Citi sent a memo meaning people will need to spend more time in the office

Among investment banks, Citi has been fairly relaxed about working from home. In February last year, CEO Jane Fraser said that she was all for people working from home two days a week, even while people like Jamie Dimon have railed against it. 

Nineteen months later, Citi is still letting its people work from home two days a week. But it has slightly tightened the parameters.

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In a memo sent earlier this week, Citi informed hybrid staff that starting from October 1st, public holidays globally will no longer count towards in-office days. On weeks with public holidays (eg. Thanksgiving, Christmas, 4th of July in the US), employees will therefore still need to be in the office three days. Previously, employees had been treating these holidays as a reason to come into the office twice. 

Citi declined to comment for this article. In sections of the memo seen by eFinancialCareers, Sara Wechter, Citi's head of HR, said: "Beginning October 1, public or national holidays will not count toward your three-day-in-office commitment. During weeks with a paid holiday, please plan to be on-site three days.” Wechter also declared that Citi is proud of its hybrid work model. "It has become a defining part of what makes working at Citi special and the flexibility it provides has helped us retain and attract top talent.”

Some Citi employees are unhappy with the turn of events though. There are suggestions that the new policy could result in people spending an extra two weeks, or more, in the office each year. 

Eyebrows have also been raised at the memo's tone. It's understood to have included a warning that employees violating the new requirements will be put on a performance improvement plan. Citi has also launched a new attendance monitoring dashboard and people who attend the office infrequently will find their in-office requirements increase. Citi is always understood to have linked performance to time in the office, but it is becoming more explicit.

Employees fear they will be summoned five days a week from January. 

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