New York, March 19: Morgan Stanley, a US-based investment giant, will reportedly reduce its global workforce by cutting thousands of jobs. Morgan Stanley layoffs will affect 2,000 employee. The job cuts will start by the end of March and will affect 2% to 3% of the total workforce of the Wall Street giant. According to the reports, the layoffs will improve the company's overall efficiency.

The New York-based bank employed around 80,000 employees by the end of 2024, and the job cuts would likely leave it at around 78,000 when implemented. The reports suggested that the upcoming workforce reduction would be announced due to Morgan Stanley's market conditions. They also hinted that the Morgan Stanley layoffs would not affect the financial advisers. Amazon Layoffs: E-Commerce Giant To Lay Off up to 14,000 Employees Globally To Save Billions, Limit Hiring in Early 2025.

Morgan Stanley recently suffered a market slump on Wall Street, but the reports mentioned that the job cuts would be implemented based on employee performance. It is also expected that the layoffs may be based on changes in the operational location where the bank based its workers. As per the reports, the decision would be announced amid Wall Street institutions adjusting their staff levels due to economic uncertainty.

Besides Morgan Stanley, other banks already took similar measures as US President Donald Trump imposed new tariffs. The reports said that the fluctuating trade policies would likely affect the optimism related to the anticipated resurgence in the capital market amid the re-election of Donald Trump. The mergers and acquisitions also slowed down along with equity offerings due to uncertainty around tariffs. Intel Layoffs Coming? New CEO Lip-Bu Tan May Announce Job Cuts To Streamline Operations Amid Financial Struggles and AI Competition, Say Reports.

Morgan Stanley co-president Daniel Simkowitz also highlighted during a recent conference that certainty was on pause, and the bar was high due to policy uncertainty. The investment banking giant reported net revenues of USD 16.2 billion in Q4 2024, which was higher than the same quarter of the previous year when it reported USD 12.9 billion.

(The above story first appeared on LatestLY on Mar 19, 2025 07:18 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).