Morgan Stanley Plans More Layoffs

New York Times:

Morgan Stanley said Wednesday it would cut 10 percent of the staff in its institutional securities group and 9 percent of its asset-management group, as the Wall Street firm takes steps to weather the financial crisis and remake itself as a bank holding company.

The layoffs, mentioned at a financial services conference Wednesday, would be in addition to the thousands of jobs cuts that Morgan Stanley has already announced since the summer of 2007, when the mortgage crisis flared and the credit markets began to seize up, Reuters said.

Read the whole story: New York Times

Comments

[LORISNJ]

sorry wrong post

[LORISNJ]

These are the 20,000 Americans who avoided paying $300 million in taxes on $20 billion in profits - these are the ones that the Republicans don't want Obama to raise their taxes - these un-Americans don't even want to pay their reduced taxes. Sweet!

The party is over for billionaires, maybe if you pay your fair share for awhile our economy can get back on track, until then your trust fund babies will have to settle for just being filthy rich instead of obscenely rich.

[darthdarcy]

This is bonus consolidation...!

Simple as that..

[mrcontinental]

More republicans on the street... oh well.