Nothing's set in stone until it's been through parliament, and until a policy statement is made, everything's speculation. Even then, definite intentions aren't really known until a white paper is published. Something like this would normally be included in the Queen's speech, but it wasn't.
However, it's been widely rumoured for some time that both Rees-Mogg and Kwarteng have both been promoting this, and it's totally in keeping with Rees-Mogg's views. We know that Truss thinks workers don't "graft" enough, so it's consistent with that statement too. I suspect that the working hours regs will be going down the shitter, and that given the ongoing strikes, union rights may well be watered down even more.
At the moment, it's still a rumour, but an utterly credible one. We may get something more definite at party conference in October, when policies are often announced.