"Morgan Stanley plans to take a charge of approximately $150 million to $200 million because of the layoffs, a person familiar with the matter said."
At 150M / 1500 jobs, does that mean each employee cut costs $100K? If so, is that severence pay or something else? I'm also curious what the distribution would look like. Is it like most people get almost nothing but some big cats get golden parachutes?
I doubt this includes executives with golden parachutes. They typically don't do those in bulk like this. This is more likely severance pay, immediately vesting RSU/options, any outstanding benefits owed, and any increased fees/taxes owed because of the layoffs.
At 150M / 1500 jobs, does that mean each employee cut costs $100K? If so, is that severence pay or something else? I'm also curious what the distribution would look like. Is it like most people get almost nothing but some big cats get golden parachutes?