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Layoffs Watch ’12: Morgan Stanley

The House of Gorman is said to be in the process of letting some employees down easy.

Morgan Stanley will this week complete a round of job cuts that will ultimately lead to the company shedding 100 sales and trading staff, underscoring what is expected to prove a dismal second quarter for Wall Street banks. The cuts are across Europe, the Middle East and Asia, according to people familiar with the New York-based bank’s plans. The bank has so far laid off about two-thirds of its original 100-person target, leaving some 33 people to go this week.

Morgan Stanle Said To Shed Staff As Deals Fall [FT]

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82 Responses to “Layoffs Watch ’12: Morgan Stanley”

  1. guest says:

    You're giving me the "it's not you, it's me" routine? I invented "it's not you, it's me". Nobody tells me it's them not me, if it's anybody it's me.

  2. NASA says:

    More people joining me in space!

    – AK 'Buzz lightyear'

  3. Guest says:

    Bess – did you try to fool us into clicking an Ad today? Shame on you.

  4. guest says:

    Pretty sure Guest is talking about the post that was labeled "Sponsored Content" and "This is an ad" that no one with a brain thought was an actual post but- wait for it- an *Ad* and therefore did not click on.

  5. Guy with A.D.D. says:

    Wait, so men's shorts arent really 40% off?
    Why am I here than?

    – Barney Frank

  6. guest says:

    I think I'd rather be a typewriter repairman than a banker in europe right now. (And for the next 5 or so years).

    • PermaGuestII says:

      You could probably make a killing at that in New York. Guaranteed there are a few thousand people somewhere amongst the 8mm that use and like typewriters– demand + no competition = profit.

      -guy who has also pondered the fact that if you are the *only* manufacturer of buggy whips you're actually in a pretty good spot

      • Grinders says:

        Our day will come.

        – The Amish.

      • UBS IT Dept. says:

        We'd be very interested in hiring someone with that type of expertise, please be in touch.

      • guest says:

        That business would make a killing in Brooklyn.

      • Old School Typist says:

        I buy and sell old IBM Selectrics as a hobby. Great for envelopes and authory-type work if your not into the word processing thing. You can get them for around $10 at a thrift shop or estate sale. They cost about $75 to refurbish and there are plenty of places online to order parts. The invention of the "select" type ball made IBM a lot of money back in the day. They weigh 44 pounds and shipping costs about the same in dollars. Probably a good idea to have a place where you can get your hands on fresh new balls if the need arises.

        • L. Armstrong says:

          "Probably a good idea to have a place where you can get your hands on fresh new balls if the need arises."

          Go on…

        • Deleveraging says:

          My favorite were the old Exxon Typwritters. Besides having a functional purpose, they serve as a reminder of what happens to a business when a nation has out-of-control tax policies & regulations.

    • Dennis Duffy says:

      Don't worry, technology is cyclical.

  7. Guest says:

    Classic Bess!

  8. Guestest says:

    We'll also be changing the name to Gorman Stanley as that's more appropriate. We will not be wasting any letters in the process.

  9. bologna pony says:

    Any reports on what kind of boots the HR rep is wearing?

  10. Guest says:

    Jackboots?

  11. contango says:

    When i was let go my the house of Morgan I was so devastated I told the HR rep to meet me at Johnny Utah's after work, great proximity to the office, but primarily for the incredible bathroom situation. Obviously I went to The Patriot immediately for a few Pabst's. I ran into an old acquaintance and proceeded to the Black Door for some Jack shots. Then we decided to patronize Merc Bar because i enjoy leaning back in the bar stools while staring up at the canoe on ceiling pretending i am on a glacial lake. I got bored rather quickly as the clientele is generally stagnate. At this point the HR "analyst" was calling me incessantly but I chose to visit one of my favorite bar tenders at The Penny Farthing instead. She felt bad for me so I was offered a few patron shots. Things got rather hazy at this point but I recall sending her a text telling her she'd actually have to meet me at LIT (mind you this is about 12 on a tuesday). She not only came but brought some of her HR friends. To me this was a green light, i mean post 12 at LIT during the week should have explained my true proposition rather clearly. The next morning i left a note on her fridge, "you truly are a great Anal-yst".

  12. Guest says:

    How do you fire 66 & 2/3rds of a person?

    AIG headcount quant

  13. Guest says:

    Nice of you to join the rest of us in the 99%

    – UBS MD

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