Finance
Morgan Stanley Weighs Cutting 7% of Asia Investment Bank Jobs
- Bank may cut over 40 bankers in region, mostly China focused
- Staff may be notifitied this week; final decisions pending
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Morgan Stanley is considering a 7% cut in its Asia-Pacific investment banking workforce, with China taking the biggest hit as deteriorating relations with the US and weaker economic growth curb dealmaking, people familiar with the matter said.
The bank is likely to start communicating with affected bankers as soon as this week, with more than 40 jobs at risk, including those with the capital markets unit, one of the people said, asking not to be identified because the matter is private. Other divisions may also be slightly affected, the people said, adding a final decision on the number of job cuts hasn’t been made.