Morgan Stanley to cut 1,600 jobs

By Staff | January 9, 2013 | Last updated on January 9, 2013
1 min read

The Financial Times reports Morgan Stanley will cut 1,600 employees from its institutional securities group, a 6% reduction.

“James Gorman, Morgan Stanley chief executive, told the Financial Times in October that there was ‘way too much capacity and compensation is way too high’ in the banking industry,” the report says.

The firm cut 4,000 jobs last year.

Also read:

Morgan Stanley executive leaves amid scandal

Downgrade will severely impact Morgan Stanley

Rogue Morgan Stanley director barred staff


The staff of have been covering news for financial advisors since 1998.