Morgan Stanley cuts jobs amid ‘economic uncertainty’
Photo of a Morgan Stanley building. (Provided Photo)
(CNN) — Morgan Stanley is ending the year by cutting hundreds of jobs.
The cuts are being blamed on concerns about economic uncertainty around the world, according to a source familiar with the matter.
The cuts represent more than 2% of the bank’s workforce. Sources say the layoffs will hit technology and operations roles hardest.
The cuts were first reported by CNBC.
Morgan Stanley officials have declined to comment.