Industry News

Morgan Stanley axing 1,000 mortgage jobs

Job cuts follow $9.4 billion in write-downs
Published on Feb 14, 2008

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by CareyBot

Morgan Stanley announced Wednesday the company will lay off 1,000 employees as it scales back residential mortgage operations in the U.S. and closes a UK-based subsidiary, Advantage Home Loans. Morgan Stanley, which reported $9.4 billion in mortgage-related write-downs in the ...