- Staff Kansas City Business Journal
Morgan Stanley plans to lay off 1,600 employees, with half of the cuts will be in the United States, The Wall Street Journal reports.
Most of the cuts will come from the firm's mainstay securities unit. The company is looking to cut senior ranks and will promote fewer employees to managing director than it has since 2009.
The report says Morgan Stanley is taking a look at the compensation to see if it can cut higher-priced employees in favor of lower-compensated workers who can perform the same duties. The latest round of layoffs comes after Morgan Stanley cut 4,200 employees throughout 2012.
Source: http://feedproxy.google.com/~r/vertical_3/~3/9P-aY4YKbMo/morgan-stanley-will-cut-1600-jobs.html
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