DB - Deutsche Bank seeks to cut costs with 'hybrid model' for work

Deutsche Bank (DB) is devising a new "hybrid model" for how staff split their work between their homes and offices, CEO Christian Sewing said at a conference on Thursday.The change will permanently reduce the amount of office space the bank will need to maintain, and with it rent and associated costs, Bloomberg reports.Deutsche Bank Chief Financial Officer James von Moltke now sees an opportunity to lower its expenses on rent and furniture. Last year, the bank spend EUR 1.7B ($2B) on rent and furniture and had expected that amount to stay stable.Earlier in this week, Deutsche Bank gave up two of the five floors it rents in one of Zurich's most expensive office buildings.It will also cut the amount of office space in New York that it occupies by almost a third. In the past couple of years, it has cut its U.S. workforce by almost a fifth. Also, its

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Deutsche Bank seeks to cut costs with 'hybrid model' for work