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Dubai: Morgan Stanley reduced its workforce at its regional hub in the Dubai International Financial Centre, joining others in the emirate who have cut jobs to manage the impact of the global credit crisis.
The bank cut 10 to 15 jobs last week from more than 110 at its office, Georges Makhoul, Morgan Stanley’s managing director for the Middle East and North Africa, said on Sunday in an e-mailed response to questions from Bloomberg News.
"We have no intention at all to redefine our presence here as it is strategic," he said. The reductions were not made in any particular area or level, he added.
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