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Morgan Stanley (NYSE:MS)
It’s just one more sign of Wall Street’s ongoing battle with cautious markets, economic headwinds, and political uncertainty. Morgan Stanley is reportedly cutting as many as 1,600 jobs from its institutional securities business, about 6 percent of its workforce within the unit, starting next week. The bank joins a growing list of financial institutions that are trimming their work force. In the long run, the reductions promise to yield a leaner, more efficient industry.
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