New York: In response to ongoing economic uncertainty and market volatility, Morgan Stanley is set to lay off approximately 230 employees across seven offices in New York City. The layoffs, scheduled to begin on June 17, 2025, are part of a broader global restructuring effort aimed at reducing costs and improving operational efficiency.
The move reflects a larger trend in the financial industry, where firms such as Goldman Sachs and Bank of America have also scaled down their workforces in recent months to adjust to shifting market dynamics and regulatory challenges.
According to a report by Citywire, the job cuts at Morgan Stanley are part of an estimated 2,000-role reduction globally, although financial advisers are not included in this round. The company, which had over 80,000 employees worldwide at the end of 2024, will see roughly 2–3% of its workforce impacted.
Legal Scrutiny Over Layoff Practices
In a notable development, Sanford Heisler Sharp McKnight, a national law firm specializing in employment rights, has launched an investigation into the layoffs. The firm is exploring possible violations related to wrongful termination, retaliation, discrimination, and non-compliance with the Worker Adjustment and Retraining Notification (WARN) Act.
Attorneys from the firm have offered legal support to affected employees who believe their rights may have been violated during the layoff process.
Uncertainty Around Roles and Departments
While Morgan Stanley has yet to disclose which departments or specific roles will be impacted, more clarity is expected as the layoff date nears. The firm has so far refrained from issuing a public statement regarding the specifics of the restructuring.
As economic headwinds continue to affect the financial sector, workforce optimization has become a key strategy for major banks navigating a rapidly evolving business landscape.
