Thursday April 9, 2020

Morgan Stanley to cut 1,200 jobs worldwide

The company will take a severance charge of $150 million

9th December, 2015
Morgan Stanley plans to cut 1,200 jobs worldwide

Morgan Stanley will take a severance charge of about $150 million in the fourth quarter as the company pares back its fixed-income trading business to improve profitability.

The charge will cover the cost of cutting 1,200 workers worldwide, including about 470 traders and salespeople in its fixed-income and commodities business, according to a person briefed on the matter. That amounts to 25 per cent of Morgan Stanley’s fixed-income trading staff, with other reductions coming in infrastructure...

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