CIBC changing hours, closing some branches amid COVID-19 outbreak

Canadian Imperial Bank Of Commerce is changing the hours at its bank branches and temporarily closing some that do not offer over-the-counter cash and banking services in an effort to help slow the spread of COVID-19.

The bank says 816 of its locations will remain open, but operate under modified hours, while 206 will temporarily close effective Wednesday. It said it will post a list of banking centre locations and hours on its website on Wednesday.

CIBC says any employee affected by the temporary changes will continue to receive their full pay.

The bank is also introducing assistance for clients impacted by job loss or other circumstances and urged those that need help to contact the bank to review options.

The move comes as public health officials urge people to limit contact with others in an effort to reducethe threat of the novel coronavirus.

Businesses across the country have responded by cutting back, changing their operations and finding ways to allow employees to work from home.

"As the COVID-19 situation continues to evolve we are taking proactive, precautionary action to continue serving our clients while protecting the health and safety of our clients, team members and the communities we serve," said Laura Dottori-Attanasio, CIBC's senior executive vice-president, personal and business banking.

"We remain ready to help clients with their banking needs and we're proud to support our clients and our community as we work through the current situation together."