ANZ Group Holdings Ltd. said staff compensation will take a hit if employees aren't in the office at least half of the working week, as chief executive officer Nuno Matos drives an overhaul of the Australian lender. The email on Thursday to managers detailed a tool to track attendance of staff members and outlined pay brackets for people not meeting the 50% threshold, according to an internal memo.
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. "Our hybrid working expectation has been made clear to our employees, including potential impact on future remuneration if employees don't have an appropriate exception," an ANZ spokesperson said.