LONDON (ShareCast) - (Sharecast News) - Morgan Stanley is reportedly planning to start a fresh round of layoffs globally in the coming weeks, as dealmaking business takes a hit from rising inflation and the economic downturn.
Reuters on Thursday cited sources as saying that in Asia Pacific, the bank has drafted up a list of staff members considered redundant, who will mainly come from teams that focus on China-related business.

It was understood that some of the cuts will come from capital markets teams in Hong Kong and mainland China, and most of the rest are expected to be from other teams focusing on China business, both onshore and offshore.

One source told Reuters that the bank's 30-plus technology investment banking team in Asia Pacific will also be affected by the cuts.

The layoffs in Asia Pacific will be greater than the bank's annual staff losses from natural attrition in the region, Reuters said, with a final decision on the size of the cuts yet to be taken. Global cuts will be made around the same time, sources said.

It was also understood that MS has yet to make decisions about the scale or timing of any layoffs. Any cuts would represent a low-single digit percentage of staff globally.

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