Three well-informed sources told Reuters the bank is expected to start Morgan Stanley A new round of layoffs will take place in the coming weeks as trading activities are hit by rising inflation and economic stagnation.
In the Asia Pacific region, two sources said the bank has compiled a list of staff it considers redundant, most of whom come from teams focused on China-related business.
The sources refused to disclose their identities due to the confidentiality of the information.
The third source explained that some of the layoffs will affect capital markets teams in Hong Kong and mainland China, and most other jobs to be cut are expected to come from business-focused teams in China, both at home and in China. in China. abroad.
The three sources said job cuts in the Asia-Pacific region would exceed the annual decrease in the number of bank employees following retirement or resignation, adding that a final decision on the extent of the layoff has not yet been made. taken.
They added that layoffs around the world would occur around the same time.
A fourth source said the bank had not yet made decisions on the extent or timing of any layoffs, adding that layoffs were not imminent. He added that any cuts would represent a small percentage of employees globally.
Morgan Stanley declined to comment. According to the disclosure of the company, the number of its employees reached 81,567 worldwide at the end of the third quarter.
With the prospect of closing deals or financing less deals, some investment banks are going further with plans to cut jobs.
