Morgan Stanley Bank, one of the largest banks in the United States plans to lay off about 3,000 employees by the end of June, according to the Financial Times. This decision was made as part of the bank's strategy to reduce costs and optimize operations. The publication clarifies that the bank's management intends to reduce the staff by about 5%. Most of the layoffs are expected in the investment banking and securities divisions.
Morgan Stanley's decision to lay off employees is not unique in the banking industry. Many banks have experienced declining profits and increased competition in recent years, leading to cost-cutting measures, including layoffs.
Experts will need to analyze how the layoffs will affect Morgan Stanley's operations and financial performance. Nevertheless, the bank's management is likely to hope that these measures will help improve efficiency and profitability in the long term.
— American financial conglomerate, the second largest commercial multinational corporation in the United States and the 34th largest in the list of largest banks of the world. The main activities are mergers and acquisitions, placement of shares and bonds, trading on stock and other exchanges, asset management. Since 2011, it has been one of the globally systemically important banks. Main headquarters in New York.