Morgan Stanley support layoffs
That can't be welcome news. 1,000 people in wealth management support, operations and tech? I thought wealth management was the strongest division, earnings and profitability-wise, in the last quarter. What do you all think?
Next to go with be the guys under 300K like it was mentioned among management a year ago.
Next to go with be the guys under 300K like it was mentioned among management a year ago.[/quote] You mean that rumor again? Doubtful, the number of FAs would be too great, probably 1/3 or more of the whole. The last cut, over LOS 12 (memory here) and under $225k took, what, 1000 people? Perhaps if they limited it to fairly senior LOS types....
We’ve been hearing how well our division is doing & now it seems like we get penalized for all the losses from the trading side.
I did hear a rumor that under 300k need to get going.
Maybe just doing some of the dirty work before our new Wealth Management President gets started.