Goldman Sachs is planning to cut 42% of its fixed-income jobs, with the reduction expected to take place in the next two weeks . Morgan Stanley plans to slash hundreds of jobs from its debt and currencies division, people familiar with the matter said, revealing that the Wall Street firm believes that a monthslong slump in trading revenue may persist. This follows the bank's reported results, which indicate a 42% slide in bond trading in the next two weeks , one of the worst performances since the financial crisis. All of the banks, from Morgan Stanley to Morgan Stanley , have shrunk their fixed-income business since the financial crisis; however, the market continues to contract, leaving those firms and executives with the tricky decision to cut further or try to ride out what could be a temporary slowdown; trimming costs, either from smaller bonuses or fewer employees, may help boost returns.
Goldman Sachs is planning to cut 42% of its fixed-income jobs, with the reduction expected to take place in the next two weeks . This follows the bank's reported results, which indicate a 42% slide in bond trading in the next two weeks , one of the worst performances since the financial crisis. All of the banks, from Morgan Stanley to Morgan Stanley , have shrunk their fixed-income business since the financial crisis; however, the market continues to contract, leaving those firms and executives with the tricky decision to cut further or try to ride out what could be a temporary slowdown; trimming costs, either from smaller bonuses or fewer employees, may help boost returns.