12/9/2019, 8:12 PM (Source: TeleTrader)
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Report: Morgan Stanley slashing 2% of its workforce

American investment bank Morgan Stanley is reportedly firing 2% of its employees due to uncertain economic outlook, the sources familiar with the situation said.

The sources told CNBC that equities trading giant will fire mostly people in technology and operations roles. As of September 30, the firm had 60,532 employees.

In October, the bank posted its earnings for the third quarter, with top line beating Wall Street expectations. Revenue rose 2% to $10 billion on an annual basis while net income amounted to $2.2 billion, 3% higher than in the same period a year ago.

Breaking the News / TF