JPMorgan Chase & Co. has asked New York-area employees to work from home to stem the spread of the coronavirus, according to an internal memo seen by Reuters on Thursday.

The bank will split its workers into two groups, with one working from home, while the other goes to office, on a weekly rotation.

"We are asking our managers to arrange for no fewer than 25% and no greater than 50% of their team members who effectively work from home, to begin doing so by the end of this month," the memo said.

Bloomberg news earlier reported on the plan, which applies to most corporate employees based in Manhattan, Brooklyn and Jersey City, New Jersey, but not to branch workers or traders.