Posted on 12/08/2015 8:00:08 AM PST by SeekAndFind
The news on Morgan Stanley's job cuts continues to roll in.
The US bank is cutting 1,200 staff, including about 470 front-office staff in its fixed income and commodities business, according to Michael J. Moore at Bloomberg, who cited a person briefed on the matter.
Mark Lane, a spokesman for the bank, said the bank would take a $150 million charge in the fourth quarter, according to the Bloomberg report.
Business Insider reported Monday that emerging markets sales and trading was one of the areas hardest hit by the cuts.
(Excerpt) Read more at businessinsider.com ...
No big deal the economy can bare it because obamanomics dictates there is only 5% unemployment and Zero inflation.
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