Morgan Stanley Cuts Bonuses for Executives

Morgan Stanley, a global company in the financial and banking industries, said the company would be lowering the bonuses some executives were scheduled to receive. Base salaries would also be adjusted, according to Morgan Stanley in a filing with the SEC.

After AIG executives were roasted for receiving scheduled bonuses, this sounds like a good idea by Morgan Stanley. According to multiple accounts, Morgan Stanley received a lot of help by the United States federal government during the recent financial crisis. Like with AIG, people around the country could have been up in arms with Morgan Stanley if reports indicated that the company took some of the bailout money and handed it to executives.

With specialties in investment banking, financial services and investment management, Morgan Stanley reported had more than $62 billion in revenue in 2008. Around the world, the company is estimated to have more than 45,000 employees.

Morgan Stanley stock was mostly unchanged following the SEC filing.

Morgan Stanley Building (Image: Flickr)