued due to policy uncertainties. However, he also noted that the firm is adding "real headcount" at senior levels within its investment banking arm, suggesting that while the bank is streamlining certain areas, it remains focused on strategic growth.
As clients continue to navigate the impact of evolving tariff policies and other market uncertainties, industry observers say that the layoffs reflect a cautious approach by financial institutions adjusting to the current economic climate.
Israeli airstrikes on southern Lebanon killed two people in the past 12 hours, Lebanon’s Health Ministry said on Tuesday....
The Prime Minister, Mark Carney, announced on 16 February that the Honourable Janice Charette has been appointed as the next Chief Trade Negotiator to...
Cuba’s fuel crisis has turned into a waste crisis, with garbage piling up on most street corners in Havana as many collection trucks lack enough pet...
Jordan’s King Abdullah II warned on Monday that what he described as “illegal” Israeli measures in the occupied West Bank risk undermining de-es...
Robert Duvall, the Oscar-winning actor renowned for his steely intensity and commanding performances in films including The Godfather and Apocalypse N...
Israeli airstrikes on southern Lebanon killed two people in the past 12 hours, Lebanon’s Health Ministry said on Tuesday.
The Prime Minister, Mark Carney, announced on 16 February that the Honourable Janice Charette has been appointed as the next Chief Trade Negotiator to the United States.
Cuba’s fuel crisis has turned into a waste crisis, with garbage piling up on most street corners in Havana as many collection trucks lack enough petrol to operate.
Jordan’s King Abdullah II warned on Monday that what he described as “illegal” Israeli measures in the occupied West Bank risk undermining de-escalation efforts and inflaming regional tensions.
U.S. Ambassador to NATO Matthew Whitaker said China has the power to bring an end to Russia’s war in Ukraine, arguing that Beijing is enabling Moscow’s military campaign.
Austria’s Janine Flock won the gold medal in the women’s skeleton event at the Milano-Cortina 2026 Winter Olympics on Saturday.
Iran’s Supreme National Security Council Secretary Ali Larijani said the United States could evaluate its own interests separately from those of Israel in ongoing negotiations between Tehran and Washington.
U.S. Secretary of State Marco Rubio on Sunday (15 February) called it “troubling” a report by five European allies blaming Russia for killing late Kremlin critic Alexei Navalny using a toxin from poison dart frogs.
Israel’s National Guard is preparing to deploy drones capable of firing tear gas at Palestinians in the occupied West Bank, including East Jerusalem, as part of security preparations ahead of the Muslim holy month of Ramadan, Israeli Channel 12 reported on Saturday.
Millions of Colombian roses have arrived in the United States just in time for Valentine’s Day, keeping the country on track as the world’s second-largest flower exporter. Between 15 January and 9 February, Colombia shipped roughly 65,000 tons of fresh-cut blooms.
Russia’s car market is continuing to receive tens of thousands of foreign-brand vehicles via China despite sanctions imposed after Moscow’s full-scale invasion of Ukraine in 2022, a journalistic investigation has found.
Türkiye’s national energy company, TPAO, has struck a new cooperation deal with U.S. energy giant Chevron, signing a memorandum of understanding to explore joint oil and gas exploration and production opportunities, the Turkish Energy and Natural Resources Ministry announced on Thursday.
Wall Street ended sharply lower on Tuesday as investors worried about artificial intelligence (AI) creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week.
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a decision that had been widely expected and largely priced in.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment