Morgan Stanley to Cut 3,000 Jobs in Second Quarter.
TL;DR Summary
Morgan Stanley is reportedly preparing to cut 3,000 jobs, with investment bankers and traders expected to be hit hardest. The bank's M&A bankers had a weak Q1, with revenues down 32% YoY. CEO James Gorman said investment banking activity remains "very subdued" and may not recover until 2024. Meanwhile, Barclays CEO C.S. Venkatakrishnan is a fan of being in the office and is often there for 12 hours a day.
- Morning Coffee: So, now Morgan Stanley is cutting 3,000 jobs too. The bank CEO who gets up at 4.30am and works 12 hours in the office eFinancialCareers (US)
- Morgan Stanley Plans 3000 More Job Cuts Bloomberg Television
- Morgan Stanley plans to cut another 3,000 jobs, source says CNN
- Bumper HSBC Results & Job Cuts At Morgan Stanley Bloomberg
- Morgan Stanley to cut 3,000 jobs in second quarter - source Yahoo Finance
Reading Insights
Total Reads
0
Unique Readers
14
Time Saved
4 min
vs 5 min read
Condensed
92%
899 → 70 words
Want the full story? Read the original article
Read on eFinancialCareers (US)