Morgan Stanley to lay off hundreds across seven offices in June 2025

Morgan Stanley is preparing to lay off approximately 230 employees across seven offices in New York City, signalling another round of staff reductions as the financial services giant seeks to streamline operations amid a challenging economic environment, reports Citywire. This move forms part of the firm's broader strategy to reduce costs and adjust staffing levels in response to fluctuating market conditions and policy uncertainties.

The layoffs, expected to take effect on 17 June 2025, follow similar announcements from other major financial institutions such as Goldman Sachs and Bank of America, which have also implemented workforce reductions to align with the current business landscape. Morgan Stanley's planned cuts represent a small but significant part of a larger global job reduction effort estimated at around 2,000 roles across the company, excluding financial advisers.

According to Citywire, these 230 layoffs will be spread over seven of the firm’s New York City offices, although the company has yet to specify the particular departments or roles affected. Morgan Stanley employed over 80,000 people worldwide by the end of 2024, meaning this reduction accounts for roughly 2% to 3% of its global workforce.

Alongside these developments, Sanford Heisler Sharp McKnight, a national employment rights law firm, has announced it is investigating potential legal claims related to Morgan Stanley’s layoffs. The firm is examining issues such as wrongful termination, discrimination, retaliation, and possible violations of the Worker Adjustment and Retraining Notification (WARN) Act.

Legal representatives have offered assistance to employees who believe their rights may have been infringed during the layoff process.

Morgan Stanley has so far refrained from publicly commenting on the specifics of the layoffs or confirming which offices and departments will be most affected. However, as the implementation date approaches, it is expected that the company will provide further details.