This was ages ago, but during on-boarding for my internship for Daimler-Benz, my boss was keen to tout the flexible work schedule. IIRC, it was "you are expected to work 37.5 hours per week; you have flexibility on exactly when; we have core hours where everyone is expected to be in; those are 9:30 AM to 4:30 PM."

IOW, "we're totally flexible on when you work that other 30 minutes per day..."