Morgan Stanley Smith Barney is laying off financial advisors, but the big bank denies that it has any major layoff planned, as was reported earlier this week by Fox Business News.
Fox caused a stir when it reported Wednesday that “someone with direct knowledge of the matter” had told the network that Morgan Stanley was planning “layoff scenarios” running into the thousands of employees, and that those getting the sack would include not just financial advisors, but also traders and investment bankers.
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