Investing to Wealth

Filed under: Employees, Morgan Stanley (MS)

Morgan Stanley (NYSE: MS) may cut 5% of its workforce. Given the drop-off in investment banking activity and asset management, the number may not be high enough, but it is a start. Wall Street is still worried about the bank's future, as its stock price shows. Shares change hands at $21, down more than 50% during that last year. Morgan is doing better than some other companies in its sector, but the deepening recession could hurt earnings more than last year.

According to The Wall Street Journal (subscription requited), "The New York firm, which let go of about 7,000 employees last year, may decide on another round of staffing cuts in the next two weeks."

Continue reading If Morgan Stanley (MS) cuts jobs, stock may rise

If Morgan Stanley (MS) cuts jobs, stock may rise originally appeared on BloggingStocks on Fri, 30 Jan 2009 10:00:00 EST. Please see our terms for use of feeds.