News

Morgan Stanley Has Canned Enough Employees At This Point

Great news for anyone who’s been sitting nervously at their desk at Morgan Stanley the last few days, wondering whether or not their boss was about to tap them on the shoulder to go have a chat with HR: if you’ve made it this long, you’re safe! There will be no more human layoffs for the foreseeable future (plants may still be at risk).

“We are very comfortable with the headcount we have right now. These have been tough decisions. No one enjoys going through a restructuring the kind we have been through and other firms on the Street have been going through. Every day, it is a different financial institution. We are down 6000 people from 12 1/2 months ago. It is pretty incredible. That’s now built into our run rate of expenses. We feel very comfortable with where we are now. The run rate is now lower as a result of those people coming out.”

Morgan Stanley Not Exiting Fixed Income [Bloomberg]

16 comments
(hidden for your protection)
Show all comments

16 Responses to “Morgan Stanley Has Canned Enough Employees At This Point”

  1. Guest says:

    Yup, heard that one before.

    –Everyone at every other bank not named MS

  2. So Much to Love says:

    BBG @ 5:05: Would you be so bold as to do what UBS is doing and exit that [fixed income] business?
    JG @6:20: Eric … there is no thing called a fixed income business.

  3. Strong Sell says:

    You can never can too many employees.

    -Head of UBS human resources

  4. Jolly Green Giant says:

    Canning empoyees is a great way to increase their shelf life. And you can enjoy them all winter.

  5. Hobbes says:

    James Gormon is still CEO, so I'm going to have to disagree.

  6. Tsao says:

    As per Wall Street, Foreseeable Future = 10 weeks.

    UBS Futures Quant

  7. Footprint says:

    My MD once said on Town Hall that he was very comfortable with his organization's geographical footprint. One month later, he shut down two offices. So, to me, when they say they are comfortable with something, only means they are contemplating getting rid of it and just biding time. If your wife tells you she is comfortable with your marriage you better ask for good divorce lawer references.

    – Color me sceptical.

  8. Advice from HR says:

    "It is not our intention to have any additional reductions" — magic words to live by.

  9. Pess E Mist says:

    We're done canning people. Now we make it so miserable that holdouts start bailing.

    – Reading between the lines strategist

  10. sohbet says:

    goods blogs thanksadsasd

  11. goods blogs thankssadsa

  12. chat says:

    goods blogs thanksasdad

  13. sohbet says:

    we always do a great job with our layoffs.

  14. sohbet says:

    oyment to talk to your publish. It is well-articulated, razor-sharp, along with goal. What beneficial instruction you may have learned that you put onto this kind of release. Searching to

  15. well-articulated, razor-sharp, along with goal. What beneficial instruction you may have learned that you put onto this kind of release. Searching to

Our Sites

  • Above the Law
  • How Appealing
  • ATL Redline
  • Breaking Defense
  • Breaking Energy
  • Breaking Gov
  • Dealbreaker
  • Fashonista
  •