Not sure if this is will be widespread or if its a nothing burger but it's worth noting. The missing ingredient for a good recession is employment. Construction and manufacturing were already limping. Job layoffs usually help stock prices as it reflects a commitment to cost cutting but it can also be a red flag signaling impending woes. Stay positive people.
Plan for the worst but expect the best.
The layoffs come at a time of the year when it is common for Wall Street to cull some underperformers and trim staff as part of annual reviews.
The cuts also come at a time when hopes for an IPO bonanza and dealmaking boom in the first year of the new Trump era are being put to the test due to uncertainties surrounding the Trump administration’s trade policies.
Morgan Stanley is planning to cut around 2,000 workers by the end of the first quarter, according to a person familiar with the matter.
The reductions will affect front-office and back-office employees across all units. They won’t include Morgan Stanley’s army of 15,000 financial advisers, but the layoffs will affect some people working for the advisers in support functions.
The person familiar with the moves said they are part of the bank’s ongoing process to assess its resource needs based on its business priorities, location strategy and employee performance globally.
For a dude who claims to have enormous gonads, you sure do whine a lot.
You seem like a good guy who's had a lot of personal success. This restructuring might not be great for you personally right now, in the short term, but seems like the right correction for a country wildly out-of-control.
I work in management consulting for K-12 education. You wanna talk about freaking out? You have 14,000 public school districts right now wondering what's gonna happen with their Federal funding for Special Ed and Title programs.
I'll tell you what's gonna happen - the 10% of the funds they receive from the Feds will go directly to the states and eliminate about 50% of the headaches (reporting, disputes, lawsuits). As long as local control of those funds is managed well.
States like WI, TX, ID, CT, and FL will thrive. CA & others will spend their time whining and fighting and complaining and will continue to do miserable.
Grab ahold of those massive cajones and know that this correction is badly needed, and it's going to be painful.
Job losses are Government workers and Foreigners. This is a good thing.
Manufacturing jobs are up.
Funny we never heard you complain about Joe not creating a single, domestic, full time, non-govt job in 4 years.
Eggs are down
Oil is down
Gas is down
Inflation is down
Your fake doom and gloom is annoying
This will be a 2 year process for the tariffs, which were badly need (aka newly negotiated deals) to take hold. Restoration of the middle class is essential and the last time it controlled the country was the 70's. Manufacturing has to return. Now the deficit is unsustainable and the work being done now is a good fist step. Someone had to rip the band-aid off. Also, have you ever seen a more ignorant governor that Walz?
Oh noes 2000 telemarketers are being transferred to car warranty sales. Whatever will we do?
my guess is that like their obsession with the price of eggs, there will be a huge legacy media spotlight on any layoffs even if they are an annual cull or longtime coming staff adjustment
they insist on hosing their audience with negative economic information of all forms because of the President. Just like under the virus, they are really hoping the economy crashes.
balancing information is that government spending has not yet been cut, but only paused in certain agencies, and Congress passed a spending bill in the form of a CR that is exactly the same sized budget as the one signed by Biden for 2025
and, February showed a net increase in jobs despite any Federal furloughs or administrative leaves to date
furthermore, most 'terminated' Federal employees will continue to be paid at least through Sept 30 or longer if retired
YMMV