Deutsche Bank AG’s decision to force workers into the office more frequently has met with fierce internal criticism, demonstrating the challenges in reversing a policy introduced during the Covid pandemic.
A large number of employees have made critical remarks on an internal messaging board since Deutsche Bank cut the time staff can work from home, according to a memo sent last Thursday by Chief Executive Officer Christian Sewing and Chief Operating Officer Rebecca Short. The two executives, who signed off on the initial decision, now plan to hold renewed talks with labor representatives about the changes, they said in the memo, which was seen by Bloomberg.
“There’s enormous resistance among staff” to the changed policy, Stephan Szukalski, who heads the labor union DBV, said by email. Deutsche Bank doesn’t have enough office space to implement the rules as many staff already complain about bottlenecks, said Szukalski, who also sits on the bank’s supervisory board.
Deutsche Bank told employees two weeks ago that all staff will be required to come in at least three days a week starting in June, Bloomberg reported earlier this month. That was a reversal from a policy introduced during the Covid pandemic that allowed many employees to work from home as much as 60% of the time in an effort to increase flexibility and adjust to new ways of working, while also enabling the lender to cut its office footprint.
“We realized that our decision would not be received positively by everyone and we appreciate your feedback and frank words,” Sewing and Short said in the latest memo, which was first reported by Handelsblatt.
The backlash has largely come from staff in Germany, adding to the challenges Deutsche Bank faces in its home country. A project to move a large client database from one German unit to another has resulted in a wave of client complaints and prompted the local watchdog BaFin to install an independent monitor to oversee the effort. The bank is also facing contentious wage negotiations with various labor unions including DBV, which is demanding a 14.5% wage raise for staff at several units.
“We’re wondering what was driving Rebecca Short and the CEO” to cut the home office quota, DBV head Szukalski said. “This is an unnecessary battle front for Deutsche Bank that destroys reputation and trust.”
