Job losses at unprecedented numbers: Over 200 employees set to be let go by June 17; not from Narayana Murthy's Infosys, Google, Microsoft, or Ratan Tata's TCS, but from this unnamed firm instead.
Morgan Stanley Slashes Over 200 Jobs in NYC: Here's Why and What's Next
Chop, chop! It's another round of layoffs in town, and this time, Morgan Stanley, the global juggernaut in financial services, has joined the party. They're pulling the axe on around 230 employees across seven offices in the Big Apple.
Fancy a trip down job-cut memory lane? Well, fasten your seatbelts because bigwigs like Google, Microsoft, Infosys, IBM, and now Morgan Stanley have all taken a swing at the pink slips. But hey, don't ya worry! This is the new normal, baby!
Why the heck is Morgan Stanley dicing up its workforce? Well, it's simple – they're looking to trim costs and reshuffle their team members, all thanks to the Qix-and-Scroll market conditions and policy fuzziness. These cuts form part of a larger global bloodletting effort, estimated to slash around 2,000 roles across the company, except for the financial advisers.
So, when exactly will this culling frenzy commence? Roll up your sleeves and mark your calendars, because June 17, 2025, is the day of reckoning. Goldman Sachs and Bank of America have already followed suit, tightening their belts to fit the current biz climate.
But as for the potential fallout for Morgan Stanley, well, it's tantalizingly elusive at the moment. The affected departments and roles remain under wraps, leaving us all in eager anticipation. With over 80,000 employees at the end of 2024, this round of cuts amounts to approximately 2-3% of the total staff.
critics' corner has come alive, with legal eagles at Sanford Heisler Sharp McKnight sniffing around potential legal claims. The firm is conducting a thorough investigation into alleged wrongful termination, discrimination, retaliation, and potential violations of the Worker Adjustment and Retraining Notification (WARN) Act. They're now offering a lifeline to employees who suspect their rights are at risk during this layoff time.
Curious cats (and I know there are plenty of you out there) will be waiting with bated breath for Morgan Stanley to spill the beans on the specifics of this downsizing. However, further details are expected to surface as the implementation date draws near.
From our corner, we'll keep you posted, so stay tuned!
Keywords:- Morgan Stanley- layoff- job cut
Enrichment Insights:The layoff of 230 employees by Morgan Stanley is part of a broader effort to reduce costs and cut at least 2,000 employees globally from its workforce, amounting to a 2.5% reduction in headcount. The layoffs were announced in June 2025, with notices filed under the Worker Adjustment and Retraining Notification (WARN) Act. This round of cuts follows similar staff reductions at other major financial institutions such as JPMorgan Chase and Goldman Sachs, suggesting a sector-wide response to the challenging economic conditions and uncertainty affecting the broader economy.
Amidst the ever-challenging economic conditions, Morgan Stanley, a renowned name in India's Bollywood of finance, joins the roster of businesses tightening their belts. As part of a global effort to streamline operations, the company plans to cut around 2,000 roles, including the recent announcement of 230 job cuts in New York City. This staggering reduction represents approximately 2-3% of their total workforce.
