The House of Jim is said to have spent the week telling a bunch of traders to clear out their desks.
Morgan Stanley eliminated trading jobs in fixed income, currencies and commodities in London this week because of tough market conditions, three people with knowledge of the plan said. The dismissals included traders in foreign exchange and liquid flow rates, the people said, asking not to be identified as the details are private. The cuts were made starting June 3, two of the people said. Hugh Fraser, a spokesman for Morgan Stanley in London, declined to comment.