That is absurd!

I’ve had two companies do this to me and both times, employees were offered some sort of payroll loan option to cover the gap, where we could get a little more in the previous check and then have automatic deductions to even it out.
In fact when I worked at Harvard, which is a huge company (15,000+ employees! ) they didn’t even give us a choice, they saved themselves a paperwork nightmare and just went ahead and did the juggling for everyone.
It might not even be *legal* to hold back pay with no notice. I’d think about asking them to float a little to keep everyone’s expenses covered.