:Morgan Stanley is considering a 7 per cent cut in its Asia-Pacific investment banking workforce, or about 40 jobs, according to a source with direct knowledge of the matter.
Slow dealmaking and a tough economic environment prompted the investment bank to look at its staffing, a source said at the time. Global dealmaking has slowed down dramatically. Corporate buyout activity plunged to its lowest level in a decade in the first quarter of 2023.
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Morgan Stanley weighs cutting 7% of Asia investment bank jobs - Bloomberg NewsMorgan Stanley is considering a 7 per cent cut in its Asia-Pacific investment banking workforce, with China taking the biggest hit, Bloomberg News reported on Tuesday, citing people familiar with the matter.The bank is likely to start communicating with affected bankers as soon as this week, with more tha
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Asia stocks steady despite China data miss, helped by weaker dollar outlookHONG KONG : Asia stocks mostly held firm on Tuesday despite weaker-than-expected Chinese economic data, with investors expecting the world's second-biggest economy to provide policy support.Expectations that the dollar will soften also cushioned emerging markets, although investors were wary of crucial U.
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