Is there more than just a bloodbath going on at Morgan Stanely?
Fox Business Network’s senior correspondent Charlie Gasparino is reporting that the New York-based investment banking is bracing for more layoffs. A lot more.
From Fox Business:
With that, senior executives at Morgan Stanley are spreading the word inside the firm that the job cuts may not be over and that by June job losses could total as much as 5,000, including those already made, said one person with direct knowledge of the matter. Before the latest round of cuts, Morgan Stanley employed approximately 60,000 people.
Last month, the bank revealed plans to reduce its headcount by 1,600 in the first quarter of 2012.
Meanwhile, bonus cash payouts at Morgan Stanley will be capped at $125,000 this year, according to a report in the Wall Street Journal.
Shares of Morgan Stanley were last slightly lower in morning trading Tuesday.