• 10 Jul 2012 at 12:16 PM

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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Comments (82)

  1. Posted by guest | July 10, 2012 at 12:17 PM

    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. Posted by NASA | July 10, 2012 at 12:19 PM

    More people joining me in space!

    – AK 'Buzz lightyear'

  3. Posted by Guest | July 10, 2012 at 12:27 PM

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

  4. Posted by guest | July 10, 2012 at 12:33 PM

    Guest- did you stop taking your meds today? Shame on you.

  5. Posted by guest | July 10, 2012 at 12:35 PM

    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.

  6. Posted by guest | July 10, 2012 at 12:35 PM

    I hope you burn for your stupidity.

  7. Posted by guest | July 10, 2012 at 12:36 PM

    You're a fucking idiot.

  8. Posted by guest | July 10, 2012 at 12:37 PM

    Really? The "This is sponsored content" and "This is an ad" in not one but two places didn't tip you off that the post was an ad?

  9. Posted by guest | July 10, 2012 at 12:38 PM

    Shame on you for having shit where your brain should be.

  10. Posted by concerned guest | July 10, 2012 at 12:55 PM

    you tell m reverend!!

  11. Posted by Guest | July 10, 2012 at 1:03 PM

    It's even a different fucking color.

  12. Posted by LSO Troll | July 10, 2012 at 1:05 PM

    That was so Piper-Jaffrayish of you.

  13. Posted by Hakuna Matata Guy | July 10, 2012 at 1:23 PM

    Taken a breather pal! Everyone makes a mistake once in a while. Cheer up!

  14. Posted by Guy with A.D.D. | July 10, 2012 at 1:42 PM

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

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  15. Posted by guest | July 10, 2012 at 1:52 PM

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

  16. Posted by Guest | July 10, 2012 at 2:00 PM

    Classic Bess!

  17. Posted by Guestest | July 10, 2012 at 2:00 PM

    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.

  18. Posted by PermaGuestII | July 10, 2012 at 2:02 PM

    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

  19. Posted by gab | July 10, 2012 at 2:05 PM

    Keep your hands off my Bonobos Barney!

  20. Posted by Grinders | July 10, 2012 at 2:10 PM

    Our day will come.

    – The Amish.

  21. Posted by Guest | July 10, 2012 at 2:15 PM

    Alright…it's you.

  22. Posted by UBS IT Dept. | July 10, 2012 at 2:20 PM

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

  23. Posted by Deleveraging | July 10, 2012 at 2:25 PM

    Barney, I thought you were on your Honeymoon?

  24. Posted by bologna pony | July 10, 2012 at 2:29 PM

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

  25. Posted by Guest | July 10, 2012 at 2:40 PM

    Pretty sure this is nothing new.. .http://dealbreaker.com/tag/this-is-an-ad/

  26. Posted by VonSloneker | July 10, 2012 at 2:54 PM

    Would it kill you to pump up the click through and page view stats to keep the lights on?

    – Former Petz.com CMO

  27. Posted by HAM05 | July 10, 2012 at 3:13 PM


  28. Posted by guest | July 10, 2012 at 3:44 PM

    That business would make a killing in Brooklyn.

  29. Posted by PermaGuestII | July 10, 2012 at 3:54 PM

    Also figuring the buggy whip/riding crop market is seeing a nice little pop courtesy of "50 Shades of Grey"

  30. Posted by Old School Typist | July 10, 2012 at 4:02 PM

    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.

  31. Posted by L. Armstrong | July 10, 2012 at 4:07 PM

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

    Go on…

  32. Posted by Deleveraging | July 10, 2012 at 4:15 PM

    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.

  33. Posted by Guest | July 10, 2012 at 6:42 PM


  34. Posted by contango | July 10, 2012 at 8:52 PM

    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".

  35. Posted by Guest | July 10, 2012 at 10:04 PM

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

    AIG headcount quant

  36. Posted by Dennis Duffy | July 11, 2012 at 1:39 AM

    Don't worry, technology is cyclical.

  37. Posted by Guest | July 11, 2012 at 5:16 AM

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

    – UBS MD

  38. Posted by Pete from the bush | July 11, 2012 at 7:40 AM

    I can see that your tact, and knowledge of where you're posting, would serve you well writing about getting fired. No more of your stupid posts.

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