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Morgan Stanley plans to cut approximately 2,000 jobs, representing 2% to 3% of its workforce, as part of a strategic shift towards automation and efficiency under CEO Ted Pick. While financial advisers remain unaffected, the move reflects a broader trend among Wall Street firms adapting to economic uncertainties and technological advancements. The bank is simultaneously recruiting new senior talent in investment banking, signaling confidence in a future economic recovery.
Morgan Stanley's stock has declined 4.2% this year amid a slowdown in M&A activity, contrary to earlier expectations of a rebound. The firm plans to cut around 2,000 jobs to enhance efficiency, while analysts have turned bearish on its near-term prospects, despite long-term growth expectations of 13.3%. The stock currently trades at a premium valuation, suggesting cautious investment is advisable.
Morgan Stanley plans to cut 2,000 jobs, representing 2% to 3% of its workforce, as part of a restructuring effort influenced by performance evaluations and the rise of AI and automation. This marks the first significant layoff under CEO Ted Pick, although it will not affect 15,000 financial advisers.Co-president Dan Simkowitz noted that while merger and acquisition activities are currently on hold, the firm is hiring at senior levels in anticipation of a market recovery. This move follows similar job cuts by other Wall Street banks amid an uncertain economic climate.
Morgan Stanley's stock has seen a 14% decline over the past month, reflecting broader market volatility and uncertainty in the investment banking sector due to regulatory changes and economic concerns. While the company has diversified into asset and wealth management, the outlook for M&A and IPO activity remains subdued, suggesting a cautious approach for potential investors. Currently, the stock is considered a hold for long-term investors, trading at a reasonable valuation slightly above its historical average.
Morgan Stanley plans to lay off 2,000 employees in March 2025, marking the first major workforce reduction under CEO Ted Pick. The cuts, excluding financial advisers, are part of a cost management strategy amid minimal attrition and reflect broader industry trends amid economic uncertainty.While some layoffs are performance-based, others result from restructuring and strategic shifts, with a small portion linked to AI and automation. Despite expectations of increased deal activity following Donald Trump’s re-election, investment banking has stalled, prompting selective hiring of senior-level bankers in anticipation of a market recovery.
Morgan Stanley plans to cut around 2,000 jobs, its largest layoffs since CEO Ted Pick took over in January 2024, as AI tools increasingly automate tasks within the firm. While the cuts will not affect its 15,000 financial advisors, they reflect a broader trend in the industry, with expectations of a 3% workforce reduction across major banks due to automation.Despite these layoffs, Morgan Stanley reported record net revenues of $61.8 billion in 2024, attributing efficiency gains to AI advancements. The firm has introduced several AI tools to enhance productivity, with further reductions anticipated as the financial sector adapts to an AI-driven future.
[Bloomberg]
Morgan Stanley plans to cut 2,000 jobs from its 80,000-strong workforce, marking its first major layoffs under CEO Ted Pick. The reductions, driven by performance issues and the impact of AI, will spare the bank's 15,000 financial advisers. Executives anticipate further job cuts due to automation, with a broader trend across major banks indicating up to 200,000 roles at risk on Wall Street.
Morgan Stanley is set to lay off approximately 2,000 employees, representing about 2.5% of its workforce, as part of cost-control measures. The cuts will affect most of the 65,000 workers outside the financial advisory group, with selections based on performance and location, while some roles will be eliminated due to AI advancements. Despite these layoffs, the company’s stock has seen a decline of around 6% in 2025, although it has gained over 34% in the past year.
Morgan Stanley plans to cut about 2,000 jobs, representing over 3% of its investment banking staff, following similar moves by Goldman Sachs and Bank of America due to an unexpected lack of deal activity. Despite these reductions, the bank continues to hire at senior levels in anticipation of a market recovery.In a related note, Citigroup's latest proxy statement reveals that COO Anand "Selva" Selvakesari has dropped from the list of top-paid executives, likely due to a lower payout from the Transformation Bonus Program amid ongoing challenges in risk management and regulatory relations.
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