Morgan Stanley sheds jobs in economic shakeout

Abu Dhabi News.Net
Sunday 18th May, 2008

It has been reported that Morgan Stanley cut 1,500 jobs last week as part of a process to cut 5 percent of employees across almost every business, excluding the retail brokerage division.

Most of the cuts hit employees in the United States and Europe.

Over the past weeks, Morgan Stanley has slashed more than 4,400 mortgage, banking and trading jobs to reduce expenses and get over a period of slowing revenue.

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