Advantage Home Loans to shut as Morgan Stanley announces 1,000 job losses
Posted by markharrison on February 13, 2008
US Mega-bank Morgan Stanley has just announced that it will be cutting 1,000 jobs worldwide, with the bulk of the cuts happening in the US and the UK.
While, in the US, the company will be simply reining in and losing spare capacity, in the US, it’s being reported that the company will shut down Advantage Home Loans.
The news hasn’t yet hit Advantage’s website, which is still running an ad with such taglines as “some lenders have real vision.”Given quite how much Morgan Stanley suffered in the sub-prime fiasco suggests that, perhaps, they didn’t 😦