Finance

Deutsche’s staff will have to agree detail of hybrid working with managers

German lender Deutsche Bank is planning to roll out a hybrid working system for its employees post-pandemic but the details will be worked out between individual managers and their staff.

The bank is “moving to provide our employees some additional flexibility in hybrid working models,” chief financial officer James von Moltke told Bloomberg in a 28 April interview. 

“It’s a range of 40 to 60 percent, we think, of flexibility. And it will really be up to the employee, but in a structured way with the manager so we know when people are expected to come to the office,” von Moltke added. 

Deutsche Bank, which reported its best quarter since 2017, is the latest of a slew of financial services companies to announce that they are considering hybrid working models, which would see workers split their time between the office and home. 

In the UK, the third nationwide lockdown to control the spread of Covid-19 is slowly easing and the stay-at-home order ended on 29 March. However, workers must still work from home if possible. 

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In the City, HSBC is one of the latest to announce that it will move to a hybrid working model “wherever possible” and will thus have to cut office space. Professional services firm PwC said that staff would spend around half of their time in the office post-pandemic on 31 March. Rival KPMG said it could reduce its office space as part of a new plan for permanent hybrid working. 

READBack to work as UK lockdown lifts: How City firms are planning for a return to the office

Companies are waiting for the results of the government’s social distancing review, announced by the prime minister in February, which will aim to determine when and under what circumstances social distancing guidance can be lifted.

The review is expected to be completed ahead of step four, the last phase of the roadmap, which would start no earlier than 21 June.  

To contact the author of this story with feedback or news, email Bérengère Sim

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