Layoffs '16: Morgan Stanley Tells A Record Number Of Employees To Clean Out Their Desks

That's a lot of awkward conversations with HR.

The bank gave the "it's not you it's me" speech more times in the first quarter than it has in the last three years.

Morgan Stanley’s workforce is bearing the brunt of its cost-cutting efforts. The New York-based investment bank cut about 1,440 positions in the first quarter, the biggest reduction since the start of 2013, according to figures released Monday.

Morgan Stanley Shrinks Its Workforce Most in Three Years: Chart [Bloomberg]