"One of Australia's largest banks has made it clear to employees that not coming into the office will have consequences. In an internal memo on Thursday, ANZ Group said employees' salaries will be cut if they are not in the office for at least half the working week. Bloomberg first reported the memo. A spokesperson for ANZ confirmed the contents of the memo to Business Insider."
"Thursday's email to managers referenced a tool for tracking staff members' attendance and how pay brackets would change for people not meeting the 50% in-office requirement. Employees coming to the office less than 20% of the time won't be eligible for salary increases unless they have an exemption. Those who come between 21% and 40% of the time could see their variable pay cut by up to 50%."
ANZ will reduce pay for employees who fail to meet its hybrid work requirement of being in the office at least half the working week. The bank advised managers via an internal memo and referenced a tracking tool to monitor attendance. Staff present less than 20% of the time will not be eligible for salary increases without an exemption; those present 21–40% of the time may have variable pay cut by up to 50%. The bank said the hybrid policy has existed for years. ANZ joins other finance and tech firms enforcing return-to-office rules, though some firms remain more flexible.
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