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Morgan Stanley started cutting jobs in the UK

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Up to 350 jobs will likely be gone...

The US investment bank began cutting jobs on Wednesday, with the process expected to take some weeks as Morgan Stanley continues to restructure. Between 150 and 200 employees have already lost their jobs.

News that Morgan Stanley would cut about 5pc of its workforce, or 1,500 globally, surfaced earlier this month but most of the sackings were expected to come in the US.

The speed and scale of the cuts in London have taken some Morgan Stanley insiders by surprise.

Morgan Stanley aims to axe 350 London jobs - Daily Telegraph

May 16, 2008 in Credit Crunch, Morgan Stanley, Revolving Door |

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