Morgan Stanley Freezes I-Banking Hiring, Plans Significant Personnel Cuts

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“Morgan Stanley (NYSE:MS) has frozen hiring at its investment banking division for the remainder of 2010, Fox’s Charlie Gasparino said. Gasparino went onto say that there will be “”fairly significant cuts”" in personnel if trading volume continues to be weak. The firm still plans on hiring brokers for its joint venture with Citigroup’s (NYSE:C) Smith Barney unit. SmarTrend currently has Morgan Stanley in an Uptrend and is currently monitoring these developments and will alert subscribers to any change of trend.”

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