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JAN 10, 2013 - New Statesman

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1,600 jobs go at Morgan Stanley

Latest bank to cut back.Morgan Stanley is about to cut 1,600 jobs in an effort to cut costs. This is about 6 per cent of the total headcount at the targeted section of the bank - the institutional securities group - which raises money for corporate lending and mergers. Here's the FT: Morgan Stanley will begin informing employees affected by the job cull in the coming days and weeks. A large slice of the trimmed positions will include highly paid senior bankers from the ranks of managing directors and executive directors. Pay and bonuses for bankers “comes down because the amount ... Read More

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