Morgan Stanley is set to lay off around 230 employees across seven New York City offices on June 17, 2025, as part of a broader strategy to cut costs and adapt to ongoing market volatility. This round of cuts is part of a larger global reduction of about 2,000 jobs, excluding financial advisers.
The company, which had over 80,000 employees globally at the end of 2024, has not disclosed which departments will be most affected.
In response, Sanford Heisler Sharp McKnight, a national employment law firm, has launched an investigation into potential legal claims stemming from the layoffs including wrongful termination, discrimination, retaliation, and possible WARN Act violations.
This follows similar layoff announcements from major players like Goldman Sachs and Bank of America, as the financial sector continues to contract.
Employees who believe they were wrongfully affected are being encouraged to seek legal advice.Thoughts and questions:
✓Anyone here directly impacted or know colleagues who are?
✓Thoughts on the legality of mass layoffs in financial institutions?
✓Are firms like Sanford Heisler making a difference, or is this mostly symbolic pressure?