Layoffs Watch '08: Morgan Stanley Ups The Ante

Posted by Bess Levin, Feb 13, 2008, 2:07pm

two and a half men.jpgMorgan Stanley is now (like, right this second, according to Alley Insider) laying off an additional one thousand employees, on top of the thousand from a few weeks ago. The Journal says the cuts will affect mortgage employees, though we hear “no one in Fixed Income is safe.” And yet, Two and a Half Men is being allowed to come back with new episodes, as early as mid-March. Doesn’t seem fair. Got any more info? About anything? Anything at all? We're listening.

Morgan Stanley to Lay Off 1,000 Mortgage Employees [WSJ]
Morgan Stanley Prepares To Lay Off 1,000 Workers [WSJ]

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Comments

Posted by The Layoff Apologist, Feb 13, 2008 2:13PM

Our people make us great. We are thus right-sizing our people to increase how they make us what we are.

Posted by , Feb 13, 2008 2:31PM

How many at the top will be let go - the one who made the actual stupid decisions? You know the answer as well... And that's why a lot of peopel expect the Democrats to take Wall Street to the cleaners next year. It ain't gonna be pretty.

Posted by anon anon anon, Feb 13, 2008 3:10PM

The people at the top of this area are long gone. Believe me.

Posted by MBS, Feb 13, 2008 3:21PM

isnt this all mortgage clerks?

Posted by anon, Feb 13, 2008 3:36PM

the high yield trader we use just got canned

Posted by san fran gay man, Feb 13, 2008 3:58PM

the person in prime bro who talks to our back office got canned today, this is in san fran

Posted by , Feb 13, 2008 4:37PM

Hey, what's so bad about Two and a Half Men

Posted by dudleydawson, Feb 13, 2008 4:42PM

30 people in NYC Prime Brokerage - gone.

Posted by nycanon, Feb 13, 2008 5:47PM

PB too? thought it was just mortgage.

Posted by nysee, Feb 13, 2008 6:32PM

What was the package like for wall street folks who were cut these days... seems like every week, new cuts arise in the marketplace.

Posted by Ex MS Commodities, Feb 13, 2008 11:23PM

They sacked 6 traders on the oil desk, after that desk generated nearly 1bn usd.... kinda sucks

Posted by foobar, Feb 14, 2008 2:32AM

Layoffs in IT as well, quite a few VPs and EDs among the associates.

Posted by not sacked, Feb 14, 2008 7:47AM

Ho ware these business people going to find new jobs besides going through headhunter (efinancialcareers) ? Who is hiring ?

Posted by guest, May 23, 2008 9:56AM

I'm in Fort Worth, TX and we will be having a "town hall meeting" next week. They've already outsourced some of our processes and i heard that they have already fowarded alot on incoming call to California.....are we next???

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