Deutsche Bank plans 40% permanent work from home policy

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Deutsche Bank considering 40% permanent work-from-home policy

Deutsche Bank AG is reportedly considering a new policy that would allow almost 40% of employees to permanently work from home two days a week.

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.

If implemented, the new work model will make a significant contribution to savings target Chief Executive Officer Christian Sewing unveiled last year.

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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