Morgan Stanley to Layoff 1600 – Analyst Blog

In light of the continuing Eurozone crisis and in order to reduce costs for the upcoming year, Morgan Stanley has announced plans to lay off 1,600 workers in the first three months of 2012. With the exception of financial advisors for Morgan Stanley Smith Barney, the elimination plans will hit all divisions at all levels. This makes Morgan Stanley only the most recent U.S. bank to make such significant cutbacks in the recent year (following Citigroup, Bank of America, and Goldman Sachs Group).

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Morgan Stanley to Layoff 1600 – Analyst Blog