US banking giant Morgan Stanley lays off 2,500 employees, source says
The Straits Times
The job cuts were across the bank’s three major divisions. Read more at straitstimes.com.
Bengaluru - Investment banking giant Morgan Stanley has laid off about 3 per cent of its workforce, or roughly 2,500 employees, across all divisions, a person familiar with the matter told Reuters on March 4.
The job cuts were across the bank’s three major divisions, investment banking and trading, wealth management and investment management, but do not affect its financial advisers, the person said, requesting anonymity to discuss confidential information.
Morgan Stanley reported a banner year in 2025, with annual revenue hitting a record at the investment banking giant.
It also beat Wall Street estimates for fourth-quarter profit in January, fuelled by a 47 per cent jump in investment banking revenue as dealmaking surged and debt underwriting fees nearly doubled.
Banking executives had struck an optimistic tone for 2026 on the back of healthy pipelines for mergers and acquisitions as well as initial public offerings.
Meanwhile, volatile markets amid worries of artificial intelligence disruption to legacy technology businesses and geopolitical turmoil continue to boost trading desks as clients reposition portfolios to hedge against risks.
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