• 15 Dec 2011 at 9:48 AM

Layoffs Watch ’11/12: Morgan Stanley

By

The House of Gorman is planning to free up some desk space next year.

Morgan Stanley plans to cut about 1,600 jobs globally. Reductions will occur in the first quarter of 2012 on all levels of the New York-based firm, said Mark Lake, a company spokesman. That amounts to about 2.6 percent of the 62,648 employees it had at the end of September, according to a quarterly financial report.

[Bloomberg]

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Comments (72)

  1. 1
    Posted by Fixed Income | December 15, 2011 at 10:05 AM

    Apres moi, le deluge so come see me at Bergdorf for our extensive selection of waterproof footware.

    – J. Mack

  2. 2
    Posted by Guest | December 15, 2011 at 10:08 AM

    We had to pay for my party somehow.

    - J. Mack

  3. 3
    Posted by Markus Niku | December 15, 2011 at 10:09 AM

    FOOT DIVE!!!

    - dr doom

  4. 4
    Posted by John Mack | December 15, 2011 at 10:15 AM

    Paging Wide Clops…..Please report to the HR Gallows……

  5. 5
    Posted by Spotswood | December 15, 2011 at 10:20 AM

    Hey, Gorman, have you ever seen a man eat his own head?

  6. 6
    Posted by Merchant Refugee | December 15, 2011 at 10:22 AM

    Working in the financial services industry is the NKI.

  7. 7
    Posted by bonus denial quant | December 15, 2011 at 10:25 AM

    Okay, so, like, one of you two is getting fired, but not 'till next year, so I wanna see the kitchen sink of dirty tricks between now and then.

  8. 8
    Posted by guesto | December 15, 2011 at 10:26 AM

    Be the first of your friends to Mark Lake this.

  9. 9
    Posted by senor_chistes | December 15, 2011 at 10:38 AM

    To the 300 lowest producing FAs at MSSB:
    Do I have an opportunity for you!

    - Northwest Mutual MD of HR

  10. 10
    Posted by Guest | December 15, 2011 at 10:48 AM

    I'm surprised CG did not break this story first. He must be out picking up his baccala.

  11. 11
    Posted by Eggplant Parm | December 15, 2011 at 10:56 AM

    Hey Mark Lake, take a step back and LITERALLY F YOUR OWN FACE

  12. 12
    Posted by Warburg Baller | December 15, 2011 at 11:03 AM

    I'm so glad I left this bulge-bracket place for a prestigious position at the premier buy-side Private Equity firm of Warburg Pincus. My timing was impeccable, my job security is great, my bonuses are untouched, and I can laugh at my former colleagues get fired. They deserved it. None of them were good enough as me to move on to Warburg.

    Don't cry for me suckers.

    -Warburg Pincus Principal

  13. 13
    Posted by Not a Jimmy Fan | December 15, 2011 at 11:09 AM

    Meet me at Minetta's. I'll be the one punching you in the face and then waiting for your evil henchman Igor, I mean Saperstein.

  14. 14
    Posted by Guest | December 15, 2011 at 11:10 AM

    I'm so glad I left this bulge-bracket place for a prestigious position at the premier sell-side firm of Jos A Bank. My timing was impeccable, my job security is great, my bonuses are untouched, and I can laugh at my former colleagues get fired. They deserved it. None of them were good enough as me to move on to Jos A Bank.

    Don't cry for me suckers.

    -Jos A Bank Baller (former JC Penny-ite)

  15. 15
    Posted by Put_Option | December 15, 2011 at 11:18 AM

    Best of luck with the Punj Lloyd exit…. Hope you were the guy that suggested WP take a 5.5% stake at 116 and advised the sale at 41.

    Sick holding period return (aprox -64%) brah!

  16. 16
    Posted by Warburg Baller | December 15, 2011 at 11:19 AM

    Hey salesman,

    Soon – Warburg is gonna LBO Jos A. Bank. We're gonna LBO your ass and fire you on the streets. You can go back and sell socks and underwear at some inner-city mall's OLD NAVY — that's where you belong.

    Actually this is true for my former colleagues at Morgan Stanley also — they can do no better in this economy than just be in retail. Gap's hiring fellas… while I'm rolling in the dough.

    -Warburg Pincus Principal, Partner Track.

  17. 17
    Posted by Jay | December 15, 2011 at 11:22 AM

    Bess, your bergdorf tag should have been the title for this article.

  18. 18
    Posted by Fearful Acolyte | December 15, 2011 at 11:23 AM

    Will there be Jeter style gift baskets at the HR meeting? Perhaps an old MSDW tshirt or sleeve of golf balls. If I can't be part of the best Financial Services firm in history, please, at least give me some lovely parting gifts.

