Morgan Stanley (MS) Seeks Job Cuts in Its Wealth Management Unit

Morgan Stanley (MS) has planned to lay off hundreds of workers from its wealth management (WM) division, a move that is expected to impact less than 1% of the unit’s employees. The news was first reported by the Wall Street Journal, citing a person with knowledge of the matter.The move comes as the investment banking giant, like several other Wall Street firms, seeks to reduce costs amid economic uncertainty and concerns regarding the trajectory of interest rate cuts by the Federal Reserve.Morgan Stanley ha ...