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Morgan Stanley CEO Gorman tells employees: ‘Your jobs are secure’

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Morgan Stanley CEO James Gorman told his employees that despite the upheaval caused by the coronavirus pandemic, their jobs will be secure through this year.

“I am sure some, if not many, of you are worried about your jobs,” Gorman said Thursday in a staff memo. 

“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,” Gorman said. “Aside from a performance issue or a breach of the Code of Conduct, your jobs are secure.”

Morgan Stanley, a top player in wealth management, investment banking and equities trading, had 60,431 employees at year-end. About 90% of the bank’s employees were working…



Source cnbc.com

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