Heads Roll at Morgan Stanley by StockJockey Wednesday, October 17, 2007
Many of those affected will learn of the cuts today and will be asked to leave the firm today. While many investment banks cut staff at the end of the year, such moves usually occur after the annual performance reviews—and bonus estimates—in November and December. Morgan Stanley’s last round of job cuts was in 2005.
Yes, some of the folks are being asked to leave today, presumably bonus-free.
Ah, the joys of working on Wall Street. Don’t let the door hit your ass on the way out. Morgan Stanley slashes 300 jobs in the US and Europe
Morgan Stanley owns Saxon Mortgage and is acquiring rights to do billing and collection on home loans from NovaStar