(Bloomberg) — Deutsche Bank AG is revising its work-from-home policies in an effort to permanently reduce office space, adding to a growing number of lenders that are using lessons learned from the pandemic to lower costs.
The bank’s leadership is working on a new “hybrid model” for how staff can split work between the office and their homes, Chief Executive Officer Christian Sewing said at a conference on Thursday.
The new policies will eventually allow employees to have binding agreements on how many days per week they want to work away from the office, a person familiar with the matter said. The
New-home construction pulls back slightly, as builders shift attention away from the multifamily sector
The numbers: U.S. home builders started construction on homes at a seasonally-adjusted annual rate of 1.42 million in August, representing a 5% decrease from the previous month but a 3% uptick from a year ago, the U.S. Census Bureau reported Thursday.
Permitting activity occurred at a seasonally-adjusted annual rate of 1.47 million, down 1% from July but roughly even with the pace from August 2019.
Economists polled by MarketWatch had expected housing starts to occur at a pace of 1.52 million and building permits to come in at a pace of 1.55 million.
What happened: The dip in housing starts and building permits was driven by declines in multifamily construction activity. Multifamily starts fell 25% between July and August, while the number of new permits issued for multifamily
Facebook is hiring a director of remote work as it plans for a more permanent shift to working from home
- Facebook is looking for a director of remote work as it plans for a more permanent shift to working from home.
- The company is looking for someone to help it develop a long-term remote work plan and to lead Facebook’s push “toward remote-first ways of working,” according to a job posting for the role.
- Facebook employees will continue working from home until July 2021, and CEO Mark Zuckerberg has said he expects half of the company’s workforce to work remotely within the next 10 years.
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Facebook has been making a major shift toward permanent remote work, and now, it’s hiring for a new position that would lead those efforts.
The company is hiring a director of remote work — someone to help it develop a long-term remote work
People walk into a house for sale in Floral Park, Nassau County, New York, the United States, on Sept. 6, 2020. Home buyers eying for cozy backyards and more office space are staging bidding wars in the suburbs surrounding New York City amid the spread of the COVID-19 pandemic.
Wang Ying | Xinhua News Agency | Getty Images
As some Americans flee cities and move into suburban or rural areas during the coronavirus pandemic, some analysts are predicting home projects and repairs will shift from a pandemic-induced trend to long-term habit.
That could add up to more sales for Home Depot, Lowe’s and other retailers with wide variety of home improvement items, from paint and tools to kitchen appliances, according to a Wells Fargo Securities research note. Those retailers have already seen strong sales and growing profits during the pandemic, as Americans spend more time in their homes and spend