Morgan Stanley Layoffs Job Cut: fires 2000 more employees

Wall Street major investment bank Morgan Stanley, which has been in the news recently for several rounds of layoffs have to decided to go for another big round of Morgan Stanley Lay offs or Morgan Stanley Job Cuts. Unfortunately the situation is worsening. The economic crisis is hitting all sectors and financial sector being the front runner in the suffers list.

How many employees may be fired by Morgan Stanley layoffs?
The news is that around 2,000 employees may be asked to leave their jobs at Morgan Stanley. These will be additional to 5400 employees fired in the year 2008 by the firm.

How many employees does Morgan Stanley have?
The total no. of employees till 2008 was about 49,600 employees. But it is reported that the company has laid off more than 10,000 workers since mid 2007

Which departments will be affected by the Morgan Stanley Layoffs?
Thie 2000 strong layoff will mainly affect the back-office employees.

How much savings can be made by Morgan Stanley Layoffs?
No information is there about this latest 2000 job cut saving, but the last year's job cuts would reduce the company’s compensation costs by $1.2 billion this year.

When will the Morgan Stanley layoffs happen
No information is available about the dates of Morgan Stanley layoffs.

What are the primary reasons of Morgan Stanley Layoffs
The worsening global economy means that there is a decline in sales and businesses and hence loss of revenue for Morgan Stanley.

Any other news about Morgan Stanley?
As per InvestmentNews,Morgan Stanley’s chief financial officer, Colm Kelleher, said at an investors conference on Jan. 28 that last year’s layoffs would reduce the company’s compensation costs by $1.2 billion this year. He did not address additional cuts, but said the investment bank is making significant budget cuts, over and above payroll, in marketing, professional services, and brokerage and clearing.

The previous layoffs and the next round will not affect advisers in Morgan Stanley’s global wealth management group, the source said.
Let's hope that alternative jobs are available to the affected employees of Morgan Stanley Layoffs Job Cut