EMCC European Monitoring Centre on Change

Morgan Stanley

Company/Organisation:
Morgan Stanley

Geographic Location

Country: World

Company

Sector: Financial services
Financial and insurance activities
64.1 - Monetary intermediation
Number Employed: 62648

Employment Effects

Announcement Date: 14-12-2011
Planned Job Reductions min: 1600
Planned Job Reductions max: 1600
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-01-2012
Foreseen End Date: 31-03-2012
Direct Dismissals: 1600

Additional Information

Morgan Stanley, a global financial service firm, will lay off 1600 employees during the first quarter of 2012. The 1600 jobs will be cut around the globe and across all job levels. A spokesperson of the bank detailed that also management functions will be affected. The cuts represent 2.6% of Morgan Stanley's global workforce.

The company stresses that during 2012 no additional jobs will be cut. However, in a similar year-end evaluation at the end of 2012, Morgan Stanley will re-evaluate its workforce for 2013.

The investment bank reacts on shrinking revenues.