Morgan Stanley is cutting jobs due to uncertain global environment: Sources
In October, the bank posted third-quarter profit and revenue figures that. The company produced $10.1 billion in revenue, exceeding analysts' average estimate by approximately $500 million.
During the post-financial crisis era marked by declining trading revenues, Wall Street firms often cut jobs towards the end of the year to avoid paying out bonuses. Morgan Stanley is the first known instance of this, but other firms will likely announce cuts as planning for 2020 continues.Banks
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