The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
United States + UK + other countries in Europe and Asia
Sector
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
1,600 jobs Number of planned job losses
Announcement Date
9 January 2013
Employment effect (start)
16 January 2013
Foreseen end date
31 March 2013
Description
On 9 January 2013, Morgan Stanley, a global financial service firm, announced plans to lay off 1,600 employees during the first quarter of 2013. Around half of the 1,600 jobs will be cut in the United States, with the second half from its global workforce. Positions will essentially be cut in the institutional securities unit (which will lose 6 per cent of its workforce) as well as investment bank activities and related support staff. In the past years, the bank had made a number of job cuts: 4,400 jobs in 2008 (see related Morgan Stanley 2008) and 1,600 in 2012 (see related Morgan Stanley 2012).
Eurofound (2013), Morgan Stanley, Internal restructuring in World, factsheet number 74767, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74767.
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