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The Markets
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Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Banks

Lloyds Bank, Citi, HSBC 'monitoring passes' to get staff back to office

US bank Citi has reportedly warned its staff that their bonuses are at risk if they ignore requests to come into the office three days a week.

According to Bloomberg, bosses at the bank are now monitoring the use of building access passes at offices in London, Edinburgh and Belfast to check on attendance.

Employees have been formally told they are being monitored and informed that "one swipe, per person, per location will be captured", said the report, with the bank adding it has "firm expectations for office attendance".

Other banks are also upping the pressure on employees to return to their desks, with Lloyds Banking also now monitoring the swipe cards of 40,000 staff who were office-based before the pandemic.

Lloyds wants staff to come in for at least two days a week.

Other banks insisting staff spend at least a portion of the week in the office include HSBC, whose 18,500 UK staff have been told to be back for three days a week from next month.

Fund manager BlackRock is cutting the time 3,700 staff can work from home from two days to one while Goldman Sachs (NYSE:GS) has demanded all 6,000 London staff return five days a week.

Amazon chief executive Andy Jassy, meanwhile said in a memo that staff who refuse to return to work in the office for three days a week should consider working for someone else.

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