Morgan Stanley Co-President Says Bank Will Book Severance Charge In Q2 After Job Cuts
Portfolio Pulse from Happy Mohamed
Morgan Stanley will book a severance charge in Q2 following job cuts, according to the bank's Co-President. The move is expected to impact the bank's financial performance.
May 31, 2023 | 6:58 pm
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Morgan Stanley's Q2 financial performance may be negatively impacted by a severance charge due to recent job cuts.
The severance charge in Q2 is a direct result of job cuts at Morgan Stanley. This will likely have a negative impact on the bank's financial performance for the quarter, as severance charges are an expense that reduces net income.
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