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Morgan Stanley to cut several hundred jobs in wealth unit
The layoffs will affect less than 1 percent of the workers in the wealth management business.
High stock values and layoffs combine for big tax breaks on company stock
With the net unrealized appreciation tax break, company stock can be withdrawn from a 401(k) in a lump-sum distribution and have its appreciation taxed at capital gains rates, rather than as ordinary income.
State Street plans 1,500 layoffs
The company’s vice chair cites efforts to improve productivity.
