JPMorgan Tests U.S. Virus Plan With Thousands Working From Home
- Leaders are reviewing contingency plans as coronavirus spreads
- JPMorgan also testing back-up trading locations for resilience
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JPMorgan Chase & Co. 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, according to people with knowledge of the matter.
Managers requested that about 10% of staff across its consumer bank work remotely as part of the plan’s resiliency testing, which has been code-named “Project Kennedy,” said the people, who asked not to be identified discussing internal matters. JPMorgan’s consumer bank, which primarily operates in the U.S., has 127,137 employees, the most of any of the firm’s divisions.