Chris Toomey of Morgan Stanley Private Wealth Management shares his thoughts on the future of artificial intelligence investing, now comparing the market to the late 20th century on ‘Barron’s Roundtable’.
Morgan Stanley, one of the largest investment banks in the world, is cutting 3% of its workforce, approximately 2,500 employees across all business divisions.
The cuts were based on business priorities, location strategy and individual performance, and the bank’s plans to add resources in other areas. That was the layoffs first reported from The Wall Street Journal.
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Morgan Stanley is cutting about 3% of its global workforce, or about 2,500 employees. (Kiyoshi Ota/Bloomberg via Getty Images/Getty Images)
The layoffs come after Morgan Stanley, which has about 83,000 employees worldwide, reported a banner year in 2025, with record annual revenue.
Last quarter, the bank exceeded profit expectations, largely thanks to a nearly 50% increase in investment banking revenues.
Several US companies have announced significant layoffs this year as they integrate artificial intelligence (AI) tools into their operations.
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The job cuts at Morgan Stanley affected its investment banking, trading, asset management and asset management divisions. (Kiyoshi Ota/Bloomberg via Getty Images/Getty Images)
Last week, Block said it is cutting nearly half its workforce — more than 4,000 jobs — as the payments company works to integrate AI into all its operations.
CEO Jack Dorsey said the company plans to make a single round of major cuts, rather than a series of smaller workforce reductions, to give the company more room for growth as it adapts to the AI ​​era.
Investment banking giant Morgan Stanley is reportedly cutting about 2,500 jobs, or about 3% of its workforce. (Gabby Jones/Bloomberg via Getty Images/Getty Images)
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Amazon has also announced a series of recent job cuts, totaling about 30,000 jobs.
