{"id":221128,"date":"2026-03-07T22:39:00","date_gmt":"2026-03-08T03:39:00","guid":{"rendered":"https:\/\/news-you-need.com\/index.php\/2026\/03\/07\/wall-street-executives-say-morgan-stanleys-latest-layoffs-caused-by-ai-sources\/"},"modified":"2026-03-08T00:25:08","modified_gmt":"2026-03-08T05:25:08","slug":"wall-street-executives-say-morgan-stanleys-latest-layoffs-caused-by-ai-sources","status":"publish","type":"post","link":"https:\/\/news-you-need.com\/index.php\/2026\/03\/07\/wall-street-executives-say-morgan-stanleys-latest-layoffs-caused-by-ai-sources\/","title":{"rendered":"Wall Street executives say Morgan Stanley\u2019s latest layoffs caused by AI: sources"},"content":{"rendered":"

Wall Street executives say Morgan Stanley\u2019s latest layoffs caused by AI: sources<\/a><\/p>\n

https:\/\/nypost.com\/2026\/03\/07\/business\/wall-street-executives-say-morgan-stanleys-latest-layoffs-caused-by-ai-sources\/<\/a><\/p>\n

Publish Date: 2026-03-07 22:39:00<\/a><\/p>\n

Source Domain: nypost.com<\/a><\/p>\n

Morgan Stanley\u2019s surprise round of layoffs this past week was the result of \u201cshifting business and location priorities,\u201d and \u201cindividual job performance\u201d issues here and abroad, according to the firm\u2019s flacks.<\/p>\n

But insiders close to the Wall Street giant say the real culprit can be summed up in two letters: \u201cA\u201d and \u201cI.\u201d<\/p>\n

No doubt, some of the employees who were axed \u2014 amounting to 3% of the mega bank\u2019s global workforce \u2014 were falling short of expectations. <\/p>\n

But Morgan Stanley is a tough place to get hired at in the first place. <\/p>\n

I can\u2019t imagine CEO Ted Pick and his team had loaded up with 2,500 bankers and traders who were dead weight.<\/p>\n

In fact, my sources at the firm say the cuts across the firm\u2019s investment banking and trading, wealth management and investment management divisions are mostly about replacing back-office workers in these areas with artificial intelligence bots.<\/p>\n

\n\t\t\tMore From\t\t\t\t\t\t\tCharles Gasparino<\/span>
\n\t\t\t\t\t<\/h2>\n

Pick and his bean counters might not admit it, but they are said to believe that for an increasing number of jobs, chatbots are more efficient. <\/p>\n

Plus the bots don\u2019t demand year-end bonuses, 401(k) matches or good health care.<\/p>\n

Look for the rest of Wall Street and much of corporate America to be doing the same.<\/p>\n

\u201cManagement just launched an awesome AI program with ChatGPT in the wealth management division,\u201d one Morgan Stanley executive said. <\/p>\n

\u201cLots of back offices getting the ax in this.\u201d<\/p>\n

A Morgan Stanley spokesperson had no comment, though a source said such cuts are part of normal reductions even if this round was sparked by the AI revolution.<\/p>\n

One tell that AI was lurking in the shadows at Morgan Stanley was the insipid \u201cstrategic goals\u201d excuse for job cuts that flacks spun to reporters. <\/p>\n

What strategy can one of the biggest brokerage firms on Wall Street really be changing?<\/p>\n

Maybe they\u2019re thinking of merging back with JPMorgan to…<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Wall Street executives say Morgan Stanley\u2019s latest layoffs caused by AI: sources https:\/\/nypost.com\/2026\/03\/07\/business\/wall-street-executives-say-morgan-stanleys-latest-layoffs-caused-by-ai-sources\/ Publish Date:…<\/p>\n","protected":false},"author":1,"featured_media":221129,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/03\/sign-displayed-morgan-stanley-building-122768050_0883cc-e1772935883480.jpg?quality=75&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[14],"tags":[],"class_list":["post-221128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence"],"_links":{"self":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/221128"}],"collection":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/comments?post=221128"}],"version-history":[{"count":1,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/221128\/revisions"}],"predecessor-version":[{"id":221130,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/posts\/221128\/revisions\/221130"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/media\/221129"}],"wp:attachment":[{"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/media?parent=221128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/categories?post=221128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news-you-need.com\/index.php\/wp-json\/wp\/v2\/tags?post=221128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}