Morgan Stanley CEO Expects All Staff To Return to NYC Offices By Labor Day

Consequences will be swift. You will be labelled “not a team player” and set up for prompt termination of employment

I just hope they're ready for less work output from their employees, who will now have to use up at least 2+ hours a day commuting and finding lunch.

This guy is 62 and a multi-millionaire. Can he not find anything better to do than lead a financially vampiric company and run down its employees? Seriously, this guy may only have a couple of good decades (if that) left. Why spend it in a soul-killing corporation. So tired of these sociopaths.

R2 I don’t think they care but they should. I am so much more productive at home and can work longer hours to offset all the extra work.

Many people I know would be willing to take a cut in pay to reduce stress, save time and money on tolls, parking fees, fares, gas, clothing, lunch. and sleep an hour later, avoid traffic, crowds, inclement weather and when the workday is done your home.

Talent will always have a job. If the current talent at MS doesn't want to come into the office, they'll simply find a company that allows work from home. And this micromanaging rich prick will have to deal with the fallout so fuck him.

Good. Let them go back and resume spending money in Manhattan. Too many local businesses have suffered from losing the business of office workers.

B of A is doing same.

Free ride is coming to an end for everybody.

Am guessing there are going to be more than a few employees ordered back to whatever employer that will show up with major passive-aggressive attitude.

Also am guessing no small number of same will be sat down and told to suck it up (as in written or verbal warning), or there's the door.

There is also likely to be some number (no one is sure how high at the moment) of employees who just won't return for any reason. If they cannot work from home on terms that suit, they will choose to separate.

Bump

If there is a fresh wave later in the year all the sociopathic cunt CEOs demanding a return to work should be forcibly infected with a huge viral load, prevented from running off to their country homes to isolate and be forced to put up with the same conditions their staff do.

Douche.

R7 is the CEO of Pret A Manger.

Fuck off SylviaFowler, you cow

My small nonprofit is taking the same hard line. We go back next month in shifts and then in September will all be back full time, no exceptions.

Weirdly, HR surveyed everyone and asked if we would be comfortable returning 5 days a week, 3 days a week, 2 days a week, and 90 percent said 2 or 3 days. And they told us the results and then told us everyone has to go back 5 days a week with no remote working.

We have some younger people who I think will quit as a result. They're not paid that well and just realized over the past year how much money they waste on transportation and buying lunch during the workday, plus how much time is wasted socializing in the office.

Borderlines probably miss being back in the office. They need victims

[quote] Consequences will be swift. You will be labelled “not a team player” and set up for prompt termination of employment

Has HR finally been outsourced to the PRC now? Is Comrade Ling Ling the Head HR Cunt? What are xer preferred pronouns?

This conflict is happening at lots of companies simultaneously. If lots of people quit at the same time over it, they probably won't be able to find remote commuting jobs elsewhere.

[quote]That will change if people refuse, he said, and those who have left NYC for cheaper salaries can expect pay cuts if they want to work remotely

I wonder how many people will take them up on this.

I would.

[quote] Borderlines probably miss being back in the office. They need victims

Exhibit A: R14.

Most people will have had a year-and-a-half vacation. be grateful and get your ass back to work. I got paid full time when I worked 10 minutes most days from home. it was fun, but it's almost over.

At my neighbor's workplace they have been warned, "Come back to work or your jobs will be outsourced to India." One of his friends told him to tell his HR to stop being so complacent. The friend's company already had an outsourced team which recently lost six members in India to Covid and eleven other staff members on bereavement leave due to losing family to Covid or dealing with family members being ill.

My neighbor's friend thinks that companies threatening to outsource in the middle of a pandemic deserve a public backlash for their lack of compassion or empathy. At the friend's workplace one of the senior execs apparently joked, "That's inconvenient" in response to being told about some of their offshore team dying. The execs in charge seem to be repulsive, cruel assholes everywhere.

Just because you’re dead weight R21 doesn’t mean we’re all like you. Are you in HR?

"A May survey of 1,000 U.S. adults showed that 39% would consider quitting if their employers weren’t flexible about remote work. The generational difference is clear: Among millennials and Gen Z, that figure was 49%, according to the poll by Morning Consult on behalf of Bloomberg News."

Back to work bitches, no more pretending to work from home while fingering your pussies all day.

Drama Queen types love the office.

You guys aren’t being team players!

yes r23 I'm SVP of HR. I just marked your file for being a very, very bad boy.

I find the whole past year very odd. Most of my coworkers and I have been working hard, always available and more productive than ever, and grateful that we were able to keep working during the pandemic. And then we have a few, mostly younger people, who have been slow to respond, slow to deliver, and bitching about everything along the way while making demands for better accommodations. And they'ce been coddled and told to take care of their mental health. I get that but on the other than, I was brought up to understand that when I am paid to do a job, my job is to do the work; otherwise, I'm a fraud who is stealing money.

