Morgan Stanley's Gorman Says Fixed Income Tough Business

The video discusses a $1 billion cost-cutting program called Project Streamline, aimed at reducing business complexity by cutting down on servers and data centers. It also covers adjustments in the fixed income trading sector, including a 25% headcount reduction. Despite these cuts, the company has seen strong earnings, surpassing revenue targets. The focus remains on long-term business performance rather than short-term gains.

What is the primary focus of Project Streamline?

• Enhancing marketing strategies

• Expanding the data centers

• Reducing complexity in the business

• Increasing the number of servers

What percentage of headcount was reduced in the fixed income trading part of the business?

• 25%

• 30%

• 15%

• 10%

How did the company manage strong earnings despite reducing headcount?

• By increasing marketing efforts

• By focusing on long-term performance

• By cutting costs in other areas

• By expanding into new markets

What was the company's revenue target per quarter for the fixed income business?

• $500 million

• $2 billion

• $1.5 billion

• $1 billion

What is the company's focus regarding the long-term performance of the fixed income business?

• Consistently generating $1 billion in revenue per quarter

• Reducing the number of employees further

• Investing in new technologies

• Expanding the business rapidly