Morgan Stanley lays off 2,500 employees across divisions

US-based investment banker Morgan Stanley has reportedly laid off about 2,500 employees, or roughly 3 per cent of its global workforce, starting in early March, reports have said.

The job cuts are not linked to artificial intelligence-related reforms but stem from shifting business priorities, a revised global location strategy and performance reviews of



employees, according to a report, citing sources.

The reported layoffs span across the bank’s three major divisions such as institutional securities, wealth management and investment management affecting front‑office roles, revenue-generating roles and back‑office positions, though financial advisors are not impacted. Morgan Stanley was yet to comment on the report.