Canada’s financial hub is preparing for G20 lockdown
All five major banks will be reducing hours or shutting a total of 51 branches that are inside or close to the summit meeting in downtown Toronto, Canada.
Plans are also underway to reduce staff on trading floors and corporate offices and move some operations to remote locations or allow employees to work from home.
Most banks will be implementing so-called “business continuity plans” — previously put to the test during the SARS outbreak and the Ontario power blackout in 2003 — and now being put through their paces once again. Although the summit takes place on the June 26-27 weekend, many banks will be limiting operations in the days leading up to it.
Banks are keeping details of their plans largely under wraps. Many bank employees who generally work downtown still don’t know if they are going to be coming into work or if they will be at a remote site setup. Much will depend on the intensity of the protests and the level of street disruptions.
Canada’s main financial district is preparing to deal with the disruptions of the G20 Summit set to take place in downtown Toronto June 26, 27, 2010.
See Canada’s financial hub is preparing for G20 lockdown, by Jameson Berkow, Financial Post.
Tags: G20
