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Morgan Stanley Plans to Cut Around 50 Jobs in Asia-Pacific, Bloomberg Reports

--Morgan Stanley plans to cut around 50 Asia-Pacific investment-banking positions starting this week, with at least 80% of the cuts in Hong Kong and mainland China, in its biggest round of job cuts for China in years, Bloomberg reports, citing people familiar with matter.

--The proposed job cuts affect around 13% of Morgan Stanley's 400 bankers in the region, excluding Japan, one of the people said.

--Morgan Stanley didn't immediately respond to a request for comment by Dow Jones Newswires.


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(END) Dow Jones Newswires

April 17, 2024 00:03 ET (04:03 GMT)

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