Morgan Stanley Plans 3,000 More Job Cuts

The transcript discusses the impact of a slump in deal making and capital raising on banks, leading to job cuts. Morgan plans to eliminate about 3000 jobs, targeting 5% of its workforce, excluding financial advisors. This is the second round of cuts in less than six months, with the banking and trading group being most affected.

Which group within the bank is expected to be hit the hardest by the job cuts?

What was the percentage of workforce reduction in the previous job cut mentioned?