MORGAN STANLEY LAYOFFs JOB CUT: MORGAN STANLEY TO CUT nearly 1900 JOBS

Morgan Stanley Job Layoff

Morgan Stanley plans to cut about 1880 jobs, which is about 4% of its total workforce of about 47 thousand employees.

Details of Morgan Stanley Job Layoffs

from Reuters:

The cuts will mostly be in back-office jobs, which entail processing trades, since it trimmed front-office traders and bankers last year, the source said, adding that none of the cuts will come from the bank's network of financial advisers.

Reasons for Morgan Stanley Job Cuts

The job cuts is part of a cost cutting exercise. The bank reported a quarterly loss of $2.2 billion in December 2008.