Morgan Stanley Cutting 1,600 Jobs
Morgan Stanley is to cut 1,600 jobs in one of its most prominent businesses in the latest example of a Wall Street investment bank axing staff to reduce expenses.
The job cuts amount to about 6 per cent of the total headcount in the bank’s institutional securities group, which helps companies complete big mergers and acquisitions and also trades bonds and stocks on behalf of clients.
Source: Financial Times. Read full article. (link)
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