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.