Morgan Stanley to cut 1,000 jobs as markets slow
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Morgan Stanley  is cutting about 1,000 jobs in the coming week, part of efforts to trim costs ahead of what it expects will be a tougher business environment, a person briefed on the moves said on Thursday.
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General Motors of Canada will cut about 1,100 jobs at a truck plant in Ontario amid slumping pickup sales, the company said.
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Morgan Stanley  on Wednesday  said it will eliminate 1,000 jobs as it scales back its U.S.  residential mortgage operations and closes its British  residential mortgage lending business, Advantage Home Loans.
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Morgan Stanley  on Wednesday said third-quarter profit fell as the summertime freeze in mortgage and corporate loan markets forced the bank to mark loans down by $940 million, but shares held their own on optimism that financial markets may be starting to revive.
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U.S. investment bank Morgan Stanley  MWD.N on Wednesday said quarterly profit dropped by a third  on sharply lower bond trading revenue and higher expenses,  falling well short of Wall Street's low expectations and  pushing the company's shares down as much as 8 percent.
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The Co-op is set to make 1,000 staff redundant from its financial services arm, a report says.
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Morgan Stanley , the second-largest investment bank by market value, said on Tuesday it would spin off its Discover credit-card division and posted better-than-expected quarterly results on strong banking and trading.
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US investment bank Morgan Stanley (MWD.N: Quote, Profile, Research) on Wednesday said quarterly profit dropped 34 percent amid reduced trading revenue, falling well short of Wall Street&#39;s already-lowered expectations after a
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NEW YORK, Sept. 22 -- A surge in oil prices and a disappointing earnings report from Morgan Stanley were cited as factors in significant stock market losses Wednesday.
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Applied Materials Inc., a major supplier of computer chip-making equipment, is jettisoning 1,000 jobs, a 7 percent cutback that suggests some manufacturers are hunkering down for a recession.
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Stocks were seen opening lower on  Wednesday after investment bank Morgan Stanley MWD.N said  quarterly profit fell, while a brokerage downgrade on  bellwether Cisco Systems Inc. CSCO.O could hurt technology  stocks.
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Morgan Stanley said it will close its business in Britain that issues home loans and significantly curb its mortgage business in the United States.
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First Horizon National Corp , the largest bank in Tennessee, said on Wednesday that it plans to eliminate at least 1,500 jobs by the middle of next year as it slashes its mortgage sales force and closes branches.
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Citigroup Inc. C.N on Friday said it  is cutting jobs in its corporate and investment bank to save  money, and a person familiar with the decision said more than  1,000 positions may be lost.
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Wall Street looked set to open lower on Wednesday as the employment picture soured in August after reports showed a surge in lay-offs and the slowest rate of private-sector hiring in more than four years.
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Motorola Inc., the world's No. 2 maker  of cell phones, on Tuesday said it would cut 1,000 jobs in  three of its units as it puts its effort behind wireless  communications in an increasingly competitive market.
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Motorola (Quote, Chart) said it would cut 1,000 jobs, a move prompted by the spinout of its Freescale Semiconductor (Quote, Chart) subsidiary.