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Report: Morgan Stanley to cut 1,500 jobs

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Morgan Stanley is cutting roughly 1,500 jobs, a source familiar with the matter told CNN Business.

The job cuts, which amount to more than 2% of the bank's workforce, are being made over economic uncertainty woldwide, the person said.

Morgan Stanley may incur up to $200 million in costs related to the layoffs.

Read more from CNN Business.


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