Morgan Stanley Shuts Oakland Facility

Share this article:
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.

Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in News

B2B Marketers Can Now Self-Serve Ads on Facebook Exchange

B2B Marketers Can Now Self-Serve Ads on Facebook ...

Sitescout's new integration with FBX opens up access to any size marketer, minus campaign spend minimums, according to the RTB company.

Day Two at DMA2014

Day Two at DMA2014

It was awards day in San Diego, with Teradata's Lisa Arthur being named Marketer of the Year, and Google Japan being feted for its direct mail prowess.

Today's Forecast: Chilly With a 10 Percent Lift in Parka Sales

Today's Forecast: Chilly With a 10 Percent Lift ...

The Weather Company launches a website offering marketers free advice on how to take advantage of shifts in the weather.