Morgan Stanley to Furlough 300

Wednesday, 17 Oct 2007 | 10:33 AM ET

Financial services giant Morgan Stanley is laying off 300 workers in the wake of difficulties from the recent market turmoil.

Layoffs at Morgan Stanley
Morgan Stanley will cut 300 jobs globally in areas hit hard by the credit crunch, reports CNBC's David Faber

The company plans to cut the jobs in its structured products, mortgages and credit rating businesses. Two-thirds of the layoffs are expected to come in U.S. operations, with close to one-third in Europe and a few in Asia.

No further cuts are expected.

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