[quote] Weirdly, HR surveyed everyone and asked if we would be comfortable returning 5 days a week, 3 days a week, 2 days a week, and 90 percent said 2 or 3 days. And they told us the results and then told us everyone has to go back 5 days a week with no remote working.

This is the kind of shit that really pisses me off!

Why the fuck did you take a survey? Just to rub our fucking noses in it?!

You NY DL’ers wil have to fill me in.

Aren’t investment banks like Morgan Stanley infamous for making junior associates work like 16 hour days?

Interesting that financial companies are the ones “leading the charge” back to the office.

Good luck with that.

R5 This is the thing I've always hated about the idea of working in an office. When you factor in all those costs, it pays to work from home or work part time with a higher salary.

R22 This is why people have to stop combatting outsourcing by being xenophobic and hating on minorities. The way to combat it is to have the unions build lines of communication in these countries and have their workers fight for their own rights. If you empower workers in these countries, companies will no longer shift jobs based on salaries alone. It's better to raise all boats in the tide than to leave people behind or have an I've got mine, get yours attitude. United we stand.

I wonder how many people who were whinging how lockdowns "InFrInGe On My RiGhTs" and citing detrimental impacts on mental health are now complaining they can no longer work from home.

[quote] Why the fuck did you take a survey? Just to rub our fucking noses in it?!

My guess? They hoped the survey would support what they wanted to do; since it didn’t, they tossed it aside to do what they’d always planned. You can bet if the survey had been in favor of ‘back to the office,’ you’d have heard about it.

A man was slashed in the head at one of New York's busiest subway stations in Times Square during the Friday rush hour. Who wants to come back to work in such a dangerous city with vehicular accidents, stabbings, shootings . . .? Home is so much safer!

MS CEO is on a roll.....

he's right, of course

From what I have heard, most NY area companies are all demanding workers back by Sept. This Morgan Stanley bad press may backfire on that white collar criminal CEO. Perhaps the internet could play a role in shaming this non-shameable feeble excuse...

I have been going to the office five days a week since May so I have no sympathy for those who still want to stay home. Most people will think you people are whiners.

Think much of it (surprise, surprise) is a clash of cultures between older generation that run many of these companies versus younger.

WFM isn't new, has been happening for about a decade or more now for a good number of workers. However it didn't suit everybody, especially some older who just are all about that face time thing. It's what they came up with and all they know. They have adapted to tech as necessary to function and keep their jobs, but they aren't giving up another inch if possible.

Am willing to bet King Cuomo and BdeB have been working the phones and emails telling employers to bring people back ASAP.

Cuomo in particular after shutting down state for pretty much an entire year, and the slowly allowing things to come back (especially NYC), needs for businesses to bring employees back, and get city back to normal routine.

NYS and NYC got lucky in that Biden won last November and Schumer now runs the senate. That ensured instead of miserly federal bailout money, the treasury spigots were opened totally erasing any deficit either of above may have had due to covid. That won't happen again and NYC/downstate being primary economic engine of NYS needs to get back on track.

R42 completely agree with you.

We’re supposed to go back in rotation starting in Sept but many suspect they are going to demand us full time in Jan. I’m sure Cuomo is pressuring them. I refuse to go back to be a good little consumer commuter. I hate my commute.

My best friend's husband is a trader at MS. He's jumping ship to another company. He really loved not having to deal with office nonsense.

that bitch from morgan stanley just misses people kissing his ass

Yes, work yourself to death so the CEO can make his millions.

We're going back into the office next month.

I've worked between 4-20 hours of overtime, every week for the past 4 years. Now I won't do one single fucking minute of it

My company wants to play, we'll play

I can’t wait until everyone goes back to work!

Our company also just did a survey and released the results. The results were that we wanted many telework days per week.

We will soon see what the return policy is and, I bet, it’ll be return 5 days per week

Well I heard the common cold and flu will be rampant shortly. Hopefully everyone has a ton of sick and vacation time built up after WFH so they can just call out and actually do nothing at home. A big fuck you to the man!

There's a great article in current Atlantic magazine about how covid and whole WFH thing is likely going to bring about some permanent changes in USA labor market.

While true not every employee can or wants to work from home, gist of article was that many who can (and will be allowed if the company wants to retain said talent) will be at the higher end of pay scales. Those with talents and so forth deemed just too important to their department or employer overall to risk them leaving. Atlantic further goes on this is likely to be white males who make good to excellent incomes in certain fields.

Those who previously commuted and or recently bought a home in suburbs have in good number come to adjust and even prefer WFH. They just don't see the point of commuting in and back each day when they can get much if not all things done from home.

Again WFH isn't new, but covid opened up many people's eyes and there just may not be a way to get that bull back into barn.

