The Blubber

Per Reuters

Citigroup employees would be held "accountable" for hybrid work model compliance. This was regarding the bank's requirement of still working in-office for at least three days a week.

The bank released a statement, per Bloomberg, clarifying the situation, saying they were committed to the hybrid work model. However, they said that colleagues would be accountable for compliance to the company's requirements.

"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... As necessary, we hold colleagues accountable for adhering to their in-office days,"

It was noted that office attendance would be considered when it came to performance rating and employee payment.

In November, Citigroup reportedly let go of 50 trading personnel while also axing dozens of banking roles. This was while other banks firms like Barclays let go of 200 positions across banking and trading desks.

In October, it was reported that over 50% of CEOs were thinking of downsizing with remote workers being their least priority. This came as 45% CEOs said they were still open to a hybrid setting.

See flow at unusualwhales.com/flow.

Other News:

• Citigroup Lets Go of 50 Trading Personnel While Barclays Cuts 200 Positions
• Over 50% of CEOs are Thinking of Downsizing—Remote Workers to be the Least Priority

Resources:

Reuters