Deutsche Bank Tells Americas Investment Bankers to Work at Home
Deutsche Bank Tells Americas Investment Bankers to Work at Home
(Bloomberg) -- Deutsche Bank AG told its Americas investment bankers to stay at home as the number of Covid-19 cases climbs.
“We have been concerned that a second wave may come, and it is not surprising that this should impact Deutsche Bank,” Chief of Staff Matthias Krause said in a memo to staff Thursday. “We have decided that front office staff in the investment bank in the Americas will work from home until further notice,” he said, noting that some staffers had been gradually returning to the office.
The bank said in September that workers in New York could continue working from home until the middle of next year. The Frankfurt-based company plans to leave its 60 Wall St. offices for new headquarters at Manhattan’s Columbus Circle.
Companies have been grappling with how and whether to bring employees back after sending them home in droves in March to stem the spread of the pandemic. With cases surging again and school districts across the U.S. switching to online learning, many employers are electing to keep workers home.
“We have unfortunately seen a number of colleagues impacted by Covid in New York in the past 24 hours, and also in Brazil,” Krause said in the memo. The bank has followed contact-tracing protocols, has informed people who may be affected and will continue to monitor the situation, he said.
“Ensuring a safe workplace for our colleagues is our top priority,” a spokesman for the German bank said in an emailed statement. “With cases increasing nationally, we had planned for this scenario and, out of an abundance of caution, we are requiring increased work from home to ensure the safety of our staff.”
New York’s technology and finance companies have been scaling back their expectations for ending remote work. Only 15% of office workers are projected to return by the end of this year, according to the Partnership for New York City, which surveyed major employers in Manhattan last month. That’s down from an August estimate of 26%. Another survey found that New York workers are the most reluctant in the U.S. to return to the office.
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