Post by Forever Sunshine on Dec 17, 2011 23:33:20 GMT -5
Morgan Stanley will cut 1,600 employees in the first quarter, the bank said on Thursday, as it trims costs in a difficult period for trading and banking revenue.
The job cuts will come across all staff levels and geographic areas, spokesman Mark Lake said, including investment banking, trading and back-office functions.
Morgan Stanley is one of the last big Wall Street banks to announce major job cuts as analysts have begun slashing fourth-quarter earnings estimates.
www.msnbc.msn.com/id/45683586/ns/business-us_business/#.Tu1sqDXlMuY
The job cuts will come across all staff levels and geographic areas, spokesman Mark Lake said, including investment banking, trading and back-office functions.
Morgan Stanley is one of the last big Wall Street banks to announce major job cuts as analysts have begun slashing fourth-quarter earnings estimates.
www.msnbc.msn.com/id/45683586/ns/business-us_business/#.Tu1sqDXlMuY
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