ANZ staff have reportedly been threatened with cuts to their salaries if they work from home too often.
The major bank is demanding staff come into the office on at least 50 per cent of their working days.
The email asks the managers to reprimand their direct reports if they failed to meet the 50 per cent requirement.
Consequences in the form of pay cuts would be based on the staff member’s level of non-attendance in the office, the email reportedly said.
Staff with an attendance rate below 20 percent will not qualify for a salary increase unless exempted by their manager.
Employees attending the office 21 to 40 percent of the time may face a cut in their “variable pay” by up to 50 percent, based on their seniority and exemption status.
Those present in the office for 41 to 49 percent of their working hours will not incur penalties, but managers are required to review the reason for not meeting the 50 percent requirement.
9news.com.au has contacted ANZ for comment.
This update from ANZ coincided with an awkward email mistake, where some employees were incorrectly informed about returning their laptops for redundancy before officially being told they were being let go.
Swinburne expert Helen Bird commented that the email mistake should be viewed within the larger restructuring efforts led by new CEO Nuno Matos, who took charge in July.
“New CEOs typically aim to make their mark on a company. It’s common for changes in top management to follow,” she noted.
“However, these events illustrate a particular degree of ruthlessness and speed in the execution of such changes. In consequence of that approach, mistakes take on a higher degree of impact and fall out when they occur.”Â
While the bank has apologised for its mistake, Bird said it will take a lot more to cauterise the wound caused to affected staff and the remaining workforce.Â
ANZ’s work-from-home policy existed before Matos’ time as CEO, but the email was sent to staff to ensure it was enforced.
