Deutsche Bank: Employees can stay home until mid-2021

Directive comes as lenders struggle to establish protocol for return to work

Deutsche Bank CEO Christian Sewing and Deutsche Bank's Manhattan headquarters at 60 Wall Street (Getty)
Deutsche Bank CEO Christian Sewing and Deutsche Bank's Manhattan headquarters at 60 Wall Street (Getty)

Employees at Deutsche Bank won’t have to replace sweats with suits any time soon.

The German lender notified staff in New York, New Jersey and Connecticut this week that they can keep working from home until next July, according to Bloomberg.

In a memo, the bank acknowledged its employees are contending with “the continuing balancing of your work and your children’s sporadic school schedule,” among other covid-related concerns.

Their return to work next year will coincide with the bank’s move into a new office in Columbus Circle.

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“We will ask you to return to the office when we move into our new building, Deutsche Bank Center, assuming the environment at that time allows a safe return to the office,” said chief of staff for the Americas, Matthias Krause.

The directive comes as banks across the financial sector struggle to establish protocols for returning to work safely. JPMorgan Chase called its people back to the office, but this week was forced to send some of them home after one tested positive for the virus.

The New York real estate industry has emerged as one of the leading advocates for returning to offices, with companies including Brookfield Property Partners, Silverstein Properties and Empire State Realty Trust among those calling employees back.

“We felt it was really important, as the largest office landlord in the world, that we demonstrate leadership in returning to the office,” Brian Kingston, chief executive of Brookfield, told the Wall Street Journal in June. [Bloomberg] — Sylvia Varnham O’Regan