Layoffs Watch '11/12: Morgan Stanley
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.