Morgan Stanley lays off 2,500 employees, AI to blame
Morgan Stanley just let go of 2,500 employees, about 3% of its global team, mainly across investment banking, trading, and wealth roles.
Front-office financial advisors weren't affected.
This follows earlier defensive layoffs (date not specified in source).
AI's role in job cuts
Insiders say many of these cuts are thanks to artificial intelligence making back-office work more efficient.
The bank recently rolled out ChatGPT tools in wealth management.
Interestingly, even with fewer people, Morgan Stanley's investment banking revenue jumped 47% in late 2025.
Other companies are also making similar moves
Morgan Stanley isn't alone: other big names are swapping humans for AI too.
Block (CEO Jack Dorsey) said it cut more than 4,000 jobs (nearly half its workforce) as it embeds AI.
Looks like automation is the new normal on Wall Street, even as profits keep climbing.