Morgan Stanley, the sixth-largest U.S. bank by assets, plans to cut about 1,600 jobs from its investment bank in coming weeks, a person familiar with the matter said.
The cuts total about 6 percent of the New York-based company’s investment bank and support staff, the person said, asking not to be identified because the decision hasn’t been made public.About half the job reductions will be in the U.S. and the rest will affect international employees, the person said.
BBC News - Virgin France files for bankruptcy
It employs 1,000 people and is owned by French investment firm Butler Capital.
The Paris Commercial Court will decide if the firm should pursue a recovery plan or be put into liquidation.
Butler bought 80% of Virgin in 2007 from French media company Lagardere, which had purchased the chain from Mr Branson's Virgin in 2001.
It is not the only music chain suffering.
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