(Bloomberg) --Citigroup Inc. told its U.K. workers it will begin monitoring office attendance data, the latest sign of Wall Street's increasingly stringent approach to remote work.
Staff were told managers will be able to use the data to determine the effectiveness of its hybrid work policy, according to a memo seen by Bloomberg News. Consistent flouters face disciplinary action from bonus adjustments to termination.
"One swipe per person, per day, per location will be captured," the memo said. "The focus of the reports will be employees with consistent office absences."
Citigroup, which has 12,500 staff in the U.K., requires hybrid employees to spend at least three days in the office. The monitoring, which is already in place in the U.S. came after a month-long consultation with U.K. employees.
The U.S. lender is widely seen to be among the most amenable financial firms when it comes to flexible work arrangements following the Covid-19 pandemic. The vast majority of its roughly 240,000 employees are considered hybrid and the bank has used the policy to retain and attract employees across its businesses during Chief Executive Officer Jane Fraser's time atop the firm.
But Wall Street is increasingly tightening its rules when it comes to remote work, with firms increasingly imposing stricter mandates despite opposition from workers set on keeping their flexible hours.
A Citigroup spokesperson confirmed the contents of the memo.
The bank will begin tracking individual staffers' office attendance on a monthly basis as early as August 7. The proposal will also allow Citigroup to collect aggregated office data every two weeks for the firm's offices in London, Edinburgh and Belfast.
The note said acceptable reasons for office absence included site capacity limitations, business travel, annual leave, sick leave, medical adjustments, people with formal flexible working agreements and part-time employment.
U.K. staff were told reporting data will be initially shared with the EMEA operating committee and chief of staff, and could be distributed further. Managers will be looking at weekly office entry data, not average attendance. The moves are focused on those employees with persistent, unexplained absences while the firm is still operating on hybrid working policies. Citi has already been collecting such data at major offices across the U.S.
