The Morgan Stanley rumor, which CNBC broke, has the firm cutting another 1,500 employees starting this week and running through the end of June. The layoffs come on top of an already announced 5% work force reduction, bringing total 2008 layoffs to some 4,000 employees.
Meanwhile, Goldman is reportedly making smaller cuts, and not announcing hard targets, according to Reuters via peHUB. Goldman is specifically slashing leveraged finance jobs, which makes sense considering the state of the debt markets. These "unannounced" leverage finance layoffs are on top of the 5% staff reduction announced earlier in the year.
Despite better-than-expected unemployment figures, and a sense that the worst of the credit crisis may be over, Wall Street continues to reduce headcount to adjust to an era of fewer deals, particularly in structured finance and private equity. - Matthew Wurtzel
See Morgan Stanley story from CNBC
See Goldman Sachs story from peHUB
See earlier UBS story from Dealscape
See unemployment story from BusinessWeek
See related UBS story from Dealscape
See related Amex story from Dealscape
See related Bear Stearns story from Dealscape
Earlier Monday, 
