Morgan Stanley is planning to cut up to 25% of its fixed-income jobs, with the reduction expected to take place in the next two weeks. Morgan Stanley could eliminate as much as a quarter of the business’s workforce, the people said Monday. This follows the bank's reported results, which indicate a 42% slide in bond trading in 3Q 2015, one of the worst performances since the financial crisis. The bank has also announced plans for an additional $450 million charge on top of that reduction, bringing total costs associated with the cuts to $1.7 billion.
Morgan Stanley is planning to cut up to 25% 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 3Q 2015, one of the worst performances since the financial crisis. The bank has also announced plans for an additional $450 million charge on top of that reduction, bringing total costs associated with the cuts to $1.7 billion.