My observation of those who got laid off - how they get picked on
Most of them focus ONLY on doing their job. These people might get along well with peers and even their managers as well, but they are not capable of pleasing two levels up. Remember, when your manager's manager nominated you for layoff, most... — read more
fixed income division
Morgan Stanley's cuts hit its already optimized fixed income team https://www.efinancialcareers.com/news/2023/05/morgan-stanley-fixed-income-cuts
Someone here wrote that a lot depends on whether the profit will drop or increase in the coming period. That's true. However, I am not optimistic about it. You?
Determining the number of employees to lay off
It all depends on how much the profit will drop or improve in the next six months. Assume they might need to cut equivalent to 2/3 of the percentage drop in profit one way or another. If last quarter's profit dropped 19%, in theory, some teams have... — read more
Anyone aware of online support groups (networking, resumes etc) crated for the class of '23 layoffs? Discord, etc... Are they even a thing?
does anyone know until when the hiring freeze will be in place? im a consultant and my contract ends next month I was hoping to convert to fte
Buyback, layoff, roadkill - how the real financial system works against workers
https://www.reddit.com/r/WorkReform/comments/13pspfw/how_the_us_financial_system_works_as_explained_by/ This applies to you as well Unionize people - unionize yesterday yer next
What is the culture?
Can someone actually use adjectives to describe the culture of the firm? I joined a few months ago and everyone just keep saying “the culture is great” or “you’re a great culture fit” and I honestly don’t know any words that come to mind that can... — read more
Are the layoffs now over at MS?
Curious if the bloodbath now over. Didn’t see a lot on here about wealth management layoffs
severance package negotiation
There are a lot of good advices here regarding the layoff that just happened this week. Thanks to folks who shared their experiences, advices and feelings. Wonder if any of you (or through your lawyer) negotiated your severance package and what was... — read more
You should have expected this
When it comes to work, I'm always ready for the worst thing that could happen. I don't want to be in a position where something surprises me. When the next round of cuts hits, I won't feel as crushed as my old team did. I'll go with the flow and... — read more
Morgan Stanley cuts a dozen Australian jobs as lay-offs commence
Morgan Stanley has cut approximately 12 jobs within its Australian operations, following a plan to reduce about 3000 positions globally by the end of this... — read more
Very disappointed by Morgan Stanley...
Disappointing that Morgan Stanley is ruining ETRADE. The MS culture of silo'd teams with a singular focus versus ETRADE teams with agile mindsets is starting to affect what can be accomplished. MS let go of some extremely dependable, top-notch... — read more
Looks like we in Internal Audit escaped !
No losses at all? How did we get that? Well played C G-V!
How did it go for baltimore
Quit a month ago
Don't worry guys. You'll bounce back. Next time, read the room, and don't get caught with your pants down.
is it done yet???
It's past 1 PM, and I'm still here... is it time to celebrate or fear what may happen tomorrow... Sigh !?!?!?!?
Got away today but I'm done
So many professional and decent people caught up in this. It's unacceptable. I am done. CV sent.
It has started
Good luck, all!
Anyone got any news yet?
The anticipation is painful
Former ETFC site in Alpharetta?
As Morgan Stanley's layoffs begin, here's who's safe and who's not
The long awaited event appears to be unfolding. Morgan Stanley isn't responding to requests to comment, but multiple sources say that this is the week that the bank has tabled its cuts and that today is the day they are... — read more
My experience just to cheer up everyone here
I was ED in MS and got laid off recently after almost 22 years. I started applying for a new job, only to find that there were not that many openings. So I applied to VP positions as well in desperation. I knew how much the VPs in my team were... — read more
I've had it!
After 8 years here I’ve had it – I am ready to move on and no amount of money or bonuses can change my mind. My immediate group is very good but I am doing a lot of cross-team work and that’s exhausting as we are all siloed and each team has their... — read more
This LinkedIn post assumed that managers put company interest above personal preferences
https://www.linkedin.com/feed/update/urn:li:activity:7063836699428106241/ Managers don't care about costs: it's paid by MS, not by the managers. Managers care about personal obedience and loyalty: If they don't like someone, it doesn't matter to... — read more
I wish I was so optimistic
Every day I hear a lot of encouraging stories from people who say they are much better off since they left this company and, similarly, those who say there are many opportunities on the job market for people with skills... All I can say is that... — read more
What happens after Wednesday?
I'm so tired of not knowing when the layoffs will stop.
Naïve question: how do MS HR and hiring managers view job applicants laid-off by MS?
(A) They are losers. There must be a reason they got laid off last time. No hire! (B) I'll objectively review the skill sets and experience to evaluate whether it's a fit. (C) Worked in MS before? and with relevant experience? Let me interview... — read more
Any word on Wealth Management Operations?
Lot of rumblings going on
When are they announcing the layoffs for strats and tech?
Heard it's this week. Anyone knows when exactly?
Thread for severance details
(1) On the severance document, they listed some people as "Population Not Selected for Severance Benefits Offered". The list includes both FTE and Temp, only titles and ages, no names. Not sure whether it's fictional (how dare they do it?). Even... — read more
James Gorman stepping down within the year
https://www.nytimes.com/2023/05/19/business/james-gorman-morgan-stanley-ceo.html He’s part of the RIF?
Reverse discrimination ?
Has anyone noticed a reverse discrimination pattern in their area for layoffs? Seems to be Caucasian and Asians mostly. Almost no minorities. Curious as to what’s up in your area.
Wealth mgmt gets less severance
Seems those cut by wealth management are getting less severance than other areas. Others we hear are getting 3 weeks per year at firm, wealth is giving 2.
6 Signs to realize your head is on chopping board
(1) You are in office, and the phone rings, exhibiting it's from a meeting room. (2) You usually do not go to office on Tuesday or some other day, but your manager asked "would you mind to have a catch up on Tuesday (or XXXday)?" (3) Your manager... — read more
What to expect on the day
Do you get a last minute call from HR? How does it work for those who are wfh?
Anyone know how baltimore will be affected?