@aq and @am Wow, so this is not at all reciprocal! For higher paid remote employees who live in areas where the cost of living is higher (hence the higher salaries) the wages will now be depressed to the national average (Geo C).
For those living in lower cost of living areas where the wages are depressed, the bank won't RAISE these employees wages to make them par with the national average (Geo C). How long would it take an employee in Geo A, or Geo B, to reach the midpoint of Geo C? Plus if the rumors are true about remote employees getting 0.5% to 1% lower than in office employees for merit increases, this is truly the devil's work!
For remote employees who are already living in Geo C they may or may not get a raise if they other thread is to be believed. There was talk earlier this year about how it would be harder and harder for employees to get merit increases once they reached the midpoint at ANY grade.
I know that the obvious goal is to get more and more remote workers to quit. Not enough people quit en masse when RTO was mandated and this cheap a-s company does not want to pay out more severance. They want people to leave of their own accord by creating a hostile work environment. They know people are waiting on severance packages so they are lining up the evidence for BS PIPs so they have a reason to fire employees.
I have never seen such a fast decline in morale, productivity, and a working environment before.