Morgan StanleyJames Gorman, CEO of the company, rescinded an order that all employees must be at work by now. He also issued a forecast on how long it would take for companies to return.

“I was wrong about this,” he said to CNBC’s Wilfred Frost Monday night on “Closing Bell.” “I assumed we would have been out past Labor Day. We aren’t.”

Gorman informed conference attendees in June that he would “be” a speaker.very disappointed” If the workers didn’t return to Morgan Stanley buildings by Labor Day. These plans were widely reported by the media. They were also thwarted by the discovery that the new omicron variant of Covid. Companies LyftTo FordIn recent weeks, we had to reassess our return to work plans and delay them.

Gorman stated that he believes we will still be involved in the project through much of next year. Everyone’s still trying to find their way, and then there’s the omicron variation; who knows? We’ll get pi, theta and even epsilon. And eventually we’ll run out of letters in the alphabet. “It’s still an issue.”

Gorman stated that Morgan Stanley’s New York Headquarters, which houses the bank’s trading operations and more than half its employees, has seen more than half the Morgan Stanley staff. According to Gorman, about 65% have returned to the building after being vaccinated and 95% have been vaccinated.