More importantly, growing fears that the global economy, specifically the US, could be sliding into a recession is weighing down on investment banks, including Morgan Stanley, pushing the need to reduce expenses. The firm\u2019s chief financial officer, Sharon Yeshaya, recently commented that expense management was a priority considering the broader market uncertainty and the high inflation rate.<\/p>\n\n\n\n
More importantly, growing fears that the global economy, specifically the US, could be sliding into a recession is weighing down on investment banks, including Morgan Stanley, pushing the need to reduce expenses. The firm\u2019s chief financial officer, Sharon Yeshaya, recently commented that expense management was a priority considering the broader market uncertainty and the high inflation rate.<\/p>\n\n\n\n
Recent coverage<\/a> by Distributed showed that the US economy might enter into a mild recession in the face of another lending rate hike by the Federal Reserve to tackle the soaring inflation rate. Specifically, the Fed is expected to hike interest rates by a 25 basis, bringing the benchmark borrowing rate to between 5 and 5.25%, a step the economists fear could slow down growth and lead to a mild recession later in the year.<\/p>\n","post_title":"Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"morgan-stanley-to-slash-3000-jobs-amid-market-uncertainty","to_ping":"","pinged":"","post_modified":"2023-05-04 13:04:57","post_modified_gmt":"2023-05-04 03:04:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11435","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Last quarter, the New York-based bank saw its profits drop year-over-year, with a 32% decline in merger advisory and a 22% decline in its equity-underwriting business. Overall, the Wall Street banks have reported minimal Initial Public Offerings among startups amid a bearish market sentiment.<\/p>\n\n\n\n More importantly, growing fears that the global economy, specifically the US, could be sliding into a recession is weighing down on investment banks, including Morgan Stanley, pushing the need to reduce expenses. The firm\u2019s chief financial officer, Sharon Yeshaya, recently commented that expense management was a priority considering the broader market uncertainty and the high inflation rate.<\/p>\n\n\n\n Recent coverage<\/a> by Distributed showed that the US economy might enter into a mild recession in the face of another lending rate hike by the Federal Reserve to tackle the soaring inflation rate. Specifically, the Fed is expected to hike interest rates by a 25 basis, bringing the benchmark borrowing rate to between 5 and 5.25%, a step the economists fear could slow down growth and lead to a mild recession later in the year.<\/p>\n","post_title":"Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"morgan-stanley-to-slash-3000-jobs-amid-market-uncertainty","to_ping":"","pinged":"","post_modified":"2023-05-04 13:04:57","post_modified_gmt":"2023-05-04 03:04:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11435","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
It would be the second consecutive time in quick succession that the investment bank trimmed its workforce after another 2% layoff last December. Part of the reason Morgan Stanley, which currently employs 82,000 people, cited in the recent past, includes a slowdown in mergers and acquisition deals and raising funds for its clients.<\/p>\n\n\n\n Last quarter, the New York-based bank saw its profits drop year-over-year, with a 32% decline in merger advisory and a 22% decline in its equity-underwriting business. Overall, the Wall Street banks have reported minimal Initial Public Offerings among startups amid a bearish market sentiment.<\/p>\n\n\n\n More importantly, growing fears that the global economy, specifically the US, could be sliding into a recession is weighing down on investment banks, including Morgan Stanley, pushing the need to reduce expenses. The firm\u2019s chief financial officer, Sharon Yeshaya, recently commented that expense management was a priority considering the broader market uncertainty and the high inflation rate.<\/p>\n\n\n\n Recent coverage<\/a> by Distributed showed that the US economy might enter into a mild recession in the face of another lending rate hike by the Federal Reserve to tackle the soaring inflation rate. Specifically, the Fed is expected to hike interest rates by a 25 basis, bringing the benchmark borrowing rate to between 5 and 5.25%, a step the economists fear could slow down growth and lead to a mild recession later in the year.<\/p>\n","post_title":"Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"morgan-stanley-to-slash-3000-jobs-amid-market-uncertainty","to_ping":"","pinged":"","post_modified":"2023-05-04 13:04:57","post_modified_gmt":"2023-05-04 03:04:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11435","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Morgan Stanley plans to eliminate 3,000 jobs from its global workforce in the second quarter due to slow deal-making and an uncertain economic environment; sources<\/a> told Reuters on Monday.<\/p>\n\n\n\n It would be the second consecutive time in quick succession that the investment bank trimmed its workforce after another 2% layoff last December. Part of the reason Morgan Stanley, which currently employs 82,000 people, cited in the recent past, includes a slowdown in mergers and acquisition deals and raising funds for its clients.<\/p>\n\n\n\n Last quarter, the New York-based bank saw its profits drop year-over-year, with a 32% decline in merger advisory and a 22% decline in its equity-underwriting business. Overall, the Wall Street banks have reported minimal Initial Public Offerings among startups amid a bearish market sentiment.<\/p>\n\n\n\n More importantly, growing fears that the global economy, specifically the US, could be sliding into a recession is weighing down on investment banks, including Morgan Stanley, pushing the need to reduce expenses. The firm\u2019s chief financial officer, Sharon Yeshaya, recently commented that expense management was a priority considering the broader market uncertainty and the high inflation rate.<\/p>\n\n\n\n Recent coverage<\/a> by Distributed showed that the US economy might enter into a mild recession in the face of another lending rate hike by the Federal Reserve to tackle the soaring inflation rate. Specifically, the Fed is expected to hike interest rates by a 25 basis, bringing the benchmark borrowing rate to between 5 and 5.25%, a step the economists fear could slow down growth and lead to a mild recession later in the year.