Morgan Stanley chief to bankers: If you want NYC salary, you need to be in NYC

Morgan Stanley’s chief executive said he expects all New York City employees to be back at their desks by Labor Day — or they will face salary cuts.

“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,” James Gorman said in a virtual conference Monday from the bank’s office.

The investment bank has allowed its 70,000 employees to work from home during the pandemic.

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