The investment bank is not providing a breakdown of where the job losses will occur. The cuts represent around 2 percent of Morgan Stanley’s work force.
“As we conduct our year-end performance management process and evaluate the right size of the franchise for 2012, we anticipate the elimination of approximately 1,600 positions across the firm globally impacting all job levels, to take place early in the first quarter of 2012.” Sandra Hernandez, a company spokeswoman, said in a statement.
Morgan Stanley (NYSE: MS) has a major facility at Harbor Point where workers support several of the company’s business units, including wealth management and global investment banking.
Morgan Stanley employed 508 people in Baltimore as of 2010, according to the Baltimore Development Corp.
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