Banking Giant Morgan Stanley Cuts Off About 2% of Its Workforce amidst the Layoff Season
According to those with knowledge of the layoffs, Morgan Stanley fired around 2% of its employees on Tuesday (6th December). As per the people, who asked not to be named discussing terminations, the actions had an effect on roughly 1,600 of the company's 81,567 employees and touched almost every area of the international investment bank. The annual purging of underperformers, which was suspended during the Coronavirus pandemic, is being reinstated by Morgan Stanley, rival Goldman Sachs, and other companies including Citigroup and Barclays.
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