Morgan Stanley plans to cut 50 Asia-Pacific jobs, following a 12% drop in net revenue from Asia.

Morgan Stanley plans to cut around 50 jobs in the Asia-Pacific region, particularly in Hong Kong and China, following a 12% drop in net revenue from Asia in the first quarter. The job reductions align with broader industry trends as financial institutions seek to trim expenses amid a deal slowdown. Other banks such as HSBC, UBS, and Bank of America have also implemented job reductions in Asia this year.