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September 24, 2023

Citigroup is Holding Pay and Bonuses Hostage to Get People Back in the Office

pointing a finger

It seems Citi is sick of WFH slackers and is getting the stick:

Citigroup Inc. has begun telling managers to let staffers know they’ll face consequences if they don’t comply with policies for office attendance.

While the vast majority of staffers are following the firm’s rules for hybrid work, the moves are focused on those employees with persistent, unexplained absences, according to a person with knowledge of the matter. Managers will consider compliance with the rules when rating performance and crafting pay packages, the person said, asking not to be identified discussing information that isn’t public.

“We are committed to our hybrid work model and proud of the flexibility it provides our colleagues to work at least three days per week in the office and up to two days remotely,” Citigroup said in a statement. “We have firm expectations for office attendance and know that the majority of our employees are compliant with their requirements. As necessary, we hold colleagues accountable for adhering to their in-office days.

Citi began pushing a return to office pretty hard in January. CEO Jane Fraser told a Bloomberg News panel during the World Economic Forum in Davos that the company would be dragging low performers back into the office, suggesting that it’s the people working at home who aren’t doing the work.

Best of luck to them with that.

Citi workers flouting return-to-office mandate to face consequences: ‘We hold colleagues accountable’ [Fortune]

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