Major layoffs are happening in sales and trading. Dozens of people shown the door so far. Not sure how big the final number is exactly, but it looks like it is not a small round.
My main question is, does anybody know if all affected employees have been notified by now or if there are more notifications that will go out today and tomorrow?
I was laid off recently in Morgan Stanley IT due to "company restructuring", with no direct fault of my own. The official notification for the termination package comes on T+0 same day, and I had 7 days to respond. No further negotiations to stay in the company are possible. There are NO ahead official notifications. But employees might be give hints by your immediate managers about some warning though about 1 month ahead or so, like I was.
Confirmed, it is ongoing even now, cross the Morgan Stanley IT divisions too.
I just got laid off this month due to re-organizations, and I personally know at least 3 other people who had worked directly who were laid off before me.
The layoffs appear to be in waves , several per weeks / month, not big blowup at once.
Confirmed. Got the news today.
Morgan Stanley Said to Eliminate Dozens of Jobs in Annual Review
Jan. 9
(Bloomberg) -- Morgan Stanley dismissed some of its under-performers, with cuts occurring throughout fixed-income, equities and research divisions, according to a person familiar with the matter.
Fewer than 100 people were let go, and the reductions were part of an annual review, said the person, asking not to be identified discussing personnel matters
Morgan Stanley added high-performing talent last year
Business Insider previously reported the reductions
NOTE: Morgan Stanley plans to boost the bonus pool across institutional securities, people familiar with the matter said last month