HuffPo writes that Morgan Stanley might lay off more workers than the few hundred underperforming financial advisers it previously said were at risk of being fired, according to Fox Business Network. The news network reported on Wednesday that Morgan Stanley could cut "possibly thousands of jobs," citing a source with direct knowledge of the matter. A company spokeswoman dismissed the report.
"We are constantly evaluating the market conditions to ensure we are right sized," Morgan Stanley spokeswoman Mary Claire Delaney wrote in an e-mailed statement. "We have said we currently have no plans for a major (reduction in workforce) other than 300 or so underperforming FAs, and that remains the case."
Banks with big Wall Street trading operations have been scrutinizing their staffing levels to cut costs in a weak trading environment. Morgan Stanley has been building out its fixed-income division in an effort to gain market share that had contracted in the days leading up to the financial crisis...
http://www.huffingtonpost.com/2011/07/14/morgan-stanley-layoffs_n_898066.html
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