• 05 Jan 2011 at 12:33 PM

James Gorman Keeping Employees In Suspense

By

Despite just last month receiving the official word that bonuses will be down ten to thirty percent (at best) this year, Morgan Stanley employees have been girding their loins for the bad news since at least September. With a few weeks to go ’til real numbers are communicated, they’re at the ‘just rip it off already’ stage. And bonuses are not the only thing they’re waiting on.

“FYI, we also haven’t heard anything on promotions (which normally happen before Christmas). Apparently they’re going down around the same time as bonuses this year. Countering bad news with good or just giving out all the bad news at once?”

Sign up for the Dealbreaker newsletter

Subscribe to our free daily email and get breaking news, financial headlines, commentary, and analysis from Dealbreaker.

— Advertisement —

Comments (14)

  1. 1
    Posted by Guest | January 5, 2011 at 6:05 PM

    hear me roar, bitches.

    -JG

  2. 2
    Posted by CoveredLong | January 5, 2011 at 6:07 PM

    Word is he’s giving a copy of his latest book to all those cut – along with a card that reads “termination doesn’t have to be forever”

    http://blogs.smithsonianmag.com/dinosaur/files/2009/03/how-to-build-a-dinosaur-horner.jpg

  3. 3
    Posted by Pfluger the Barbarian | January 5, 2011 at 6:23 PM

    Hey, MS employees, give me a call — I have several suggestions on how you can show your displeasure.

    - Deputy Commissioner, NYC Department of Sanitation, Bureau of Cleaning and Collection

  4. 4
    Posted by Pfluger the Barbarian | January 5, 2011 at 6:23 PM

    Hey, MS employees, give me a call — I have several suggestions on how you can show your displeasure.

    - Deputy Commissioner, NYC Department of Sanitation, Bureau of Cleaning and Collection

  5. 5
    Posted by Jason STATHAM. | January 5, 2011 at 7:02 PM

    morgan stanley sucks?

  6. 6
    Posted by Guest | January 5, 2011 at 9:07 PM

    Gorman is just as big a moron as Mack. MS is doomed to oblivion where it belongs!

  7. 7
    Posted by Abcd | January 5, 2011 at 9:16 PM

    geoffrey bux = cash substitute (@ toys-r-us)

  8. 8
    Posted by Abcd | January 5, 2011 at 9:16 PM

    geoffrey bux = cash substitute (@ toys-r-us)

  9. 9
    Posted by poor_and_stupid | January 7, 2011 at 4:12 AM

    I’ve got my number already.. I would share my bonus but Jimmy G is really glaring at me with that crowbar in his hand

    - guy who doesn’t actually have his number but is not optimistic

  10. 10
    Posted by Former MS Executive Director | January 10, 2011 at 1:18 PM

    Third year in a row management is “setting expectations low” and the talent is walking out the door as a result. Terrible strategy to force attrition rather than selectively lay off the low performers. I was there 12 years and I am glad I’m not there to hear another morale-killing sob story on numbers day.

  11. 11
    Posted by Mo | February 13, 2011 at 10:15 PM

    I have two words for Gorman-Wells Fargo. Please…look at their site, compare their product line to yours, and tell me you have a viable business model. I don’t see how people can go without bonuses or further, how MS will survive as an independent firm with a broker at the helm of an investment bank. The only reason the brokerage joint venture is not doing well is that MS management has no idea how to run it. Someone needs to shut this firm down.

  12. 12
    Posted by Irish | September 28, 2011 at 3:24 AM

    You get a lot of rpeesct from me for writing these helpful articles.

  13. 13
    Posted by efrpmzta | September 29, 2011 at 12:56 PM

    ErD2Ri rgadwbwyjccv

  14. 14
    Posted by sxvagx | October 2, 2011 at 12:15 PM

    RYlWSJ lmlujezosutb

Leave a comment

You can log in with your account or comment as a guest below.

   or