Morgan Stanley lays off nearly 1,600 employees

American financier Morgan Stanley On Tuesday, 2% of the worldwide workforce laid off about 1,600 workers, economy channel CNBC reported on Tuesday.

CEO, James Gorman He warned last week that he would make a “modest” cut in the workforce “after many years of growth”, especially after the pandemic was declared in 2020.

Specializing in investment and operations consultancy, the financier was one of the most beneficiaries of this campaign. mergers and acquisitions boom It’s already slowed down.

According to the economic channel, Morgan Stanley has restarted common practice in banking getting rid of the lowest performing employees before paying annual “bonuses”.

In addition to some of the major US banks facing this year “bonuses“Collect custom media up to 30% lower due to slowdown in the market that negatively impacted their revenue.

Given the dire economic situation and high interest rate environment, numerous companies have announced layoffs in recent weeks, particularly in the tech sector, which is cumbersome.

Source: Informacion

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