FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports that Morgan Stanley has imposed an 'informal hiring freeze', and is weighing layoffs.
Excerpts from the report are below:
On Morgan Stanley’s 'informal hiring freeze' and possible layoffs:
Sources are telling the FOX Business Network (FBN) that Morgan Stanley (MS) CEO James Gorman has put a lid on new hires, and is weighing layoffs.
'Sources say the firm has imposed an 'informal hiring freeze', and will not be adding staff; it will only replace key positions.
'The equity and fixed income trading divisions would likely be hit hardest by the layoffs. In January, Gorman will decide whether MS will begin additional job cuts'.
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