Morgan Stanley CEO James Gorman on Wednesday outlined the firm's latest planned job cuts, which are tied to weakness in both new stock listings and financial deals.
"Some people are going to be let go," Gorman said at the Reuters NEXT conference.
"We're making some modest cuts all over the globe. In most businesses, that's what you do after many years of growth," he added, according to a Reuters report.
Other financial firms trimming jobs, especially in Asia, include Citigroup and Goldman Sachs.
