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 was the name of the cost-cutting program mentioned?

What approach was taken to reduce complexity in the business?

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

How much was the target revenue per quarter?

What was the actual revenue achieved in the last quarter compared to the target?