Morgan Stanley plans biggest round of China job cuts in years

The final size and timing of the cuts are subject to change, sources said. — Reuters

HONG KONG: Morgan Stanley plans to start cutting about 50 investment-banking jobs in the Asia-Pacific region this week, with at least 80% of the reductions in Hong Kong and China, people familiar with the matter say.

The planned cuts affect about 13% of the 400 bankers in the region, excluding Japan, one of the people said. More than 40 people in Hong Kong and mainland China are expected to lose their jobs in the coming round, the people said, asking not to be identified discussing private information.