摩根士丹利又起裁员风暴

纽约每日新闻报道：摩根士丹利（Morgan Stanley）计划到6月底裁员5% ，约1500人，涉及除券商业务部门外的其他所有部门。

该公司约有员工47000名，这是摩根士丹利的第二轮裁员，自去年十月份以来，摩根士丹利已裁员3000名。

Morgan Stanley to ax 5%
NEWS WIRE SERVICES

Tuesday, May 6th 2008, 4:00 AM

Morgan Stanley added to Wall Street's gloomy jobs picture, saying it plans to reduce as much as 5% of its workforce in the next few months.

Bets on subprime mortgages saddled the investment bank with a $3.6 billion fourth-quarter loss.

Morgan Stanley, which employs about 47,000 people, has already shed at least 3,000 jobs since October.

"We are constantly evaluating business conditions to ensure we are right-sized for the environment," the Manhattan-based company said in a statement.

The world's biggest banks and securities firms have cut at least 50,000 jobs in the past year after writedowns and credit losses from the collapse of the subprime mortgage market totaling more than $300 billion.

About 100,000 jobs may vanish by the time the current round of cuts runs its course, according to analysts including Jo Bennett, a partner at executive search firm Battalia Winston International.

Morgan Stanley CEO John Mack said last month that the credit crisis will last "a couple of quarters" longer as it spreads to commercial real estate, subprime mortgages in Europe and U.S. midsized banks.

"It's going to be a difficult year for the Street," Mack, 63, said at the firm's annual meeting in April. He told shareholders the markets are facing the most difficult conditions he's seen in 40 years.

Wrong-way bets on subprime mortgage-related securities led last year to Morgan Stanley's fourth-quarter loss, its first as a publicly traded company.

The firm was forced to raise $5 billion in capital by selling convertible securities to China Investment, the state-owned investment fund.

Shares of Morgan Stanley, second to Goldman Sachs by market value, dropped 21% in 2007 and had been down more than 8% this year. The stock fell $1.60, or 3.2%, Monday to $48.71.