• 09 Mar 2011 at 1:57 PM

Layoffs Watch ’11: Morgan Stanley

By

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.

Comments (15)

  1. 1
    Posted by Guest | March 9, 2011 at 8:06 PM

    Growth Potential: Hot looking.

  2. 2
    Posted by BigR | March 9, 2011 at 8:13 PM

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

  3. 3
    Posted by HFP | March 9, 2011 at 8:16 PM

    UBS sucks

  4. 4
    Posted by Juniormistmaker | March 9, 2011 at 8:31 PM

    It’s true.

  5. 5
    Posted by Juniormistmaker | March 9, 2011 at 8:31 PM

    It’s true.

  6. 6
    Posted by Guest | March 9, 2011 at 8:35 PM

    Sucks but hiring.

  7. 7
    Posted by Guest | March 9, 2011 at 8:35 PM

    Sucks but hiring.

  8. 8
    Posted by Quant from Bronx | March 9, 2011 at 8:37 PM

    sucks and hiring, hiring and sucks…

  9. 9
    Posted by Quant from Bronx | March 9, 2011 at 8:37 PM

    sucks and hiring, hiring and sucks…

  10. 10
    Posted by Dean Witter | March 9, 2011 at 8:45 PM

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

  11. 11
    Posted by Jimmy | March 9, 2011 at 10:36 PM

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

  12. 12
    Posted by Guest | March 9, 2011 at 11:21 PM

    Still sucks. Sorry Stanley folk. Good luck.

  13. 13
    Posted by Guest | March 9, 2011 at 11:21 PM

    Still sucks. Sorry Stanley folk. Good luck.

  14. 14
    Posted by Deanie Weenie | March 10, 2011 at 12:58 AM

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

  15. 15
    Posted by Boozy | March 11, 2011 at 5:10 AM

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

    True Story!