Morgan Stanley CEO James Gorman walked back an edict that employees should be back at the office by now and issued a new forecast for how long companies would delay the return.
“I was wrong on this,” he told CNBC’s Wilfred Frost Monday on “Closing Bell.” “I thought we would have been out of it past Labor Day and we’re not.”
In June, Gorman told conference attendees that he would be “very disappointed” if his workers hadn’t returned to Morgan Stanley buildings by Labor Day. Those plans, widely covered by the media, were derailed in part by the discovery of the omicron Covid variant. Companies from Lyft to Ford have had to delay and reassess return-to-office plans in recent weeks.