(CNBC) Morgan Stanley cut about 2% of its staff on Tuesday, according to people with knowledge of the layoffs. The moves, reported first by CNBC, impacted about 1,600 of the company’s 81,567 employees and touched nearly every corner of the global investment bank. Morgan Stanley is following rival Goldman Sachs and other firms including Citigroup and Barclays in reinstating a Wall Street ritual that had been put on hold during the Coronavirus pandemic: the annual culling of underperformers.
Morgan Stanley cuts 2% of global staff on Tuesday, sources say
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