Deutsche Bank AG told its New York City employees that they can continue working from home until mid-2021, in contrast to rival banks that are seeking to return staffers to offices.
Workers in New York, New Jersey and Connecticut “face the continuing balancing of your work and your children’s sporadic school schedule” as well as concerns about public transportation, cleanliness and quality-of-life issues amid the Covid-19 pandemic, the German bank said in a memo to staff. Employees can keep working at home until July, when the company plans to leave its 60 Wall St. offices for new headquarters on Manhattan’s Columbus Circle.
“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,” Matthias Krause, chief of staff for the Americas, said in the memo.
Other Wall Street firms are seeking to bring more workers back to offices after sending most home earlier this year to help stem the spread of the coronavirus. JPMorgan Chase & Co. told senior traders they’d be required to return by Sept. 21, and this week sent some of its Manhattan workers home after an employee in equities trading tested positive for Covid-19.
Deutsche Bank’s plans were reported earlier Wednesday by the Wall Street Journal.