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Morgan Stanley to cut 3,000 jobs in second quarter – source

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© Reuters. FILE PHOTO: Morgan Stanley’s New York headquarters are seen at the corner of 48th Street and Broadway in New York May 22, 2012. REUTERS/Andrew Burton/File Photo

(Reuters) -Morgan Stanley is planning to eliminate about 3,000 jobs in the second quarter in a fresh round of job cuts, a source told Reuters on Monday.

This is the second layoff at the Wall Street firm in six months and follows another quarter of dismal M&A activity that saw fees in the investment banking unit descent.

Morgan Stanley (NYSE:) did not immediately respond to a Reuters request for comment.

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