Morgan Stanley cuts 2,500 jobs — 3% of global workforce: report

Group 1 - Morgan Stanley is cutting approximately 3% of its global workforce, equating to around 2,500 jobs, across its investment banking, trading, and wealth management divisions [1][2] - The bank reported record revenue in 2025, driven by a revival in dealmaking, increased market volatility benefiting trading desks, and spending from wealthy clients [2][4] - The wealth management unit, which accounts for nearly half of Morgan Stanley's income, experienced a 13% increase in fourth-quarter revenue [2] Group 2 - Layoffs have begun and will affect both US and international offices of Morgan Stanley [1] - Other Wall Street firms, including Goldman Sachs and JPMorgan Chase, have also implemented job cuts as part of efficiency initiatives, including the adoption of AI [3] - The trend of job cuts among major corporations highlights a broader cost-cutting strategy in a volatile economic environment [5][6]