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14/05/2012 20:43:00

Morgan Stanley May Have Layoffs If 2Q Remains Weak -Fox Business' Gasparino

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Morgan Stanley (MS) banking executives are expecting layoffs if the market in the second-quarter continues to be weak, Fox Business Network's Charlie Gasparino reported Monday.

Senior Morgan Stanley executives, in investment banking in particular, have been instructed to compile a list of the bottom 15% of performers, in what Gasparino said is a "fairly normal" move.

A spokeswoman told Fox Business that Morgan Stanley constantly evaluates market conditions and isn't planning layoffs at this time.

Meanwhile, Gasparino reported that at J.P. Morgan Chase & Co. (JPM), dismissals of employees are expected in upcoming days.

Website: www.foxbusiness.com

-Dow Jones Newswires; 212-416-2900

(END) Dow Jones Newswires

May 14, 2012 14:43 ET (18:43 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

14 mai: UPDATE: Ashok Leyland 4Q Net Profit Down 13% To INR2.59 Billion
14 mai: BASE METALS HIGHLIGHTS: Top Stories Of The Day

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