They could sell it as “things are tough and this year raises and bonuses will be nil but we can do this, if your role allows it, you can work from home 100%”.
It would not cost them a single penny, they can save on bonuses and raises and still look like a hero. Those that work for jerks and are looking to jump ship may even re-evaluate whether to leave or not with this perk.
Moral would spike up, gas, vehicle wear and tear, dry cleaning, day care etc…expenses would be mitigated. Citi would look like a forward thinking, innovative, progressive, hero to the employees not to mention even drawing in top talent from elsewhere. You want to combat the ongoing poaching done by Wells Fargo and other firms, this is your answer and I mention this again, it would not cost you a single penny as the infrastructure is already there in place.