Morgan Stanley cutting 2,000 jobs in March to improve efficiency

What’s going on at Morgan Stanley?

Morgan Stanley is reportedly planning to cut around 2,000 jobs in March to improve operational efficiency.

According to news outlets, including Bloomberg and Reuters, the workforce reduction won’t affect financial advisers and isn’t related to current market conditions.

Some of the job cuts are tied to performance, while others are the result of changes to locations where the bank operates.

SEE ALSO
• Morgan Stanley to axe 3,000 jobs, second major cut in months
• JPMorgan Chase eliminating hundreds of jobs in February
• Meta conducts performance-based job cuts in February
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Impact on Canadian staff

It remains unclear if Canadian employees at Morgan Stanley are being let go.

According to LinkedIn, the company has more than 3,000 workers in the country.

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Next steps for Morgan Stanley staff

If you’ve been affected by the layoffs at Morgan Stanley, understanding your legal rights is crucial.

Non-unionized employees in Canada’s banking industry are entitled to severance pay. The amount you’re owed is based on a variety of factors, including your role, tenure, age, and ability to find similar work.

WATCH: Employment lawyer Lior Samfiru delves into severance pay on an episode of the Employment Law Show.

Here’s what you need to know:

• Compensation: Severance packages, which can be as much as 24 months’ pay, may include salary, bonuses, commissions, and other forms of compensation. Use our firm’s free Severance Pay Calculator to better understand your entitlements.
• Deadlines: You generally have up to two years from the date of your termination to review and negotiate severance offers.
• Action steps: Consult an employment lawyer at Samfiru Tumarkin LLP to ensure your severance package is fair and aligns with Canadian employment laws.

Major employers slashing staff

The reported workforce reduction at Morgan Stanley comes amid a flurry of job cuts in 2025.

Other big names, including Siemens, Nissan, Prepac, MPG Canada, Wayfair, MLSE, Disney, Autodesk, Mohawk College, JPMorgan, Chevron, Vale, Canada Post, Workday, ADM, Amazon, and Shopify, have pulled out the axe.

SEE ALSO
• Estée Lauder reportedly cut all Canadian staff in Hudson’s Bay stores
• Canada’s immigration department slashing workforce by 25%
• Where are layoffs happening in Canada?

Lost your job? Contact us

If you’re fired or let go at Morgan Stanley for any reason, the experienced employment law team at Samfiru Tumarkin LLP can help.

Our lawyers in Ontario, Alberta, and British Columbia have helped tens of thousands of non-unionized individuals resolve their workplace issues.

Call us today at 1-855-821-5900 or request a consultation online.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.