Morgan Stanley: No Layoffs In 2020

By Dan Anderson ● March 28, 2020
  • Morgan Stanley’s employees do not have to worry about layoffs in 2020 due to the COVD-19 pandemic

Morgan Stanley’s employees do not have to worry about layoffs in 2020 due to the COVD-19 pandemic. According to a report by CNBC, Morgan Stanley Chairman and CEO at James Gorman assured employees that they will be able to keep their positions through the end of the year.

“While long term we can’t be sure how this will play out, we want to commit to you that there will not be a reduction in force at Morgan Stanley in 2020,” wrote Gorman in an internal memo to employees. “Aside from a performance issue or a breach of the Code of Conduct, your jobs are secure.”

Around 90% of the bank’s employees were working from home this past week to help flatten the curve of the COVID-19. Morgan Stanley also committed $10 million to help combat the COVID-19 pandemic.

Morgan Stanley reported it had over 60,400 employees at the end of 2019.