Morgan Stanley is preparing to lay-off significant numbers of executives from its staff, at least according to an article in today's The New York Post. Most of the cuts will occur in the investment banking division.

The firm will begin by asking department managers to draw up lists of potential lay-off candidates. The article notes that the lay-offs could mostly affect managing directors because of their large salaries.

Morgan Stanley has attempted to resist downsizing-phobia that has gripped Wall Street in recent quarters. Merrill Lynch, JP Morgan Chase, and Credit Suisse First Boston have all had rounds of lay-offs recently.

The article further contends that Goldman Sachs and Bear Sterns are both preparing new rounds of lay-offs before bonus season.

To access this article, follow this link. 

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