Morgan Stanley to cut 1,600 jobs

15/12/2011 - 15:30

(Reuters) - Morgan Stanley will cut 1,600 employees in the first quarter, the bank said on Thursday, as it trims costs in a difficult period for trading and banking revenue.

The job cuts will come across all staff levels and geographic areas, spokesman Mark Lake said, including investment banking, trading and back-office functions.

(Reporting By Lauren Tara LaCapra; Editing by Derek Caney)