Morgan Stanley cancels Christmas parties: report

(Reuters) - Morgan Stanley (MS.N) canceled all plans for Christmas celebrations this year after weathering an economic turmoil that rocked Wall Street, the New York Post said on Monday, citing an internal memo.

It was not an easy decision for the top management to cancel festivities as Christmas parties are a big deal at banks, the paper said, quoting staff lamenting the decision.

Morgan Stanley could not be immediately reached for comment.

(Reporting by Supantha Mukherjee in Bangalore)