• 09 Jan 2013 at 9:34 AM

Layoffs Watch ’13: Morgan Stanley (Update)

Cuts are expected to go down in Asia. (Update: and elsewhere!)
From the front lines:

“Morgan Stanley will be making firmwide cuts in Asia next week. Not clear how deep the cuts will be but some groups may be slashed by as much as 20%. Unclear if the RIF will be global or limited to Asia.”

Update: According to Bloomberg, MS “plans to cut about 1,600 jobs from its investment bank in coming weeks,” with “about half” of the reductions occurring in the US.

30 comments (hidden to protect delicate sensibilities)
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Comments (30)

  1. Posted by Financial Spamurai | January 9, 2013 at 10:15 AM

    Ooh – a layoff post!

    Drivel snivel blah blah blah oggidy-boogidy, whoops! I just pissed myself.

  2. Posted by Guest | January 9, 2013 at 10:16 AM

    Half of the US are Asian?
    -MS Cultural Quant Long Asian/Short Hispanic

  3. Posted by Gunthar | January 9, 2013 at 10:17 AM

    How idiotic! They could have cut them before bonus season and save additional botload of money, as high as 10 mil.

    – UBS office of CFO quant.

  4. Posted by guest | January 9, 2013 at 10:20 AM

    Actually he hasn't been seen around these parts for a while…

  5. Posted by Hansel | January 9, 2013 at 10:33 AM

    Is he still planning on assassinating the Prime Minister of Malaysia?

  6. Posted by it happenned to me | January 9, 2013 at 10:37 AM

    typically they give you no bonus in hopes that they will quit…and if that doesnt happen.. they take out the ax

  7. Posted by Guest | January 9, 2013 at 10:48 AM

    At this rate he is soon going to be firing Stanley.

  8. Posted by guest | January 9, 2013 at 10:48 AM

    Following in UBS footsteps is a proven winner

  9. Posted by guest | January 9, 2013 at 11:03 AM

    any adult here have something to post with more color on these layoffs?

  10. Posted by Mack | January 9, 2013 at 11:05 AM

    is it normal to experience an erection when they talk about layoffs, or it's just me?

    – Mack the Knife

  11. Posted by Guest | January 9, 2013 at 11:11 AM

    Meet me in the Equinox steam room at 4:20 today., code word "prosciutoo crudo"

  12. Posted by Jim Mora | January 9, 2013 at 11:16 AM

    Playoffs?

  13. Posted by anonymouse | January 9, 2013 at 11:16 AM

    It is before bonus season- numbers are being communicated jan 17th, rumor has it.

  14. Posted by J.M. | January 9, 2013 at 11:22 AM

    Problem with cutting Asians is that you are just hungry for more cuts later.

  15. Posted by Adult Chimp, CFA | January 9, 2013 at 11:23 AM

    Severance will be at least enough to purchase several pairs of Bonobos PIK Toggles!

  16. Posted by Guest | January 9, 2013 at 1:56 PM

    What if you cut 75 million?

    – Chairman Mao

  17. Posted by Guest1 | January 9, 2013 at 2:47 PM

    Economic Recovery is getting to everyone
    http://www.dailyjobcuts.com
    .

  18. Posted by action jaxson | January 9, 2013 at 2:55 PM

    Yes, it is normal. However, if you experience an erection lasting more than 4 hours…go find a woman.

  19. Posted by James Gore man | January 9, 2013 at 4:31 PM

    "bonus season- numbers" ( read clawbacks ) to be announced next week.

  20. Posted by UBS Asia | January 9, 2013 at 4:32 PM

    you mean myanmar

  21. Posted by Ollie | January 9, 2013 at 4:32 PM

    Exactly !

  22. Posted by Phenotype quant | January 9, 2013 at 4:33 PM

    some asians aren't that brown/yellow

  23. Posted by SEC | January 9, 2013 at 4:34 PM

    and they are ususally engaged in criminal behavior

  24. Posted by James S. Cramer | January 9, 2013 at 5:04 PM

    WHO ARE YOU COCKANAMY SKEE DADDIES TALMBOUT!?!?!?!? I WANNA KNOOOOOOW

  25. Posted by Procuitoo Crudo | January 9, 2013 at 9:11 PM

    Thanks guestjerk. Now I can't go to the Equinox today. Ruined it for everyone.

  26. Posted by Guest | January 10, 2013 at 5:43 PM

    They have those?

  27. Posted by Shanghai MS Employee | January 14, 2013 at 6:49 AM

    Layoff began today in HK office, no impact on Shanghai office so far. Seems those who get higher pay are mmore likely to be laid off.

  28. Posted by Ty Webb | January 14, 2013 at 11:03 PM

    In North America today, as well. Quite a few in the Private Bank.

  29. Posted by sohbet | May 12, 2013 at 6:33 PM

    telling these little stories, here's a good idea: Have a point. It makes it so much more interesting for the listener.

  30. Posted by sohbet | July 8, 2013 at 9:28 PM

    officers to investigate Blackstone's fishy financial transactions, but they wound up giving them