Morgan Stanley making modest job cuts globally, CEO says (NYSE:MS) - Seeking Alpha

1 year ago 64

Morgan Stanley (NYSE:MS) is implementing "modest" occupation cuts crossed its planetary operations, CEO James Gorman said in an interrogation astatine a Reuters league Thursday.
Investment banks are keeping a adjacent oculus connected costs arsenic economic uncertainty, higher involvement rates, and marketplace volatility enactment a damper connected deal-making and banal and enslaved issuances. That muted enactment means that banks are collecting little fees done their superior markets and M&A advisory and underwriting businesses.
"Some radical are going to beryllium fto go," helium said, without giving immoderate specifics. "We're making humble cuts each implicit the globe. In astir businesses, that's what you bash aft galore years of growth."
As of Sept. 30, 2022, Morgan Stanley (MS) had 81,567 employees worldwide, up from 78,386 astatine June 30.
In the November Challenger, Gray & Christmas occupation cuts report, the fiscal assemblage has announced 17,571 occupation cuts, up 105% from the aforesaid play successful 2021.