Investment banking giant Morgan Stanley announced on March 4 that it is laying off approximately 2,500 employees, around 3% of its global workforce. The cuts, first reported by The Wall Street Journal, affect major divisions including Institutional Securities, Wealth Management, and Investment Management, but financial advisors are not impacted. Both front-office and back-office roles are included, though the bank has not specified which regions will see the highest impact.
The layoffs are set to begin in early March, according to sources, and stem from shifting business priorities, a revised global location strategy, and individual performance reviews—not from artificial intelligence adoption. This follows a similar round of cuts last spring, when about 2,000 roles were trimmed. Morgan Stanley had a global workforce of 82,992 as of December 31, 2025, with operations in over 40 countries.
Separately, Amazon also carried out layoffs this week, this time in its robotics division. The company did not disclose exact numbers but described the cuts as part of a cost-reduction and operational restructuring effort. This follows prior rounds since 2022, including 57,000 layoffs in total, with 16,000 corporate roles cut in January 2026. Amazon emphasized that robotics remains a strategic priority and continues to invest in key areas. Employees affected by the layoffs are offered severance, health benefits, and job placement support.
The layoffs at both Morgan Stanley and Amazon highlight broader trends among large financial and tech firms as they adjust workforces in response to business priorities, performance assessments, and operational efficiency needs, following expansions during the pandemic.
