Deutsche Bank Considering 40% Permanent Work-From-Home Policy

Deutsche Bank AG is weighing a new policy that would allow most employees to permanently work from home two days a week as the lender draws lessons from the coronavirus pandemic.

Germany’s largest lender has been discussing the changes for several months and the two-days rule has emerged as the preferred scenario, people familiar with the matter said. Some regulatory questions still need to be answered and any policy won’t be applied uniformly to all staff, the people said, asking not to be identified discussing the private information.

Deutsche Bank is still waiting for lawmakers in several countries to finalize new remote-work legislation, one person said. It’s also not clear yet how to deal with issues including enforcing confidentiality in a private setting, and such regulatory concerns will likely result in diverging policies for some staff and some countries, the people said.

Chief Executive Officer Christian Sewing previously said Deutsche Bank will increase the amount of work employees can do from home, as the lender seeks to offer more flexibility and cut down on real estate costs. The new work model is expected to make a significant contribution to an ambitious savings target he unveiled last year.

Read More: Deutsche Bank Revamps Work-From-Home Rule in Permanent Shift

“As publicly known, we are exploring what positive lessons Deutsche Bank can learn from the Covid-19 crisis about how we work as a bank in the future,” Christine Peters, a spokeswoman for the bank, said by email. “We are working on a hybrid model that will combine working from home as well as in the office. No decision has been made yet.”

Deutsche Bank has already begun cutting office space as it plans for fewer staff at the office. The lender is just one of many across Europe that have been reassessing how much work from home they will still have once office lockdowns on the back of the pandemic are over, with some Dutch banks anticipating a rate of as much as 50%.

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