Mitsubishi UFJ Morgan Stanley Securities Co. is planning to downsize its workforce by 20 percent, slashing up to 1,300 jobs, The Wall Street Journal reports. The company had in February trimmed its staff by 270 with early retirement offer.
The company is planning more such retirements in October as part of its cost cutting exercise. The joint venture is 60 percent-owned by Japan’s Mitsubishi UFJ Financial Group and 40 percent by U.S. financial company Morgan Stanley.
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