RTTNews | Dec 14, 2021 02:46PM EST

14:46 Tuesday, December 14, 2021 (RTTNews.com) - Morgan Stanley CEO regrets decision forcing employees to attend officeThe Chief Executive Officer of American bank Morgan Stanley James Gorman has recalled his statement that all employees should be back at the office by year-end. He has now given a new forecast as to when companies will start asking workers to return. James Gorman told the media, "I was wrong on this. I thought we would have been out of it past Labor Day and we're not."

In June this year, the CEO had commented that he would be "very disappointed" if employees did not return to the bank buildings by Labor Day. At that time, those statements had been widely covered by the media. The plans were put on hold on the discovery of the new Omicron variant and many companies had to reassess and schedule their employees return to office.

The Morgan Stanley CEO said, "I think we'll still be in it through most of next year. Everybody's still finding their way and then you get the omicron variant; who knows, we'll have pi, we'll have theta and epsilon, and we'll eventually run out letters of the alphabet. It's continuing to be an issue."

Gorman added even with the latest developments, more than half of Morgan Stanley employees have been back at the firm's New York headquarters. While around 65 percent of vaccinated employees have returned to that building, around 95 percent have been completely vaccinated.

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