Morgan Stanley Will Cut About 2,000 Jobs Ahead of Potential US Recession

#Lifestyle Wealth

Find Related Resource Information

(Bloomberg) — Morgan Stanley will reduce its global workforce by about 2% as Wall Street seeks to tame costs ahead of a potential US recession.

The cuts amount to roughly 1,600 of the workforce, according to a person familiar with the matter who asked not to be identified discussing private information. Morgan Stanley had more than 80,000 employees at the end of the third quarter.

“You’ve got to take into account the rate of growth we’ve had in the last few years,” Morgan Stanley Chief Executive Officer James Gorman said as the bank reported earnings in October. “We’ve learned some things during Covid about how we can operate more efficiently. So that’s something the management team is working on between now and the end of the year.”

Goldman Sachs Group Inc. and Bank of America Corp. executives warned of hiring slowdowns on Tuesday, citing the uncertain economic outlook. Goldman Chief Executive Officer David Solomon said smaller bonuses and even potential layoffs should come as no surprise amid a deal slump while Bank of America CEO Brian Moynihan said the lender is slowing hiring as fewer employees leave, in an attempt to manage headcount. 

CNBC earlier reported the Morgan Stanley reductions. 


To Find More Information, Go To Saubio Digital And Look Up Any Topic

Please follow and like us: Share This Post

Take a look at our comprehensive guide to the best and most popular information ebooks and products available today on Detoxing, Colon Cleansing, Weight Loss and Dating and Romance. They are all in one spot, easy to find and compere to make a quick selection for the product that best fits your needs or wants.

So browse through a category and make your  preferred selection and come back here to read  more choice articles and get a few more helpful tips on ways to help your enhancement.

Detoxing Reviews

Best Body Detoxification Guides & reviews

Colon Cleanse Reviews

Best Colon Cleanse Guides & Reviews

Weight Loss Ebook Reviews

Weight loss products really work! Click here

Dating and Romance Ebook Reviews

Looking for Dating Guides? Click here

Free Traffic System - Increase Targeted Website Traffic with Free Unlimited One Way Links

As an Amazon Associate I earn from qualifying purchases. “ is a participant in third party affiliate and advertising programs; The Amazon Services LLC Associates Program, Awin network, and other affiliate advertising programs are designed to provide a means for sites to earn advertising fees and commissions by advertising and linking to products on other sites and on Amazon and the Amazon logo are trademarks of, Inc, or its affiliates.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Saubio's Promo Tools