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Morgan Stanley to cut 1,600 jobs

Published Updated

morgan-stanleyNEW YORK: US banking firm Morgan Stanley said Thursday it will cut 1,600 jobs, as it grapples to find the "right size" amid lower revenues for the banking sector.

"We anticipate the elimination of approximately 1,600 positions across the firm globally impacting all job levels -- to take place early in the first quarter of 2012," the company said in a statement.

Copyright APP (Associated Press of Pakistan), 2011

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