March 4 (Reuters) – Morgan Stanley has laid off 2,500 employees across all divisions, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The cuts are affecting employees in the bank’s three major divisions — investment banking and trading, wealth management and investment management — the report said.
Many of the job cuts took place on Wednesday, though they have been occurring since last week, the Journal’s report added.
Morgan Stanley did not immediately respond to a Reuters request for comment. Reuters could not independently verify the report.
(Reporting by Manya Saini in Bengaluru; Editing by Alan Barona)
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