Morgan Stanley eliminated approximately 2,500 positions—3% of its 83,000 global workforce—across investment banking, wealth management, and asset management divisions on March 4, 2026.
Performance-Based Cuts
Layoffs targeted underperformers and roles misaligned with shifting priorities like AI integration and location strategies, sparing financial advisors. The bank posted record $70.6B revenue in 2025, with Q4 investment banking up 47% on M&A/debt deals and wealth management gaining 13%.
Front- and back-office roles affected globally; Morgan plans selective rehiring in growth areas.
Wall Street Restructuring Wave
Cuts echo 2025’s 2,000-job trim amid AI disruption; Block slashed 4,000 roles recently. Executives remain bullish on 2026 pipelines despite volatility from West Asia oil spikes (Brent $84+), rupee at 92, and Hormuz blockade.
India’s finance sector watches as rupee stabilizes near 92.10 amid 25-day reserves.
