05:30 AM EDT, 03/11/2026 (MT Newswires) -- Morgan Stanley ( MS ) is hiring temporary staff in Hong Kong on a contractual basis to handle rising workforce demand amid a jump in initial public offerings while keeping costs in check, Reuters reported Wednesday, citing three sources with direct knowledge of the matter.

Global dealmakers are finding it hard to make costly permanent hires amid volatile markets despite a strong business backdrop, the unnamed sources told the news agency.

"Their (contractors') total package is significantly lower than a banker hired on permanent headcount," Reuters reported, citing one of the people. "Morgan Stanley ( MS ) could spend less and take up more deals."

The company didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)