Morgan Stanley is reducing its global workforce by approximately 2,500 employees. This reduction represents about 3% of the bank's total headcount. The layoffs affect all three primary divisions: institutional securities, wealth management, and investment management.
The firm reported record revenues in 2025, indicating the cuts are not a response to financial distress. Management instead attributed the decision to evolving business priorities, location strategy, and individual performance reviews.
The move impacts both front- and back-office positions across the firm. Financial advisors are excluded from the workforce reductions.