Morgan Stanley is preparing to lay off about 2,000 employees this month to cut costs, according to a Tuesday Bloomberg report.

Major US banks recently adjusted their staffing levels as they braced for economic uncertainty, particularly after President Donald Trump’s announcement of new tariffs against key trading partners.

Wall Street heavyweight Morgan Stanley is planning to lay off about 2,000 employees later this month, a person familiar with the matter told Reuters on Tuesday (Mar 18). The reduction of 2 per cent to 3 per cent of the company's workforce, excluding financial advisers, was aimed at improving operational ef