Morgan Stanley will sharply cut back on its hiring in the second half of the year, and those positions that are filled will be reserved for key posts, sources told myfoxny. While the Wall Street heavyweight has no current plans for layoffs, it does continue to monitor its headcount as the economic recovery show signs of petering out.
The firm is studying various layoff scenarios if Wall Street business conditions do not improve.A firm spokesman said Morgan Stanley has no plans for major layoffs yet, though it will only fill positions that are "critical" to the firm in the third and fourth quarter of this year. "There's no hiring freeze, but we expect to cut back significantly in hiring in the third and fourth quarters of this year, and continue to only hire for critical roles," a spokesman at Morgan Stanley said.
Find out more at http://www.myfoxny.com/dpps/your_money/morgan-stanley-slows-hiring-outside-critical-areas-dpgonc-20110718-bb_14185228
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