Citigroup is doubling down on its hybrid work policy by giving most of its 229,000-person workforce a distant summer time perk.
In response to a leaked memo despatched to staff on Monday, obtained by Enterprise Insider, Citigroup is giving its hybrid staff the choice to work remotely for any two weeks of their selecting in August. Most Citigroup employees are hybrid and work within the workplace a minimum of three days per week, with solely merchants and financial institution department employees anticipated to work in individual 5 days per week.
Citigroup’s Chief Human Sources Officer, Sara Wechter, despatched the memo, which famous that the perk was a part of the financial institution’s dedication to flexibility and its hybrid work coverage.
Associated: Citigroup Mistakenly Credited a Customer with $81 Trillion Instead of $280: ‘Inputting Error’
“Our hybrid work mannequin helps us entice and retain high expertise and units us other than different corporations in our business — and we stay dedicated to this mannequin,” Wechter wrote.
Wechter added that the financial institution selected August “as a result of it’s historically a quieter time for our companies and purchasers, when many are already out of the workplace attributable to holidays.”
Citigroup CEO Jane Fraser. Photograph by John Lamparski/Getty Pictures
Citigroup final gave staff the choice to work remotely for 2 weeks in the course of the summer time in August 2022. The financial institution has additionally provided two weeks of distant work each December since 2022.
Workers should work remotely from a location the place they’ve a authorized proper to work, so this is not a “work from wherever” association.
Whereas Citigroup reinforces its dedication to hybrid work, different banks are pushing for a return to the workplace. JPMorgan required most of its staff to work fully from the office beginning in March, whereas Goldman Sachs has required it since 2021.
Associated: Citigroup Eliminated More Jobs This Week. Here’s Which Roles Were Affected.
Citigroup CEO Jane Fraser has lengthy been a proponent of versatile work. She opted to work part-time as a associate at McKinsey after having her first youngster, an association she maintained till she departed McKinsey for Citigroup in 2004.
As the primary girl to lead a major U.S. bank, Fraser has led a multi-year effort to rework Citigroup by updating its technology and inspiring work-life stability. Since changing into Citigroup CEO in March 2021, Fraser has emphasised that hybrid work was right here to remain on the financial institution.
In March 2021, she created Zoom-Free Fridays on the financial institution in order that staff weren’t required to take video calls on Fridays. She moreover urged staff to take their trip time and maintain work to plain working hours.
In January, Fraser told directors on a quarterly name that the financial institution’s hybrid work coverage gave it a bonus in recruiting new expertise and that the coverage would proceed.
Associated: Here’s How Much 8 CEOs Made in 2024, From JPMorgan’s Jamie Dimon to Disney’s Bob Iger
Citigroup is doubling down on its hybrid work policy by giving most of its 229,000-person workforce a distant summer time perk.
In response to a leaked memo despatched to staff on Monday, obtained by Enterprise Insider, Citigroup is giving its hybrid staff the choice to work remotely for any two weeks of their selecting in August. Most Citigroup employees are hybrid and work within the workplace a minimum of three days per week, with solely merchants and financial institution department employees anticipated to work in individual 5 days per week.
Citigroup’s Chief Human Sources Officer, Sara Wechter, despatched the memo, which famous that the perk was a part of the financial institution’s dedication to flexibility and its hybrid work coverage.
The remainder of this text is locked.
Be part of Entrepreneur+ right this moment for entry.
