Morgan Stanley lays off 2,500 employees, hits wealth management division
Business
Morgan Stanley is letting go of about 2,500 employees—roughly 3% of its staff—even after a record-breaking year for revenue in 2025.
The cuts will hit teams across investment banking, trading, and wealth management, and will affect both US and international offices.
Wealth management division impacted
The layoffs include positions in the wealth management division, including private banking and back-office roles.
This move isn't unique—big names like Goldman Sachs and JPMorgan Chase are also trimming staff lately as banks try to stay efficient during uncertain economic times.