MS in transition, more to com

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Sep 11, 2006 6:18 pm

Looks like more cuts are coming down to support staff and operations. The rumor is that no brokers will be cut, but expect a cut in pay for brokers south of 300k

Sep 11, 2006 6:24 pm
Elvis:

Looks like more cuts are coming down to support staff and operations. The rumor is that no brokers will be cut, but expect a cut in pay for brokers south of 300k


Odd that MS would do that when we hear that LPL can be profitable on guys doing 125--even though I said that if you're not doing 300 you're a loser to your firm.

Sep 11, 2006 7:45 pm
Elvis:

Looks like more cuts are coming down to support staff and operations. The rumor is that no brokers will be cut, but expect a cut in pay for brokers south of 300k


What is this comment being based on?

Sep 11, 2006 7:56 pm

HAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!!!

Sep 11, 2006 8:02 pm
iconsult100:
Elvis:

Looks like more cuts are coming down to support staff and operations. The rumor is that no brokers will be cut, but expect a cut in pay for brokers south of 300k


What is this comment being based on?



The usual, meaning nothing....

Sep 12, 2006 9:04 am
Elvis:

Looks like more cuts are coming down to support staff and operations. The rumor is that no brokers will be cut, but expect a cut in pay for brokers south of 300k



I think that has been common knowlwdge for some time. That is exactly what they said they were going to do. Do you have any specifics?

Sep 12, 2006 9:16 am

Why do you suppose Morgan Stanley is laying off operations types?


Could it be that they're getting lean and mean in order to survive the coming bear market?


You betcha Red Ryder.

Sep 12, 2006 9:35 am
NASD Newbie:

Why do you suppose Morgan Stanley is laying off operations types?


Could it be that they're getting lean and mean in order to survive the coming bear market?


You betcha Red Ryder.



Yeah that must be right because all of a sudden wirehouse managers and market strategist have suddenly become adept at predicting market trends.

If in fact they are cutting back operations personnel with this rationale, I would submit that it is a contra-indicator(if that is a word) perhaps signalling that we are nearing the END of the bear market which has lasted since 1999-2000!

Sep 12, 2006 10:33 am

Elvis, what makes you say it looks like more support staff and operations cuts? they just rearranged a few people in IT, but beyond that I haven't heard anything.

Sep 12, 2006 1:01 pm

Joe is right, I remember being recruited heavily in summer 2000 for a new complex they opened in the N/E. It has since been shut down and the brokers were sent to city or suburban offices. (shut down in October 2002, great timing!!)

Sep 12, 2006 2:17 pm

i don't there will be cuts at that level, i think the penalty box will be raised from its current level