Morgan Stanley: Wall Street bank, plans 1,500 job cuts
- The bank will be losing around 2% of its workforce in the cuts
- It will occur mainly in the firm’s operations and technology departments
- The sales trading and research departments will also feel the effects
- The bank will be taking a charge of between $150m and $200m in Q4 2019 as result of the cuts
- The bank fined €22.1 million this week by French regulators for using “pump and dump” tactics to manipulate bond prices
- It has offices in the US, Canada, UK, Europe and also Australia
