May 29, 2019
SINGAPORE/HONG KONG (Reuters) – Morgan Stanley has cut about half a dozen equity sales, trading and research jobs across Asia as part of a global cost-cutting move, people familiar with the matter told Reuters on Wednesday.
The global job cuts at the U.S. investment bank mainly involve mid-level staff as well as a few senior executives, said one of the people, who declined to be identified due to the sensitivity of the matter.
Morgan Stanley declined comment.
One of the people with direct knowledge of the matter said Morgan Stanley informed the affected staff in Hong Kong, Singapore and other locations about the layoffs last week.
(Reporting by Anshuman Daga in SINGAPORE and Sumeet Chatterjee in HONG KONG; Additional reporting by Kane Wu in HONG KONG; Editing by Christopher Cushing)