Morgan Stanley Contemplates Laying Off More Brokers

Thursday, June 09, 2011 07:00
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Morgan Stanley Contemplates Laying Off More Brokers

Tags: Morgan Stanley

Attrition seems to be in the cards for Morgan Stanley as the giant firm weighs its desire for broker efficiency over scale. 

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Morgan's CFO is telling Wall Street that she's contemplating reducing broker headcount "below previously announced levels."

 

Over the last few months, Morgan officially trimmed about a net 300 advisors from its payroll.

 

We might see another 300 leave -- or get pushed from -- the firm in the next month or so. 

 

 

 

 

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