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Morgan Stanley: Plans 1,500 job cuts

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

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