Getting your player ready...
NEW YORK — Morgan Stanley, the financial firm whose shares have declined 45 percent this year, plans to cut about 1,600 jobs amid an industrywide drop in revenue from investment banking and trading.
Reductions will occur in the first quarter of 2012 at all levels of the firm, Mark Lake, a company spokesman, said in an interview Thursday. The figure amounts to about 2.6 percent of the 62,648 employees Morgan Stanley had at the end of September.
