Morgan Stanley Smith Barney has scaled back the number of total regions to 12 down from 16, and eliminated four management positions as well.

The new structure was confirmed by a Morgan Stanley spokeswoman on Monday after it was first reported by Dow Jones. The move follows the firm's reduction of its regions from 19 to 16 in December. Managers in the four eliminated positions will be assigned to management positions in the field, the Morgan Stanley spokeswoman said.

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