Morgan Stanley (MS) is planning to lay off about 2,000 employees later this month, according to several media reports citing people familiar with the matter.
The layoffs, representing 2% to 3% of the company's workforce, will exclude financial advisers and are aimed at enhancing operational efficiency. This marks the first significant workforce reduction under Chief Executive Officer Ted Pick.
The downsizing plan, affecting the bank's workforce of around 80,000 employees, was initiated prior to the recent market volatility, the reports said.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.