Morgan Stanley weighs cutting Asia jobsBloombergMorgan Stanley is considering a 7 percent cut in its Asia-Pacific investment banking workforce, with China taking the biggest hit as deteriorating relations with the US and weaker economic growth curb dealmaking, people familiar with the matter said. People stand outside Morgan Stanley’s headquarters in New York on Jan. 17. The New York-based firm already axed about 50 investment-banking jobs in Asia by the end of last year after a plunge in deals, and a significant number of those were China-focused roles. Asia has been contributing about 13 percent to Morgan Stanley’s net revenue in the past five years, reaching US$6.7 billion at the end of last year. Asia delivered its third highest quarter ever, aided by the policy dynamics in Japan and the China reopening, the bank said on its earnings call with analysts last month.
