From Bloomberg Markets and Finance.

Morgan Stanley is planning to cut about 2,000 employees this month, according to people familiar with the matter. It would be the first major workforce reduction under Chief Executive Officer Ted Pick. Elsewhere, Citigroup Inc. slashed payouts to hundreds of top executives as part of a special bonus program that tied their compensation to the bank’s progress on risk and regulatory matters. Bloomberg Intelligence analyst Matt Ingram has the details.
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