Morgan Stanley is planning to cut about 2,000 employees later this month across the firm, except for its financial advisers. The move is aimed at keeping a lid on costs as executives grapple with minimal attrition in their ranks amid an uncertain economic outlook. The cuts are tied to performance, changes in worker bases, and the impact of artificial intelligence and automation, with more job reductions expected in the coming years due to automation. Also Citigroup Inc. cut payouts to hundreds of top executives in the final round of a three-year special bonus program that tied their compensation to the bank's progress on risk and regulatory matters. The "Transformation Bonus Program" paid out 68% of the target for 2024 to about 250 senior employees, compared with 94% for 2022 and 80% the following year. Bloomberg's Todd Gillespie reports