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本帖最后由 shoujie 于 2012-7-20 10:47 PM 编辑
Morgan Stanley plans further staff cuts on weak outlook
By Lauren Tara LaCapra
(Reuters) - Morgan Stanley became the latest bank to announce more layoffs to shrink expenses as Wall Street prepares for an extended period of weak global economic growth and low trading and dealmaking volumes.
The investment bank, which posted a sharp drop in second-quarter revenue, expects its payroll to decline by about another 1,000 workers this year to meet a broader target of reducing staff levels by 7 percent from December 2011 levels, Chief Executive James Gorman said on Thursday.
Morgan Stanley is one of several big banks to outline further belt-tightening measures this week when reporting quarterly results. The industry is facing increasing pressure from shareholders to boost profitability as the European debt crisis, companies' reluctance to issue debt and equity, and slow stock and bond trading weigh on revenue.
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