Morgan Stanley cuts 2,500 jobs — 3% of global – Business News
Morgan Stanley is slashing about 3% of its global workforce — roughly 2,500 jobs — throughout its key divisions, because the Wall Street giant realigns priorities amid a banner yr for earnings, sources accustomed to the matter have informed The Post.
The cuts hit the Ted Pick-led lender’s investment banking, trading, and wealth management models, the people close to the state of affairs stated.
Layoffs started final week, and each Morgan Stanley’s US and worldwide workplaces shall be impacted, they added.
News of the job losses was first the Wall Street Journal reported earlier on Wednesday.
The Ted Pick-led lender, which has round 83,000 staff, posted report income in 2025 after a revival in dealmaking. Morgan Stanley
The bank, which has round 83,000 staff, posted report income in 2025 after a revival in dealmaking, market volatility that boosted the underside line of its trading desks, and spending by rich purchasers.
Its wealth unit, which generates practically half the firm’s income, noticed fourth-quarter income bounce 13%.
Despite the sturdy outcomes, Morgan Stanley has trimmed employees a number of instances lately. This spherical consists of personal bankers and back-office roles in wealth management, some handling shopper mortgages.
The Post has sought remark from a bank spokesperson.
Wall Street friends like Goldman Sachs and JPMorgan Chase have additionally shed jobs amid effectivity drives, together with AI adoption.
Block CEO Jack Dorsey stated that he would layoff half of his workforce owing to AI features. AP
Big companies axed hundreds of white-collar positions final yr, usually citing tech features. Twitter founder Jack Dorsey introduced earlier this week that his new enterprise, Block, would shed 4,000 jobs, which is equal to half of its workforce.
The strikes underscore how even high performers are pruning prices in a risky economic system.
