Layoffs Watch '15: Morgan Stanley To Part Ways With 25% Of Fixed-Income Employees

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Kind of a sh*tty Christmas gift.

Morgan Stanley is planning a reduction of as much as a quarter of its fixed-income staff after years of revenue declines and insufficient returns, according to people with knowledge of the plans. The cuts will be across all regions and are set to take place in the next two weeks, said two of the people, who asked not to be identified because the decision hasn’t been publicly announced. Hugh Fraser, a spokesman for the New York-based bank, declined to comment.

Morgan Stanley Said to Plan Global Fixed-Income Job Cuts [Bloomberg]

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Employees within fixed income may need to find room at another inn. People inside Morgan Stanley are bracing for layoffs in the fixed income department. Sources inside Morgan Stanley say people within the fixed income business are expecting a dramatic downsizing of that business. They are not thinking about a total exit, maybe exiting certain parts of it, spinning those off if they can, but clearly a radical downsizing. MS Planning Layoffs [FBN]