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In an internal memo seen by Reuters, American multinational investment bank, JPMorgan Chase & Co (JPM), informed its employees on Tuesday that it is creating a plan to gradually return to on-site work. Discussions about the reopening of the U.S. economy are still ongoing amid the virus outbreak that had thrown 22 Million American citizens into unemployment.
The Operating Committee of the bank wrote in the memo, “Two considerations are paramount as we plan for this across the firm: We want to do it at the right time — which may differ by region, country and state — and in a manner that prioritizes your health and safety.”
According to its bank executives, about 180,000 of the over 200,000 JPMorgan Chase employees have been working remotely with approximately one-quarter of its bank branches closed to keep workers safe from the virus.
The company still doesn’t have a clear schedule for when it will return its workers to offices. It stands that it will remain observant of the directives from the government and health experts and assess concerns over transportation and reopening of school classes.
It had been speculated that President Donald Trump’s push for the easing of limitations of nonessential businesses is for the purpose of protecting his chances in re-election.
While the White House is being questioned by health authorities for mass virus testing, the World Health Organization (WHO) cautioned on Tuesday that the removal of lockdowns has to happen incrementally. If not, populations will risk a rebound in the number of the virus cases.
According to Chief Executive Jamie Dimon, if the government will provide mass virus testing, their employees can get back to work as soon as possible.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
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