JPMorgan tests U.S. virus plan with thousands working from home: Bloomberg News

This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEG221XI_L.jpg
© Reuters. FILE PHOTO: A J.P. Morgan logo is seen in New York City© Reuters. FILE PHOTO: A J.P. Morgan logo is seen in New York City

(Reuters) – JPMorgan Chase & Co (NYSE:) is asking thousands of U.S. employees to work from home as it tests a contingency plan for closing domestic offices should the coronavirus spread, Bloomberg News reported on Tuesday.

The largest U.S. bank by assets has asked about 10% of staff across its consumer bank to work remotely as part of the plan’s resiliency testing, which has been code-named “Project Kennedy”, the report said, citing sources familiar with the matter. (https://bloom.bg/39mSUy1)

The bank thinks testing the work-from-home policy on a sampling of employees across businesses at the consumer bank can ensure kinks are worked out before the plan needs to be rolled out broadly in the event of a pandemic, according to the report.

Big U.S. banks have been rolling out contingency plans to respond to the global virus outbreak — requiring some staff to work from home, implementing travel restrictions and talking to regulators about potential stresses.

Last week on Thursday, JPMorgan told employees it was restricting all but essential international work travel due to the continued spread of the virus.

JPMorgan did not immediately respond to a Reuters request for comment.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment