{"id":519712,"date":"2022-12-02T00:07:35","date_gmt":"2022-12-01T21:07:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/morgan-stanley-finally-lures-bankers-back-to-the-office-5-days-a-week\/"},"modified":"2022-12-02T00:07:35","modified_gmt":"2022-12-01T21:07:35","slug":"morgan-stanley-finally-lures-bankers-back-to-the-office-5-days-a-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/morgan-stanley-finally-lures-bankers-back-to-the-office-5-days-a-week\/","title":{"rendered":"#Morgan Stanley finally lures bankers back to the office 5 days a week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a22f2d6830e2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a22f2d6830e2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/morgan-stanley-finally-lures-bankers-back-to-the-office-5-days-a-week\/#%E2%80%9CMorgan_Stanley_finally_lures_bankers_back_to_the_office_5_days_a_week%E2%80%9D\" >&#8220;Morgan Stanley finally lures bankers back to the office 5 days a week&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CMorgan_Stanley_finally_lures_bankers_back_to_the_office_5_days_a_week%E2%80%9D\"><\/span>&#8220;Morgan Stanley finally lures bankers back to the office 5 days a week&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Morgan Stanley has finally succeeded in bringing its employees back to their desks five days a week, sources told The Post \u2014 and the threat of layoffs proved to be an effective incentive.  <\/p>\n<p>On Thursday, the Wall Street giant\u2019s CEO James Gorman disclosed in an interview that the mega-bank was making \u201cmodest cuts all over the globe.\u201d <\/p>\n<p>\u201cSome people are going to be let go,\u201d Gorman said in a sit-down at the Reuters Next Conference. \u201cIn most businesses, that\u2019s what you do after many years of growth.\u201d<\/p>\n<p>While Gorman\u2019s tone was casual, sources said the message in recent weeks has been thundering loud and clear through the halls of Morgan Stanley\u2019s headquarters at 1585 Broadway in Midtown Manhattan. <\/p>\n<p>In response, the company\u2019s bankers are making the schlep to their desks \u2014 Monday to Friday, according to sources.<\/p>\n<p>\u201cEveryone\u2019s back to pre-pandemic levels now \u2014 the fear about getting fired got people back,\u201d one Morgan Stanley insider told The Post. \u201cOut of sight, out of mind \u2014 if you\u2019re not there, you\u2019re probably going to be the first to go.\u201d <\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/James-Gorman-11.jpg?w=1024\" alt=\"James gorman\" class=\"wp-image-24400964\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/James-Gorman-11.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/James-Gorman-11.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/James-Gorman-11.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Morgan Stanley\u2019s James Gorman struggled to get employees back to the office.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>The full return marks the end of a lengthy chapter in which Gorman tried unsuccessfully to lure workers back. In June 2021, Gorman had said he\u2019d be \u201cdis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointed\u201d if employees didn\u2019t return to their desks by Labor Day \u2014 and said that those who didn\u2019t return could face a pay cut.\u00a0 <\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>\u201cIf you want to get paid New York rates, you work in New York. None of this \u2018I\u2019m in Colorado and work in New York and am getting paid like I\u2019m sitting in New York City,\u2019\u201d Gorman barked.<\/p>\n<p>\u201cIf you can go into a restaurant in New York City, you can come into the office,\u201d he famously added.<\/p>\n<p>Nevertheless, insiders said employees seemed to take the urging as more of a suggestion than a command. Most continued to work from home at least a few days a week for another year and change.<\/p>\n<p>Before Labor Day, sources said, Gorman\u2019s lieutenants had asked the rank and file to return at least three days a week. But an insider said management was \u201cwalking on eggshells\u201d out of fear people would quit if the bank was too insistent. Management had to move the goal posts back to a three-day-a-week return to the office by Nov. 1, sources add.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/morgan-stanley-hq.jpg?w=1024\" alt=\"People walk by the headquarters of Morgan Stanley.\" class=\"wp-image-24860865\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/morgan-stanley-hq.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/morgan-stanley-hq.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/morgan-stanley-hq.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>While Gorman\u2019s tone was casual, sources said the message in recent weeks has been thundering loud and clear through the halls of Morgan Stanley\u2019s headquarters at 1585 Broadway.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>There was never an official memo and the request was never enforced, according to sources close to the bank.<\/p>\n<p>\u201cManagement teams are being skittish \u2026 these banks know they\u2019re competing with private equity and Silicon Valley,\u201d one Wall Street insider told The Post at the time. \u201cThey know making these demands won\u2019t help them keep the best and brightest \u2014 even in this economy, top talent has a lot of options.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jeff-bezos-looming-us-recession-05.jpg?w=1024\" alt=\"David Solomon\" class=\"wp-image-24315477\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jeff-bezos-looming-us-recession-05.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jeff-bezos-looming-us-recession-05.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/jeff-bezos-looming-us-recession-05.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>David Solomon told CNBC 65% of Goldman employees are back at the office.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>Indeed, almost three months after Goldman Sachs ordered its bankers to return to the office five days a week, other banks are still struggling to get face time with their rank and file, even if Morgan Stanley has done so, according to Wall Street insiders. Most JPMorgan bankers also reportedly have been showing up Monday to Friday in recent months.<\/p>\n<p>\u201cWe aren\u2019t OK with it [a hybrid model] \u2026 but we lack the guts to do anything,\u201d one banker not at Goldman, Morgan Stanley or JPMorgan told The Post. \u201cGoldman are like the Yankees, they can do stuff no one else can.\u201d<\/p>\n<p>\u201cIf you want to play for the Yankees, no beards or facial hair \u2026 Players still want to play there,\u201d the executive added. \u201cGS is similar.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/12\/01\/morgan-stanley-finally-lures-bankers-back-to-the-office-5-days-a-week\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Morgan Stanley finally lures bankers back to the office 5 days a week&#8221; Morgan Stanley has finally succeeded in bringing its employees back to their desks five days a week, sources told The Post \u2014 and the threat of layoffs proved to be an effective incentive. On Thursday, the Wall Street giant\u2019s CEO James Gorman&#8230;<\/p>\n","protected":false},"author":1,"featured_media":519713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/newspress-collage-24349559-1669928624871.jpg?quality=75&strip=all&1669910691&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[136509,70789,73985,70791,120165,70792,73986,106544,70360],"class_list":["post-519712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-1-22","tag-david-solomon","tag-james-gorman","tag-jamie-dimon","tag-jpm","tag-jpmorgan-chase","tag-morgan-stanley","tag-on-the-money","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/519712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=519712"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/519712\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/519713"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=519712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=519712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=519712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}