Bad news for employees, this company to lay off over 200 staff by June 17; not Narayana Murthy’s Infosys, Google, Microsoft, Ratan Tata’s TCS, it is...

Job cuts and layoffs are very common these days, with big companies like Google, Microsoft, Infosys, and IBM conducting layoffs. Now, another name has been added to this list, Morgan Stanley, a global financial services firm providing a wide range of investment banking, securities, wealth management, and investment management services. Morgan Stanley is set to lay off approximately 230 employees across seven offices in New York City. 

Why Morgan Stanley is fireing it's employess?

Morgan Stanley's lay off is a part of the firm's broader strategy to reduce costs and adjust staffing levels in response to fluctuating market conditions and policy uncertainties. These layoffs are part of a larger global job reduction effort estimated at around 2,000 roles across the company, excluding financial advisers.

When this layoff will take place?

The layoffs, expected to take effect on June 17, 2025, follow similar announcements from other major financial institutions. Goldman Sachs and Bank of America have also implemented workforce reductions to align with the current business landscape.

How this layoff will impact Morgan Stanley?

The upcoming layoffs will impact seven of Morgan Stanley's New York City offices, although the specific departments and roles affected remain unspecified. Considering the firm's global workforce of over 80,000 employees at the close of 2024, this reduction is estimated to affect approximately 2% to 3% of its total staff.

In response to these job cuts, Sanford Heisler Sharp McKnight, a national employment rights law firm, has initiated an investigation into potential legal claims. The firm is examining possible instances of wrongful termination, discrimination, retaliation, and potential violations of the Worker Adjustment and Retraining Notification (WARN) Act.

Legal representatives are now providing assistance to employees who suspect their rights may have been violated during the ongoing layoff process.

Meanwhile, Morgan Stanley has yet to release any public statements regarding the specifics of the layoffs, including the particular offices and departments that will be most affected. However, further details are anticipated as the implementation date approaches.