Morgan Stanley | CEO pledges job security for 60,000 staff

While some businesses have had to lay off staff due to financial uncertainty amid the coronavirus outbreak, one boss has reassured his employees that their jobs are in fact safe.

Morgan Stanley CEO, James Gorman, informed his staff that despite the economic uncertainty due to coronavirus, their jobs will be secure this year, reported CNBC.

In a memo he said: “I am sure some, if not many, of you are worried about your jobs. While long term we can’t be sure how this will play out, we want to commit to you that there will not be a reduction in force at Morgan Stanley in 2020. Aside from a performance issue or a breach of the Code of Conduct, your jobs are secure.”

The investment bank isn’t alone in this decision, as many other big banks have announced plans to postpone decisions about reducing staff headcounts as the coronavirus epidemic hits the banking industry hard.