(New York) U.S. investment bank Morgan Stanley plans to cut 3,000 jobs, after leading an initial wave of layoffs in December and seeing its first-quarter profit slump, U.S. media reported on Monday.
The company, which employed more than 82,000 people at the end of last year, made the decision because of unfavorable economic conditions, a source told CNN.
At the beginning of December, Morgan Stanley had laid off 1,600 of its employees, or about 2% of the workforce.
The banking sector, shaken in March by the close bankruptcies of two American banks, Silicon Valley Bank and Signature Bank, is going through a period of severe turbulence.
The American authorities took control of the regional bank First Republic on Monday and sold the vast majority of it to JPMorgan Chase, thus recording the second largest bankruptcy in the history of the United States.
