A well-placed source tells us that Morgan Stanley is in the process of axing 750-1000 employees in a global workforce cut today.
Based on a Reuters report out of Tokyo, it seems the firings began there (hazard of running a global operation). We suspect they will now follow the sun around the world.
Quote from a Morgan Stanley spokesperson in Tokyo:
“The firm is engaged in an ongoing process of assessing its personnel needs in light of overall market conditions, business priorities and individual performance.”
A recruiter put it more graphically:
“They were marching people out the door today.”
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