As the pandemic continues to change the behavior of both customers and staff, Deutsche Bank will close 150 branches this year and reopen offices, allowing employees to work from home up to three days a week.
In a message to staff, CEO Christian Sewing states that many clients come to the branch less often and instead choose digital products such as remote advisory video sessions.
As a result, 150 Deutsche Bank and Postbank branches will be closed in 2021 and another 50 Postbank branches will be closed in 2022, creating more than 1,200 jobs.
The news of the branch closure was announced when Germany reported the highest quarterly profits in seven years. The bank posted a profit of € 908 million in the first quarter with a revenue of € 7.2 billion.
Meanwhile, according to Business Insider, banks are planning to introduce a hybrid model that gives staff the option to work remotely for up to three days a week. The move is likely to prove popular with employees, 90% of whom supported it in the survey.
In May last year, banks revealed that they saw Covid-19 as a cost-cutting opportunity, noting that telecommuting and video conferencing could be a cost-cutting opportunity.
Branch closures will also take place in the context of plans for 2019, which will reduce the employment of 18,000 people, one-fifth of the world’s workforce, and invest € 13 billion in new technologies over the next four years.
Deutsche Bank closes branch office.Move to a hybrid work model
Source link Deutsche Bank closes branch office.Move to a hybrid work model