    - I'll be hiding in the stall standing on the seat if you're looking for me.

  19. 19
    Posted by Guest | December 15, 2011 at 11:30 AM

    All three of these comments were fucking horrible, please refrain from posting additional comments

    Thanks,

    DB

  20. 20
    Posted by Guest | December 15, 2011 at 11:40 AM

    I'll bet when you make eye contact with KKR guys, your head involuntarily jerks downward.

  21. 21
    Posted by BottlesCallGirlsCap | December 15, 2011 at 11:44 AM

    Haha you tool, while your busy bragging to chicks that about the Bausch and Lomb deal from forever ago I'll be slamming starry eyed naive bottles and downing margs with a certain former sellside VP.

    -VP, Prestigious Boston Based Private Equity Firm

  22. 22
    Posted by Cut Me | December 15, 2011 at 11:47 AM

    No need to be upset that you were weeded out of our interview process.
    -B. Diamond

  23. 23
    Posted by Warburg Baller | December 15, 2011 at 11:56 AM

    Hey Put_Option,

    I'm gonna go short you. I'm the brain behind the Bausch & Lomb deal. You know — all $4 billion of it. That contact lens in your myopic eyes? Manufactured by Bausch owned by Warburg. We own that shit bra. Have you switched to Johnson's contacts. That's why you reading this weird shit about some Punj Loyds.

    That Punj Loyd non-sense is the work of those brown Indians eating too much curry and farting in India. Not the NY office where we ballers be.

    -Glad to have exited the house of Mack

  24. 24
    Posted by Yakov | December 15, 2011 at 11:56 AM

    I award you no points, and may God have mercy on your soul.

  25. 25
    Posted by In Soviet Russia... | December 15, 2011 at 12:09 PM

    Quoting Billy Madison is the NKI. That would be Not Killing It.

  26. 26
    Posted by Bennett | December 15, 2011 at 12:10 PM

    Do you also sell custom skis? Been looking for a pair and don't know where to turn.

  27. 27
    Posted by FKApmco | December 15, 2011 at 12:10 PM

    Deal details on DB? So now Warburg compliance know who you are? Well played soon-to-be-unemployed-big-headed-I-can-just-tell-I-wouldn't-like-you dude

  28. 28
    Posted by Alt_EST | December 15, 2011 at 12:25 PM

    The jerk-off comments say, "I'm a state-college sophomore who found LSO and thought that shit was serious," but the racism says, "I have never examined my motives."

    Now kindly burn for your stupidity.

  29. 29
    Posted by Kelley MBA | December 15, 2011 at 12:29 PM

    I guess it's a new year:
    http://www.foxbusiness.com/markets/2010/10/21/job…

  30. 30
    Posted by Neil Diamond | December 15, 2011 at 12:42 PM

    Thumbs up if Warburg Baller is the biggest tool in NY

    I'll be you my bonus you're an analyst or associate that nobody likes.

  31. 31
    Posted by Anon | December 15, 2011 at 12:52 PM

    Shutup Thomas Shi (WP analyst known to say stupid shit like this)

  32. 32
    Posted by Gor | December 15, 2011 at 12:57 PM

    not quite details to be fair… let's hear this jizz boy out.

  33. 33
    Posted by Yakov | December 15, 2011 at 12:58 PM

    Helen Keller could give you (and Not a Jimmy Fan) a verbal lashing, I won't waste my time. Welcome to DB.

  34. 34
    Posted by Hicks Muse Tate | December 15, 2011 at 1:07 PM

    07 even…

    buy side private equity deals from that period is exactly where I want my capital tied up right now.

  35. 35
    Posted by R. Kravis | December 15, 2011 at 1:10 PM

    I remember my first Private Equity deal

  36. 36
    Posted by Sharpest Crayon | December 15, 2011 at 1:11 PM

    I don't believe half the comments I read on Dealbreaker.

    -Guy Who Writes Half the Comments on Dealbreaker.

  37. 37
    Posted by Put_Option | December 15, 2011 at 1:13 PM

    Wait… If you were to short a put, isn't that close to the same thing as saying you're long the underlying aka me?

  38. 38
    Posted by guest | December 15, 2011 at 1:14 PM

    When she wants your opinion she'll ask for it.

  39. 39
    Posted by The Revolting Blob | December 15, 2011 at 1:15 PM

    http://www.warburgpincus.com/people/ViewEmployee,…

    Could this be our new friend!!!!!

  40. 40
    Posted by Guest | December 15, 2011 at 1:22 PM

    Hey guys, cool down. I mean come on, hakuna matata.

