TOP INVESTMENT BANKING FIRM TO CHANGE WORK FROM HOME POLICIES PERMANENTLY: DETAILS HERE 

As most of the companies are making work from home (WFH) permanent for employees amid the pandemic, top investment bank and financial services company, Deutsche Bank AG is revising its work from home policies. 

This revamp of policies have been taken up in an effort to permanently reduce office space. Meanwhile, Deutsche Bank's Chief Executive Officer (CEO) Christian Sewing in a conference said, "The bank’s leadership is working on a new 'hybrid model' for how staff can split work between the office and their homes."

Also, a person familiar with the matter commented on it saying, 'the new policies will eventually allow employees to have binding agreements on how many days per week they want to work away from the office. While, the lender has developed estimates of how big a share will work from home."

According to Bloomberg Quint report, Deutsche Bank is joining lenders such as Mizuho Financial Group Inc. and Fifth Third Bancorp in cutting office costs as the pandemic has forced a large number of employees to work from home. Meanwhile, the bank's top executives have said that they’ve been positively surprised by how little the shift has affected productivity.

"Deutsche Bank is becoming more aggressive about how we want to use the space, given what we are learning now about the way the workforce will choose to engage and choose to work every day,” Chief Financial Officer James von Moltke said.

Currently, the bank gave up two of five floors at an office in Zurich, moved to a cheaper location in London and moved spaces in New York to reduce office space by a third, Bloomberg Quint further reported.