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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular

More from author

Who is Matt Doherty, the Tottenham right-back who plans to sign Atlético de Madrid

The Irishman is the option that Atlético de Madrid manages to get on this January marketMatt Doherty, Tottenham's Irish right back, is the first...

Malcolm’s manager explains why player’s transfer to PSG failed

Zenit striker Malcolm's manager Luis Fernando Garcia explained why the transfer of the Brazilian football player to Paris Saint-Germain failed. "Sport Express".Why didn't the...

The head of Transbaikalia Osipov announced the payments for the destruction of foreign tanks in Ukraine 19:20

The Governor of the Trans-Baikal Territory Alexander Osipov decided to determine payments for the destruction of foreign tanks Leopard 2 and Abrams, which will...