Layoffs Watch ’11: Morgan Stanley

A few hundred will be told their services are no longer necessary.

Morgan Stanley will lay off 200 to 300 trainees and lower-producing financial advisers in its brokerage joint venture, according to a person familiar with the situation…Trainees likely to be laid off include brokers who have worked at the firm for six to 36 months who had $25,000 or less in annual production. Lower producers who could be let go include five-year industry veterans who have been with Morgan Stanley for more than a year and have an annual production under $75,000.

There is, however, some hope.

“If someone is showing growth potential, there is discretion involved,” the person said.

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15 Responses to “Layoffs Watch ’11: Morgan Stanley”

  1. Guest says:

    Growth Potential: Hot looking.

  2. BigR says:

    Jimmy to the G drags out the wideclops. I hope renaming the retail division increases revenues….Duh! Idiots!

  3. HFP says:

    UBS sucks

  4. Dean Witter says:

    I was 5’11” 34-waist when I joined the program, now I am 6’1″ 42-waist, does this show potential?

  5. Jimmy says:

    How could one even live on 75k in production a year? Best case scenario, you are making around 30k a year.

  6. Guest says:

    Still sucks. Sorry Stanley folk. Good luck.

  7. Guest says:

    Still sucks. Sorry Stanley folk. Good luck.

  8. Deanie Weenie says:

    It’s the damn e-Trade baby…He’s crushing the business model

  9. Boozy says:

    SEC employees accessing colorful sites from their work computers are showing constant “growth” potential and are getting penalized for it.

    True Story!