Problems are going to come from the large group of older men (and women I suppose) who are CEOs, presidents and others high up food chain at companies still clinging to old face time models of work. By "face time" I mean in person so they can physically see said person, not on Zoom or whatever.

Our boss is implementing a work from home policy that will allow us to work up to 80% from home based on certain conditions. We’d have to sign agreements that are reviewable annually. Living in the snow belt, I’m thinking of asking to work from home over winter. Even not having to drive in ice and snow, or go out of the house when it’s freezing cold, would be nice.

R31

What you may think of as "investment banks" of NYC in 1980's or even 1990's are largely gone. They either went bankrupt and or were bought and have become part of larger full service investment banks. JP Morgan Chase for instance got Bear Stearns and Dean Whitter Reynolds. E.F. Hutton became part of Shearson Lehman/American Express.

That being said yes, certain divisions of full service investment banks are hard on their junior associates, but that's way things are generally across many professions. Life a junior associate attorneys isn't all rainbows and unicorns either.

What a greedy kike

Even before the pandemic, the unemployment rate was at its lowest since the 60s. Now, people who don't want to go back to the office are quitting. If you don't mind working in person, you might have your pick of available jobs in the next few months.

I wonder how many of these CEOs are extroverts - many extroverts have been having a hard time dealing with working from home.

People with kids also want to get back to the office so that can get away from their kids and have some peace and quiet for a few hours.

But then other people with kids want to stay home because they want to save money on childcare fees.

Three bullying troublemakers went back to the office about 6 to 8 weeks ago. The other 56 people love working from home. The troublemakers have already caused trouble

I would imagine that most companies, large or small, have fairly long-term leases on their office spaces. They're not going to keep paying rent and not use the office space. At least that is the case at the large law firm where my friend works. The firm occupies three floors of a major office building downtown. The staff was full of bravado a few months ago saying they would not go back to the office or maybe do a hybrid version with a couple of days a week working from home.

Well, the bravado is gone, and most employees even the top lawyers at the firm have already returned to the office. The others will be returning soon.

[quote] he's right, of course

We agree!

Hits just keep on coming!

MS will soon begin barring not fully or totally or partially vaccinated employees and others from their offices.

Meanwhile here is how California plans to roll.

R62

Posted to wrong thread.

Disregard and carry on.

R61

Posted to wrong thread.

Disregard and carry on...

R61, I have no problem with that.

If you’re not vaccinated, I don’t want you in my office either.

The company I work for owns their 30-story building. A couple months ago they decided that about half the company's 2,500 employers there would either be work-from-home or 'hybrid'.

I'm not sure if this is permanent or just til the world conquers Covid (99% of workers have been working from home since Spring of 2020). But for the past month the floors have been cluttered with huge bins into which people are dumping the contents of their cubes.

They recently removed the mandatory mask rule for 'fully vaccinated people' (*snort*).

R65 it’s implied that “not vaccinated” means out of work at MS.

And?

No problem from where I sit.

You protect the health and safety of the other workers in your facilities.

JP Morgan in jumping on the bandwagon.....

Good - this will help small businesses.

Pretty sure corporate landlords DO have a lot of clout and are behind this push to bring workers back.

Agree about vaccinations R68. I was just pointing out that while he’s saying you can work from home if you’re not vaccinated, the implication is that if you choose to do so you will lose your job. Why be coy?

Finance, Wall Street, banking or whatever sector you want to call it has long had a large role in NY economics and politics.

Yes, there has been a concerted push to lure and grow other employment sectors such as tech and life sciences, BdeB and Cuomo likely knew who to lean upon when they wanted to get things reopened, and you're seeing fruits of those efforts I shouldn't wonder.

Tech like Google are bringing people back, but all in all on a more flexible basis from what can see. Meanwhile Morgan Stanley, Citigroup, Chase, Goldman, etc.. are leading the way in bringing staff back by Labor Day, again or "else".

Forbes says in part:

quote;

There are a couple of other issues that aren’t discussed. Think for a moment what would happen to New York City if the big banks, which bring in the vast amount of tax revenue to the city coffers, decide to forsake their real estate and allow everyone to permanently work remotely. It would cause a cascade of business closures and the death knell of restaurants, bars, gyms, shops and stores, as thousands of potential customers won’t be around.

The deserted landscape could create a vacuum in which crime, violence and open drug use run rampant. This would discourage people who were considering going to the office or tourists coming into town to enjoy a Broadway show and dinner.

The empty streets and closed businesses would place downward pressure on the value of real estate. Feeling unsafe and vulnerable, residents would consider leaving New York and moving to the suburbs. The tax revenue will fall further, which means that city officials will be forced to cut both services and municipal workers. With fewer garbage collectors, firefighters, police officers, teachers and hospital personnel, the quality of life would suffer. The decisions made by Goldman Sachs, JPMorgan and Morgan Stanley may have also been prompted by a need to save the city from demise.

