Reports that Morgan Stanley is gearing up to cut "several thousand" jobs may have been a little too quick to interpret the giant firm's contingency planning as a done deal.
Morgan is definitely trimming about 300 underperforming reps -- largely younger ones -- from its sales force this quarter.
But speculation about much deeper cuts seems to be jumping the gun a bit.
Morgan's Marie Claire Delaney debunks the idea of broad-based layoffs as simply not on the table right now.
She says the firm is always weighing its payrolls to ensure that it's "right sized," but it's a long way from evaluating scenarios to signing pink slips.
Still, the very notion that Morgan is open to the idea as part of its strategic planning might be where the speculation originally started.
The reporter who broke the story quoted an anonymous source within Morgan. Maybe the discussion got garbled along the way?