Morgan Stanley promises no job cuts in 2020 as coronavirus crisis grows

Morgan Stanley pledged to not cut any jobs this year, according to a memo seen by Reuters, as the Wall Street bank sought to reassure employees worried about their jobs during the coronavirus pandemic.

The contents were confirmed by a Morgan Stanley spokesman.

"While long term we can't be sure how this will play out, we want to commit to you that there will not be a reduction in force at Morgan Stanley in 2020," Chief Executive Officer James Gorman said in the note.