Quantcast
Connect with us

Morgan Stanley to lay off 580 U.S. employees

Published

on

U.S. investment bank Morgan Stanley will soon lay off 580 New York employees, according to an official US document, after earlier announcing plans to eliminate 1,600 jobs by the first quarter of 2012.

The New York downsizing was outlined in a document filed with the state department of labor and published Tuesday, which said thelayoffs were taking place because of “economic” reasons without providing further details.

ADVERTISEMENT

The rolling layoffs began December 15, affecting four different offices, according to the document published on the department’s website.

On December 15, the company announced it would eliminate 1,600 positions at all levels.

A source told AFP earlier this month that the layoffs would likely be concentrated in the bond business, which has been hit hard by the eurozone debt crisis.

Morgan Stanley Chairman John Mack is to step down at the end of this year after steering the company through the 2008 US financial crisis at a time when many of its competitors went bankrupt or lost much of their independence.

ADVERTISEMENT

Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

CNN

Trump slammed for lawless obstruction of Congress: ‘He’s taken a sledgehammer to the Constitution’

Published

on

On CNN Saturday, former Rep. Elizabeth Holtzman (D-NY), who voted for the articles of impeachment against President Richard Nixon, discussed the path forward for impeaching President Donald Trump.

"We know moderate Democrats are a bit frustrated with leadership over potentially expanding the scope of their consideration, maybe the Mueller report findings and drawing up these articles of impeachment," said anchor Victor Blackwell. "Do you think it's a mistake not to include anything beyond the Ukraine matter?"

"Yes," said Holtzman. "I think it would be a mistake, although, you know, I'm still at a distance, and the members of the committee really have to, who have been digging into this deeply have the best feel, but my sense is that the, what the president did is so egregious, not just with regard to Ukraine, but what part of what's bad about his activities in Ukraine, is that he's taken a sledgehammer to the Constitution by saying that Congress has no right to get information, and he's cut off his committee, his administration from, and ordered and directed them not to cooperate with the committee in any way."

Continue Reading

CNN

Giuliani pummeled by ex-press secretary for ‘returning to the scene of the crime’ to create Ukraine chaos

Published

on

On CNN Saturday, Rudy Giuliani's former mayoral press secretary Ken Frydman harshly criticized his former boss for his ongoing efforts in the Ukraine scheme.

"As you've watched the former mayor over the last several years, have you identified a point at which things shifted for the man who I guess still is for some known at America's Mayor?" asked anchor Victor Blackwell."

"Well, yeah. I think when he went into business with Donald Trump," said Frydman. "You saw a — a severe change in his personality. He had a zealous need to make money, to be relevant. To be part of the political process. And you know right now he's making, I think, ill-advised decisions, like returning to the scene of the crime, Ukraine, to make a propagandist documentary. Almost as if he's playing, he and the president, are playing, 'catch me if you can.' The president will not participate in the impeachment hearings, and Rudy is off in the Ukraine doubling down."

Continue Reading
 

Breaking Banner

‘Unbelievable’: Ex-Trump official stunned president is still letting Giuliani run around unchecked in Ukraine

Published

on

In a Washington Post report on the continuing attempts by former New York City Mayor Rudy Giuliani to dig up dirt on political opponents -- at the same time that President Donald Trump is facing impeachment for pressuring Ukraine with the promise of aid for the same -- a former Trump administration official expressed shock that Giuliani hasn't been told to stop.

Continue Reading