Morgan Stanley CEO urges workers to return to office to get paid New York rates

Source: The Hill | June 16, 2021 | Joseph Choi

The CEO of Morgan Stanley this week said he expected company employees to return to the office in New York as vaccination rates continue to rise.

“If you can go to a restaurant in New York City, you can come into the office. And we want you in the office,” James Gorman said Monday during an investing conference, CNN reported.

He joked that he was making the request from the company’s New York office while wearing a suit and tie.

Gorman said that by the time summer is over, most Morgan Stanley employees will need to start commuting to the investment bank’s headquarters in Times Square again.

He specified that on-site work policies would be applied on a case-by-case basis, as the company has offices around the world.

“By Labor Day, I’ll be very disappointed if people haven’t found their way into the office, and then we’ll have a different kind of conversation,” Gorman said.

“If you want to get paid New York rates, you work in New York,” Gorman added. “None of this ‘I’m in Colorado … and getting paid like I’m sitting in New York City.’ Sorry. That doesn’t work.”

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