Wall Street giant Morgan Stanley is set to lay off approximately 2,000 employees later this month in a move aimed at improving operational efficiency, according to a report by Reuters.
The job cuts will account for about 2% to 3% of the company’s workforce, excluding financial advisers. A source familiar with the matter, who requested anonymity, emphasized that the layoffs were not linked to current market conditions.
Morgan Stanley, which employed more than 80,000 people globally at the end of 2024, joins a growing list of Wall Street firms streamlining operations amid an uncertain economic climate.