As per Reuters, an American multinational investment bank and financial services corporation, Citi will start holding employees ‘accountable’ for office attendance.
The Citi Bank said in a statement, “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.”
“We have firm expectations for office attendance and know that the majority of our employees are compliant with their requirements,” the statement added.
Earlier, it was stated that the bank will start to check whether employees are complying with the requirement of working at least three days a week in the office.
“As necessary, we hold colleagues accountable for adhering to their in-office days,” the statement added.
Earlier, Citigroup Chief Executive Officer (CEO) Jane Fraser received a salary hike of 9%.
Jane Fraser has been associated with Citigroup since July 2004. She joined the group as a Head of Client Strategy. The pay has increased from $22.5 million in 2021 to $24.5 million in 2022, per a quarterly filing.
The Board of the company wrote in the filing, “Notwithstanding challenging macroeconomic and geopolitical developments, under Ms. Fraser’s leadership Citi made solid progress on each of our priorities, and the compensation committee recognizes the strategic direction that took shape during 2022.”
However, the Citigroup growth forecast has also been raised even though the global economy is expected to grow at the slowest pace in 40 years.
Recently, Apple is now cracking down on remote working by tracking employee attendance as the employees are required to report to the office at least three days a week.
Employees are required to be in the office on Mondays, Tuesdays, and Thursdays, with most able to work remotely on Wednesdays and Fridays.
