February 2, 2009

Morgan Stanley plans to cut 1,880 jobs

According to Reuters, CNNMoney: “U.S. bank Morgan Stanley plans to cut about 3% to 4% of its work force, or up to 1,880 people, as it battles with spiraling costs and slowing business, according to a person familiar with the matter.”

  • Morgan Stanley had a total of 46,964 employees at the end of November, according to a filing with the U.S. Securities and Exchange Commission.

January 30, 2009

Morgan Stanley, Goldman mull more job cuts

Morgan Stanley (MS.N) and Goldman Sachs (GS.N) are considering further cuts in staff, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Morgan Stanley is considering laying off up to 5 percent of its 47,000 employees, while Goldman Sachs is also contemplating further cuts in staff after letting go about 10 percent of its employees late last year, the paper said.

Source: Reuters

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