/quote;

"Dimon did not mince his words. Working from home “doesn’t work for people who want to hustle, doesn’t work for culture, doesn’t work for idea generation. By September it will look just like it did before,” Dimon said at a Wall Street Journal CEO Council event last month. “We are getting blowback about coming back internally, but that’s life.”

I’ve got your blowback right here…

Just like women working in the factories during World War II, Covid opened up this Pandora’s box permanently and it can never be closed again.

[quote]At my neighbor's workplace they have been warned, "Come back to work or your jobs will be outsourced to India."

This never happened.

There’s going to be a lot of tension and drama. The introverts will desperately try to focus on their work while the extroverts will desperately try to turn every workday into an episode of “Friends.”

I absolutely love the borderline hysteria contained in Forbes and NY Post articles. Lol. Barely 21% of workers are coming into NY. “Forcing” people to come in after Labor Day? Yeah, good luck with that. Come September they’ll be LUCKY to get 20% more back in the office. The great reset is happening in NY whether the greedy banks want it to or not.

And, by the way, Covid is NOT over.

As a moderately enthusiastic - more resigned, actually - capitalist, I hope so, R79. Screw the idiot CEOs and office towers. Life is to be lived. (With all that money.)

R73 that's exactly what it's about. There will be a domino effect throughout the economy. Look at how many people admit they're saving a lot of money not going in -- clothes, commuting, lunches, etc... well obviously that's not good for the bigwigs thriving off those extra necessities.

It's long been known (before covid) that cutting just 1 work day (4 days a week vs 5) would help with the environment, make people happier, decrease vehicle wear, etc., but no matter how many times that's said, it never came to fruition. There's a reason why -- those running everything rely on us having to blow more money.

A lot of these CEOs, owners, and investors, have their hands dipped into many pockets of the economy. They don't just run one company; they have stocks, local politicians to make happy, are into real estate, write off expenses, etc. It's pretty apparent that their savings aren't enough to outweigh the losses, or it'd be a no brainer, and I doubt it's just because they hate zoom.

And how many receive tax free deals for coming to a new state or city? That's just one perk alone.

Part of me wonders if it would even mess up national wages; with people in cheap areas taking up jobs that traditionally pay based on cost of living in expensive areas. I've known workers (esp nurses) that traveled to places like NYC to make double the pay, bringing it back home. Imagine if work went remote on a large scale.

Hopefully they come up with a happy medium. I think it would be beneficial to at least cut some in house hours/ days -- like 3 days in, with 2 days at home.

All of the 'our local economy is being devastated by everyone working from home, you must return to the office to save it' is immediately shown as bullshit by 'or we'll outsource to India' because India isn't buying local lunches.

R73 Oh, I’m well aware that I’m needed to be part of a commuter crowd to fill the streets and subways and so create a buffer against crime. My money is needed to buy overpriced coffee and lunches. I get it. I’m just not into it anyway. That’s why I’m looking for remote work.

Propaganda from the Atlantic. All the journalists writing about how “work from home is the trend and workers are so much happier and healthier” have been told to write shit like this.

The CEO sounds like a proper cunt.

Hahahhahaha The Atlantic??? The ridiculous publication that has spent the last year and a half doom-writing hundreds of articles about the Covid apocalypse???

R79. Most new Yorkers are back in the office. It seems like you have been spending too much time at home. The trains and busses are packed especially at 4pm or 5pm. No empty seats. I have returned to the office since April. A good percentage of people are back to five days a week. Most jobs posted online are no longer offering remote work from home.

Thanks for revealing your true inner ugliness.

R82 and R83 I get it. They're hypocrites. They rather burn the country down, sending jobs packing, and paying shit, than make employees enjoy their life a little, while saving some money on not having to commute. They are okay with broken people meandering around like lost sheep, spending at the local discount stores.

I've long suspected the top percent is bidding time, while milking us dry. Then when it's time, it's off to the slaughter house. That's why we see no effort at putting money back into society. They'll leave us worse off than Greece was. We'll be stuck here with the falling bridges, potholes, poverty, climate chaos, etc., while they pack it up to enjoy (rape) another country.

Remember all the companies that moved their offices out of Manhattan after 9/11?

Did they all come back or were they replaced by other companies?

Converting excess office space to residential? People who will live there still need gyms/lunch counters/dry cleaners whatever.

[quote]is bidding time,

Are we playing bridge?

R85 By all accounts he IS a proper cunt

R76 is absolutely right. For a lot of people, once they experienced WFH they didnt want to go back, me for one. The genie is out of the box and as much as they want to the CEO's wont be able to stuff it back in.

R91 I earned that correction. 10 lashings with a leather belt.

Oooooh. Pics, please!