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.
President Trump has issued a warning to the international community, claiming a nuclear-armed Iran would strike Israel "very quickly&quo...
Tourism across Central Asia is expanding rapidly, with millions of visitors arriving each year as the region becomes an increasingly competitive gl...
Malian authorities have launched an investigation into suspected soldiers accused of involvement in coordinated attacks on military bases carried o...
Ukraine is monitoring “unusual activity” along its border with Belarus, President Volodymyr Zelenskyy said in a video statement release...
Baku will host the 13th World Urban Forum (WUF13) from 17 to 22 May, bringing together around 25,000 participants from 176 countries to address the...
President Trump has issued a warning to the international community, claiming a nuclear-armed Iran would strike Israel "very quickly" before targeting Europe and the United States.
Tourism across Central Asia is expanding rapidly, with millions of visitors arriving each year as the region becomes an increasingly competitive global travel destination, though growth rates vary significantly between countries.
Malian authorities have launched an investigation into suspected soldiers accused of involvement in coordinated attacks on military bases carried out by militants linked to al Qaeda and separatist Tuareg rebels on 25 April 2026.
Ukraine is monitoring “unusual activity” along its border with Belarus, President Volodymyr Zelenskyy said in a video statement released on Saturday (2 May). He warned that Kyiv is ready to respond if necessary amid continued regional tensions linked to Russia’s war.
Minval Politika has released further footage it says shows former International Criminal Court Chief Prosecutor Luis Moreno Ocampo discussing alleged funding behind campaigns linked to Armenia and Azerbaijan.
Iran’s Supreme Leader Mojtaba Khamenei warned “foreigners who commit evil” have no place in the Gulf, outlining a “new phase” for the Strait of Hormuz, while a senior adviser said U.S. blockade efforts would fail and could trigger confrontation.
U.S. President Donald Trump told reporters he was "not satisfied" with Iran's latest peace proposal, which was delivered to Washington via Pakistani mediators on Friday (1 May).
Dubai chef Shaw Lash at Mexican restaurant Lila Molino flies in her avocados and tomatillos, small, tart green fruits native to Central America that are a staple of Mexican cuisine and key for her colourful and spicy dishes.
President Trump has issued a warning to the international community, claiming a nuclear-armed Iran would strike Israel "very quickly" before targeting Europe and the United States.
U.S. President Donald Trump has said he will raise tariffs on cars and trucks imported from the European Union to 25% next week, up from the 15% level agreed last year, accusing the bloc of failing to comply with its trade commitments.
The decision by the United Arab Emirates to leave OPEC+ on 1 May has put renewed focus on one of the most influential groups in global energy - and how its decisions can shape oil prices worldwide.
The United Arab Emirates has said it's quitting OPEC from 1 May, dealing a major blow to the oil producers’ group and its de facto leader, Saudi Arabia, amid disruption caused by the Iran war.
As the Iran war disrupts global flows of oil and gas and energy prices skyrocket, the Drin River, which descends through the mountains of northern Albania, is acting as a kind of shield.
China has ordered Meta to unwind its more than $2 billion acquisition of artificial intelligence start-up Manus, marking a major escalation in Beijing’s scrutiny of foreign investment in sensitive technology sectors. The order was issued on Monday by the National Development and Reform Commission.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment