Previously it was Credit Suisse and Citigroup. Now it is Morgan Stanley's turn, as 580 employees in the firm's three New York office learn they are about to get the boot courtesy not of the HR department but the DOL's WARN website, which just happens to be the best real-time indicator for observing the transition of the soon to be former 1% into the 99%.
From WARN:
Date of Notice: 12/27/2011
Control Number: 2011-0193
Rapid Response Specialist: Linda Foehr
Reason Stated for Filing: Plant Layoffs
Company:
Morgan Stanley (Various NYC sites)
1221 Avenue of Americas
New York, NY 10020
County: New York | WIB Name: NEW YORK CITY| Region: New York City
Contact: Eric Kayne, Human Resources
Phone: (212) 762-9804
Business Type: Financial services
Number Affected: 580 in all locations
Total Employees: -----
Layoff Date: Rolling layoffs beginning on 12/15/2011
Closing Date: -----
Reason for Dislocation: Economic
ERNUM: -----
Union: -----
Classification: Plant Layoff
Other Morgan Stanley locations affected:
1 New York Plaza, New York, NY
1585 Broadway, New York, NY
750 Seventh Avenue, New York, NY