Morgan Stanley Cuts 14 Jobs In India-DJ

Dow Jones reported that Morgan Stanley has let go of 14 employees as part of the U.S. investment bank's global job cuts. Morgan Stanley is cutting 6% of its institutional securities workforce globally, the person told The Wall Street Journal on condition of anonymity. This will take the number of people affected across the world to about 1,600. In Asia, it is cutting about 5% jobs in the institutional securities business. The cuts started late last week, and hit divisions like investment banking, fixed income, equity research and trading and will span jurisdictions like Hong Kong, Singapore, Thailand, India and China.