Deutsche Bank will let its employees work from home for up to three days in a week, in an attempt to offer them more flexibility. The choice will be left to the employees to plan their work-from-home and work-from-office schedule in an organised manner, with everyone aware of the schedule.
An employee survey had revealed that a significant 90 per cent of the respondents preferred to work remotely even after the pandemic.
Offices of the Bank will reopen depending on the situation in each geographical location.
Like most other organisations, worldwide, Deutsche Bank will also invest in restructuring and redesigning offices in keeping with the new modes of working.
With many clients opting to go the digital way, the number of customers physically visiting the branches has reduced drastically. Remote advisory sessions are preferred online by many, as are other digital products. Therefore, the Bank is considering closing many branches in 2021. This will result in about a thousand job losses.
Deutsche Bank posted its strongest quarterly profits in seven years, probably as a result of the cost reductions brought about by restructuring. Also, the number of loan losses dropped with the economy slowly recovering from a pandemic-induced recession.
The Bank was reportedly able to reduce its cost base for 13 quarters consecutively and shrink its internal workforce by 2,300, to 84,400, as compared to last year.