Morgan Stanley to Furlough 300

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

Layoffs at Morgan Stanley

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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