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Cantor Fitzgerald to lay off hundreds due to coronavirus-related downturn: report [MarketWatch]

Morgan Stanley (MS) 
Last morgan stanley earnings: 4/16 07:15 am Check Earnings Report
US:NYSE Investor Relations: morganstanley.com/about-us-ir
Company Research Source: MarketWatch
Cantor Fitzgerald is cutting hundreds of jobs in an effort to reduce costs amid the coronavirus-triggered economic downturn, Bloomberg News reported Thursday. Hundreds of layoffs will span various divisions at the investment bank, Bloomberg said, citing people familiar with the matter, resulting in less than 5% of its overall workforce of about 12,000. Some layoffs have reportedly already occurred, while more are planned in the coming weeks. By making the cuts, privately owned Cantor Fitzgerald is breaking from other major investment banks, including Morgan Stanley , Goldman Sachs and Citigroup , which reportedly have reassured its employees that job cuts are not on the table for now, betting that the economy will pick up in several months. More than 20 million Americans have lost their jobs so far as a result of the economic shutdown forced by the COVID-19 pandemic. Show less Read more
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