Citi, Morgan Stanley join Europe’s banks in hitting ‘pause’ on job cuts as coronavirus pandemic ravages the global economy squib

Thousands of bankers are set for a reprieve as Morgan Stanley and Citigroup joined European lenders in pledging to preserve jobs amid the widespread impact of the coronavirus.Citigroup will suspend any planned job cuts, according to a person familiar with the matter. And Morgan Stanley Chief Executive Officer James Gorman told employees in a memo Thursday that the bank will not trim the workforce this year. The New York-based banks are seeking to reassure employees as the pandemic roils markets…
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