Investment banking giant Morgan Stanley has this afternoon been forced to deny that there are plans in place to remove 2000 jobs from London.
Reports from both Reuters and Associated Press had suggested that the multinational company would be moving thousands of staff from the UK capital to either Dublin or Frankfurt.
While the long-term effects of Brexit remain to be seen, the immediate economic effects have been catastrophic and unprecedented with the pound falling to a 30 year low, and the euro also falling several percentage points against the dollar.
That news appeared to get even worse for the British economy when several reputable sources reported Morgan Stanley’s plans to cut jobs in England. The bank has denied this move, but businesses are expected to restructure in such a way that employment is shifted into different countries.
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