Morgan Stanley is planning another round of layoffs in the coming days, finalizing a plan to slash another 5 percent from its securities-firm workforce, or 1,500 employees, CNBC has learned.
People inside Morgan say the cuts will be across all business units, except brokers who make money largely on a commission basis and usually leave on their own when markets drop or business slumps. Morgan Stanley has 46,000 employees, including 8,000 brokers.
"We are constantly evaluating business conditions to ensure we are right-sized and we continue to do that," a Morgan Stanley spokesperson said when asked for comment.
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