  41. 41
    Posted by Canine Canibal | December 15, 2011 at 1:27 PM

    http://www.warburgpincus.com/people/ViewEmployee,…

    More like him

  42. 42
    Posted by Gozer | December 15, 2011 at 1:29 PM

    props on the clever handle

  43. 43
    Posted by Guest | December 15, 2011 at 1:42 PM

    I'm not very long, but would you still love me?
    -Ping

  44. 44
    Posted by Brother | December 15, 2011 at 1:44 PM

    Did you eat paint chips as a kid?

    …yeah, why?

  45. 45
    Posted by HungryIntern | December 15, 2011 at 1:45 PM

    Warburg Baller,

    Thanks for making us laugh…Now, can you please go to the corner and take your medicine like the rest of your family members.

    Sincerely,
    Rothschild’s, the non bipolar Jewish banking family

  46. 46
    Posted by Utah Clerk | December 15, 2011 at 1:47 PM

    2.6 percent. Didn't GS rotate 5% a year. Small beer.

  47. 47
    Posted by Guest | December 15, 2011 at 1:51 PM

    I think Warburg's prestige just dropped a little.

  48. 48
    Posted by Guest | December 15, 2011 at 1:53 PM

    When is this guy getting replaced by someone more qualified, say Maxine Waters?

  49. 49
    Posted by N. Ryan | December 15, 2011 at 2:12 PM

    I got it.

  50. 50
    Posted by In Soviet Russia... | December 15, 2011 at 2:26 PM

    Let me pull down my pants and turnaround so you can give me a verbal/tongue lashing.

  51. 51
    Posted by Guest | December 15, 2011 at 2:44 PM

    Ohh Snap!!

  52. 52
    Posted by Peter Griffin | December 15, 2011 at 3:40 PM

    Well, I can drink a case of Budweiser in 10 minutes flat, so stuff it up your Dockers, Mr. Wadsworth Douchington V.

  53. 53
    Posted by FKApmco | December 15, 2011 at 4:28 PM

    Isn't a short put the sale of a put option? Don't worry, P_O, we all know you aren't for sale*

    * Actually, you probably are for the right price but I digress

  54. 54
    Posted by Out for vengeance | December 15, 2011 at 4:55 PM

    It's amazing how these firms torture and fire anyone of value while the shit stays forever safe and sound. MS was the worst, perversly run organization I have ever worked for and I hope it goes bankrupt. Only in a place like MS can PhDs report to someone without even a 4 year degree that blatantly abuses authority to make up for being an embarrassment to humanity.

  55. 55
    Posted by Guest | December 15, 2011 at 5:20 PM

    Like most consultants Gorman's only tool is more layoffs. I guess you can take the man out of consulting but you can't take the consultant out of the man.

    He's a lot like Sally Krawcheck. They benefited from a halo effect and are/were totally under-qualified for their positions.

  56. 56
    Posted by MS MD | December 15, 2011 at 7:48 PM

    MS doesnt hire people without degrees

  57. 57
    Posted by Guest | December 15, 2011 at 8:42 PM

    Your use of capitalization sucks, teeny winky.

  58. 58
    Posted by BlondeWithPedigree | December 16, 2011 at 12:48 AM

    lots of blonde MDs at MS

  59. 59
    Posted by tseug | December 16, 2011 at 2:13 AM

    Wow! You MS guys have doctors working there!?

    -UBS MD

  60. 60
    Posted by Guest | December 16, 2011 at 2:57 AM

    Who this guy? http://www.linkedin.com/pub/ding-thomas-shi/5/7ab…

  61. 61
    Posted by David R | December 18, 2011 at 10:40 PM

    Probably Finance department will get hit hard. Only 30 percent have resigned so far

  62. 62
    Posted by guest | December 23, 2011 at 1:59 AM

    fyi fixed income layoffs jsut stared ystdy and today

  63. 63
    Posted by Msquant | December 27, 2011 at 4:34 PM

    which part of fixed income ?

  64. 64
    Posted by guest | December 27, 2011 at 10:32 PM

    2nd and 3rd floors

  65. 65
    Posted by MS_HR_MD | December 28, 2011 at 10:09 PM

    No, MS gets rid of PhDs, huh? [Its a dumbing down time]

  66. 66
    Posted by MS quant quant | December 29, 2011 at 3:20 AM

    i am shaking in my boots

  67. 67
    Posted by guest | December 29, 2011 at 7:34 PM

    big cuts in fixed income coming next week

  68. 68
    Posted by guest | December 30, 2011 at 4:58 PM

    cuts start thursday

  69. 69
    Posted by guest | January 5, 2012 at 9:35 PM

    cuts started today and continue for two weeks

  70. 70
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  71. 71
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  72. 72
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