<\/p>\n","post_title":"Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"morgan-stanley-to-slash-3000-jobs-amid-market-uncertainty","to_ping":"","pinged":"","post_modified":"2023-05-04 13:04:57","post_modified_gmt":"2023-05-04 03:04:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11435","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Morgan Stanley plans to eliminate 3,000 jobs from its global workforce in the second quarter due to slow deal-making and an uncertain economic environment; sources<\/a> told Reuters on Monday.<\/p>\n\n\n\n It would be the second consecutive time in quick succession that the investment bank trimmed its workforce after another 2% layoff last December. Part of the reason Morgan Stanley, which currently employs 82,000 people, cited in the recent past, includes a slowdown in mergers and acquisition deals and raising funds for its clients.<\/p>\n\n\n\n Last quarter, the New York-based bank saw its profits drop year-over-year, with a 32% decline in merger advisory and a 22% decline in its equity-underwriting business. Overall, the Wall Street banks have reported minimal Initial Public Offerings among startups amid a bearish market sentiment.<\/p>\n\n\n\n More importantly, growing fears that the global economy, specifically the US, could be sliding into a recession is weighing down on investment banks, including Morgan Stanley, pushing the need to reduce expenses. The firm\u2019s chief financial officer, Sharon Yeshaya, recently commented that expense management was a priority considering the broader market uncertainty and the high inflation rate.<\/p>\n\n\n\n Recent coverage<\/a> by Distributed showed that the US economy might enter into a mild recession in the face of another lending rate hike by the Federal Reserve to tackle the soaring inflation rate. Specifically, the Fed is expected to hike interest rates by a 25 basis, bringing the benchmark borrowing rate to between 5 and 5.25%, a step the economists fear could slow down growth and lead to a mild recession later in the year.<\/p>\n","post_title":"Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"morgan-stanley-to-slash-3000-jobs-amid-market-uncertainty","to_ping":"","pinged":"","post_modified":"2023-05-04 13:04:57","post_modified_gmt":"2023-05-04 03:04:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11435","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Morgan Stanley plans to eliminate 3,000 jobs from its global workforce in the second quarter due to slow deal-making and an uncertain economic environment; sources<\/a> told Reuters on Monday.<\/p>\n\n\n\n It would be the second consecutive time in quick succession that the investment bank trimmed its workforce after another 2% layoff last December. Part of the reason Morgan Stanley, which currently employs 82,000 people, cited in the recent past, includes a slowdown in mergers and acquisition deals and raising funds for its clients.<\/p>\n\n\n\n Last quarter, the New York-based bank saw its profits drop year-over-year, with a 32% decline in merger advisory and a 22% decline in its equity-underwriting business. Overall, the Wall Street banks have reported minimal Initial Public Offerings among startups amid a bearish market sentiment.<\/p>\n\n\n\n More importantly, growing fears that the global economy, specifically the US, could be sliding into a recession is weighing down on investment banks, including Morgan Stanley, pushing the need to reduce expenses. The firm\u2019s chief financial officer, Sharon Yeshaya, recently commented that expense management was a priority considering the broader market uncertainty and the high inflation rate.<\/p>\n\n\n\n Recent coverage<\/a> by Distributed showed that the US economy might enter into a mild recession in the face of another lending rate hike by the Federal Reserve to tackle the soaring inflation rate. Specifically, the Fed is expected to hike interest rates by a 25 basis, bringing the benchmark borrowing rate to between 5 and 5.25%, a step the economists fear could slow down growth and lead to a mild recession later in the year.<\/p>\n","post_title":"Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"morgan-stanley-to-slash-3000-jobs-amid-market-uncertainty","to_ping":"","pinged":"","post_modified":"2023-05-04 13:04:57","post_modified_gmt":"2023-05-04 03:04:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11435","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Morgan Stanley plans to eliminate 3,000 jobs from its global workforce in the second quarter due to slow deal-making and an uncertain economic environment; sources<\/a> told Reuters on Monday.<\/p>\n\n\n\n It would be the second consecutive time in quick succession that the investment bank trimmed its workforce after another 2% layoff last December. Part of the reason Morgan Stanley, which currently employs 82,000 people, cited in the recent past, includes a slowdown in mergers and acquisition deals and raising funds for its clients.<\/p>\n\n\n\n Last quarter, the New York-based bank saw its profits drop year-over-year, with a 32% decline in merger advisory and a 22% decline in its equity-underwriting business. Overall, the Wall Street banks have reported minimal Initial Public Offerings among startups amid a bearish market sentiment.<\/p>\n\n\n\n More importantly, growing fears that the global economy, specifically the US, could be sliding into a recession is weighing down on investment banks, including Morgan Stanley, pushing the need to reduce expenses. The firm\u2019s chief financial officer, Sharon Yeshaya, recently commented that expense management was a priority considering the broader market uncertainty and the high inflation rate.<\/p>\n\n\n\n Recent coverage<\/a> by Distributed showed that the US economy might enter into a mild recession in the face of another lending rate hike by the Federal Reserve to tackle the soaring inflation rate. Specifically, the Fed is expected to hike interest rates by a 25 basis, bringing the benchmark borrowing rate to between 5 and 5.25%, a step the economists fear could slow down growth and lead to a mild recession later in the year.<\/p>\n","post_title":"Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"morgan-stanley-to-slash-3000-jobs-amid-market-uncertainty","to_ping":"","pinged":"","post_modified":"2023-05-04 13:04:57","post_modified_gmt":"2023-05-04 03:04:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11435","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The investment bank cites a slowing deal-making and uncertainty in the global economy. Part of the uncertainty is the fear ...
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Morgan Stanley to Slash 3,000 Jobs Amid Market Uncertainty
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