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Morgan Stanley, one of the largest in the world investment banksis cutting 3% of its workforce, or approximately 2,500 employees, across all business divisions.
The job cuts affected Morgan Stanley’s three main divisions – investment banking and trading, wealth management and investment management – but not its financial advisors, FOX Business has confirmed.
The reductions were based on business priorities, implementation strategy and individual performance, and the bank plans to add resources in other areas. The layoffs were first reported by the Wall Street Journal.
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Morgan Stanley is cutting about 3% of its global workforce, or about 2,500 employees. (Kiyoshi Ota/Bloomberg via Getty Images / Getty Images)
These layoffs come after Morgan Stanley, which has approximately 83,000 employees. global employeeshad a record year in 2025, recording record annual turnover.
Last quarter, the bank beat profit estimates, largely thanks to a nearly 50% increase in investment banking revenue.
Several US companies have announced significant layoffs this year as they integrate artificial intelligence (AI) in their operations.
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The job cuts at Morgan Stanley affected its investment banking, trading, wealth management and investment management divisions. (Kiyoshi Ota/Bloomberg via Getty Images / Getty Images)
Last week, Block announced it was cutting nearly half of its workforce – more than 4,000 jobs – as the payments company works to integrate AI into all its operations.
CEO Jack Dorsey said the company plans to make a single round of large reductions instead of a series of smaller workforce reductions to give the company more room to grow as it adapts to the AI era.
Investment banking giant Morgan Stanley would cut around 2,500 jobs, or about 3% of its workforce. (Gabby Jones/Bloomberg via Getty Images / Getty Images)
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Amazon also announced a series of recent cuts totaling around 30,000 jobs.
Eric Revell of FOX Business and Reuters contributed to this report.
