The cuts are reportedly part of CEO Ted Pick’s plan to keep costs under control about a year after he took the top job. It’s not just tech and media workers—and, of course, federal government employees—who are facing job cuts this year.

Morgan Stanley is preparing to cut approximately 2,000 jobs later this month, marking the firm’s largest round of layoffs since Ted Pick became CEO in January 2024, according to multiple reports. The reductions reflect a broader industry trend, as automation and artificial intelligence (AI) increasingly streamline financial services.

Cuts add to a series of layoffs across Wall Street as bosses navigate an uncertain economic outlook. Read more at straitstimes.com.