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Barclays workers in the United Kingdom are protesting the bank’s move from two office days to three (with senior staff expected in four) and demanding that the firm cover costs associated with the policy. Thousands of staff signed an open letter criticizing the RTO mandate, set to go into effect in October, and requesting money to cover additional commuting costs. They also called on the bank to provide exemptions for people with commutes over 40 minutes, the Financial Times reported . The workers are members of the trade union Unite, which represents almost 80% of Barclays’ 45,000 workers in the UK. “One of the issues that has caused consternation is that most employers in banking and financial services are generally embracing greater flexibility,” Unite national officer Rick Coyle told The Guardian . “Our members think that Barclays is trying to fix a problem that doesn’t exist.” In a statement provided to Fast Company , Barclays said: “We recognize the benefits of balancing flexibility for colleagues with the importance of working together in our physical locations. Our minimum time in office requirements vary by business area, reflecting the nature of the work and the needs of the business. This means that most of our colleagues who are not already working in the office three days per week will align with our broader approach across the bank.” Barclays added that “senior leaders will spend an additional day in the office to support collaboration, decision-making and leadership visibility.” Some workers in the US have sought additional pay to comply with RTO policies. In March, a union representing California state workers bargaining over the state’s four-day RTO mandate called for a $500 monthly “high-crime worksite” stipend, a $25 daily commuter stipend, and free parking. The state government ultimately rejected the union’s proposals—a union leader told the Sacramento Bee that “the state is essentially offering zero”—and the RTO policy went into effect on July 1. Unions representing federal government workers have also challenged RTO mandates through arbitration. In one case, an arbitrator ordered the US Department of Agriculture to reimburse a group of 135 USDA Rural Development employees for costs caused by the agency’s RTO mandate, including tolls and other transportation expenses. However, most major banks and large Wall Street financial institutions in the U.S. have adopted formal return-to-office requirements. Goldman Sachs, whose CEO David Solomon referred to the work-from-home phenomenon as an “aberration” even while the pandemic was still raging, has a strict 5-day RTO policy ( except during this year’s World Cup). J.P. Morgan ordered workers back to the office 5 days a week in March of 2025. Defending the move , CEO Jamie Dimon called J.P. Morgan’s culture “an apprenticeship system,” adding, “you can’t learn from working in your basement.”
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Sebi is set to investigate the issues raised by discount brokers regarding new UPI charges that will impact large fund transfers starting October fifteenth. Brokers are particularly concerned that these additional costs may heavily burden them, as trades are not insured after the transfers are made. Additionally, the complexity of quarterly settlements could further escalate their expenses.
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