Morgan Stanley Lays Off 2,500 Employees Across All Divisions as AI Drives Major Workforce Shifts in Finance

TLDR: Morgan Stanley cut 2,500 jobs, roughly 3% of its workforce, despite record $70.6B revenue in 2025. AI adoption linked to an 11% job elimination rate and 11.5% productivity gain across 1,000 surveyed firms. Block’s Jack Dorsey cut 4,000 jobs, nearly half its staff, citing AI tools making human roles unnecessary. Anthropic’s CEO warned AI [...]

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