Morgan Stanley To Lay Off Several Hundred In Wealth-Management Division; Layoffs Amount To Less Than 1% Of Wealth-Management Staff
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley plans to lay off several hundred employees in its Wealth-Management division, which constitutes less than 1% of the division's staff, according to the Wall Street Journal.

February 14, 2024 | 6:53 pm
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Morgan Stanley is set to reduce its workforce in the Wealth-Management division by several hundred, impacting less than 1% of the division's employees.
Layoffs, especially in a significant division like Wealth-Management, can lead to short-term negative sentiment among investors due to concerns over the reasons behind the layoffs, such as cost-cutting due to decreased profitability or strategic realignments. However, since the layoffs affect less than 1% of the staff, the long-term impact might be minimal, but the initial reaction is likely to be negative.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100