International investment bank continues to cut staffs in order to reduce costs

Wall Street are entering financial report season in this week, affected by the fixed-income assets lost and weakness in commodities, banks’ financial report is expected to decline in the second quarter. On July 14, , Morgan Stanley announced that it was planning to laid off thousands of employees, according to informed sources quoted by FOX. This was the second big news about cutting off employees from a big Wall Street Company, following Goldman Sachs (Goldman Sachs) international investment bank massive layoffs plan. Morgan Stanley officials also confirmed that agent’s department will lay off about 300 employees and there would be large-scale layoffs in the coming days.

 

Securities Market Weekly

Translated and edited by Peng Bo. He is now a editor of m4.cn. Write to him at pb.bloomberg@gmail.com.

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