- The cuts in the departments are tied to shifting business and location priorities, as well as individual job performance, and will be across locations both in the U.S. and abroad.
- The report noted that while most of the job cuts took place on Wednesday, they were part of ongoing layoffs that had begun in the previous week.
- Private bankers and back-office staff positions are included in layoffs in the wealth management division.
Morgan Stanley is reportedly laying off around 3% of its workforce or about 2,500 of its employees.
The Wall Street Journal reported, citing people familiar with the matter, that the cuts are affecting employees in the bank’s three major divisions — investment banking, wealth management, and investment management
The cuts in the departments are tied to shifting business and location priorities, as well as individual job performance, and will be across locations both in the U.S. and abroad.
Further Details
The WSJ report noted that while most of the job cuts took place on Wednesday, they were part of ongoing layoffs that had begun in the previous week.
The layoffs come shortly after Morgan Stanley reported fourth quarter results last week, posting revenue and profit increases on the back of strong growth in investment banking and wealth management.
Private bankers and back-office staff positions are included in the layoffs in the wealth management division.
Last week, Jack Dorsey’s fintech platform Block disclosed its plans to cut nearly half or 4,000 employees citing AI models as a main reason.
Move Into Bitcoin ETF
Morgan Stanley Bitcoin Trust intends to hold its bitcoin with both Coinbase and BNY. According to a form S-1 filed with the U.S. Securities and Exchange Commission, BNY will act as an administrator and cash custodian, while Coinbase will serve as co-custodian.
The Trust will operate as an exchange-traded fund and be organized as a passive investment vehicle, aiming only to mirror bitcoin’s price rather than pursue additional returns through derivatives or leverage, the company stated.
How Did Stocktwits Users React?
Retail sentiment around MS stock trended in ‘bearish’ territory amid ‘low’ message volumes.
The company’s stock has fallen 6.1% so far in 2026.
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