Posted on 11/03/2022 8:06:53 AM PDT by ChicagoConservative27
HONG KONG – Wall Street major Morgan Stanley is expected to start a fresh round of layoffs globally in the coming weeks, three people with knowledge of the plan said, as dealmaking business takes a hit due to rising inflation and an economic downturn.
In Asia Pacific, the bank has drafted up a list of staff members considered redundant, who will mainly come from teams that focus on China-related business, two of the sources said. All declined to be named as the information is confidential.
Some of the cuts will come from capital markets teams in Hong Kong and mainland China, and most of the rest are expected to be from other teams focusing on China business, both onshore and offshore, the third source said.
One of the sources said the bank’s 30-plus technology investment banking team in Asia Pacific will also be affected by the cuts.
(Excerpt) Read more at nypost.com ...
Dark Brandon. Good one!!
If we can’t be intellectually honest who can be? This has nothing to do with Brandon and everything to do with the CCP takeover of Hong Kong and the American gradual disengagement with China. If Trump were president then this would have probably happened last year.
Furthermore, it’s a good thing. The CCP is breaking apart at the seems and moves like this only help.
The world economy remains tied at the hip.
Zero sum game thinking is just not realistic.
I suspect the major announcements are going to wait until after Nov 8th.
IBM, Intel, Microsoft, Faceplant for sure.
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