Morgan Stanley (MS) Axes China Unit Staff Amid Market Failure

Morgan Stanley (MS) has axed 9% of its employees at its asset management business unit in China as part of its broader plans to stay defensive amid the nation’s economic slowdown and market uncertainties. The news was reported by Reuters, citing two people with direct knowledge of the matter.The job cuts started in December 2023. These have impacted almost 15 of Morgan Stanley Investment Management China’s employees to date.This is the first time that MS has reduced headcount in its China fund unit since bu ...