Morgan Stanley Shuts Oakland Facility

Share this content:
Investment bank Morgan Stanley will close its call center in Oakland, CA, as part of a downsizing at the company's Internet-based retail unit.

About 260 support personnel will be cut as part of the downsizing. Morgan Stanley said it would offer positions as consultants or with other company units to 65 of the laid-off employees.

Call centers in Tampa, FL, and West Valley, UT, will continue to operate in support of the Internet-retail unit, the company said.

"In light of the current market environment and business volumes, we have consolidated our online investing operations," company spokesman Bret Gallaway said.

No further details about the call center closing were released.

The company has 46 branch offices in northern California and 1,200 financial advisers who will be unaffected, Gallaway said. The Internet-based retail unit is based in San Francisco.


Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above