Morgan Stanley is cutting 400 jobs as it attempts to streamline its securities - trading business amid a global downturn in fee structure , with about one job expected to be cut in London . The bank is cutting low - income staff , some of whom were only hired recently , following years of declining profits and insufficient returns . Morgan Stanley reported a 42 % drop in profits in 2013 which led to increased pressure from investors to cut costs .
Morgan Stanley is cutting 400 jobs as it looks to streamline its bond-trading business amid a global downturn in fee income, with about 100 job expected to be cut in London. The bank is cutting fixed-income staff, some of whom were only hired recently, following years of declining revenue and insufficient returns. Morgan Stanley reported a 42% drop in profits in October which led to increased pressure from investors to cut costs.