Morgan Stanley: Behind The Massive Job Cuts At The Bank

Morgan Stanley, a leading investment banking firm, is reportedly preparing to reduce its workforce within its wealth management division.

This move is indicative of a larger trend of job cuts across various Wall Street firms that began last year.

The planned layoffs are expected to affect less than 1% of the staff in the division, highlighting the cautious measures companies are taking to manage costs amid uncertainties regarding the U.S.