Stratrix
On the Record · Morgan Stanley

Morgan Stanley layoffs, on the record

Every job cut, severance charge and restructuring Morgan Stanley reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 80 to 83.

Headcount, as reported

Annual reportEmployeesAs of
10-K for 202380At December 31, 2023
10-K for 202480—
10-K for 202583At December 31, 2025

Job cuts, severance and restructuring

  1. Our summaryMorgan Stanley recorded severance costs tied to an employee action in 2023, which the filing says were primarily associated with the employee action recorded in the second quarter of 2023. second quarter of 2023 · Cost: $353 million of severance costs

    Word for word“2023 Compensation and benefits expenses included $353 million of severance costs, primarily associated with the employee action recorded in the second quarter of 2023.” 10-K for 2023

  2. Our summaryThe Firm recorded specific severance costs tied to a firmwide reduction in workforce in the fourth quarter of 2022, which affected about 1% of the global workforce. fourth quarter of 2022 · Cost: severance costs of $133 million

    Word for word“In 2022, Compensation and benefits expenses included severance costs of $133 million, associated with a specific Firmwide reduction in workforce during the fourth quarter of 2022.” 10-K for 2024

  3. Our summaryMorgan Stanley carried out a workforce management action in March 2025 and recorded severance costs in compensation and benefits expense. March · Cost: $144 million

    Word for word“In 2025, as a result of a March workforce management action, we recognized severance costs of $144 million, included in Compensation and benefits expense.” 10-K for 2025

  4. Our summaryThe workforce management action affected about 2% of the global workforce across business segments and regions. Affected: approximately 2% of our global workforce

    Word for word“The workforce management action occurred across our business segments and geographic regions and impacted approximately 2% of our global workforce at that time.” 10-K for 2025

  5. Our summaryThe company split the severance costs among its three business segments. Cost: $78 million in the Institutional Securities business segment, $50 million in the Wealth Management business segment, and $16 million in the Investment Management business segment

    Word for word“We recorded severance costs of $78 million in the Institutional Securities business segment, $50 million in the Wealth Management business segment, and $16 million in the Investment Management business segment.” 10-K for 2025

Morgan Stanley has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.

Read from Morgan Stanley’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-19. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.