Morgan Stanley promises no job cuts in 2020 as coronavirus crisis grows
(Reuters) - Morgan Stanley (MS.N) pledged to not cut any jobs this year, according to a memo seen by Reuters, as the Wall Street bank sought to reassure employees worried about their jobs during the coronavirus pandemic.
The contents were confirmed by a Morgan Stanley spokesman.
“While long term we can’t be sure how this will play out, we want to commit to you that there will not be a reduction in force at Morgan Stanley in 2020,” Chief Executive Officer James Gorman said in the note.
Reporting by Elizabeth Dilts in New York and Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr