Wexford News

Hundreds of jobs at risk at BNY Wexford

Hundreds of jobs at risk at BNY Wexford
BNY Wexford: Photo Google Images

It is feared that up to 300 jobs could go at a financial services company in Wexford this morning.

Workers at the BNY Mellon branch in Wexford Town will meet officials as the firm is said to be undertaking a "global review" of its operations.

The financial services company employs 300 people.

In a statement issued to Beat, Minister for Enterprise Peter Burke said his department has been informed that jobs are at risk but there will be options for redundancy, virtual working and relocation to Dublin.

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“My Department has been informed that jobs are at risk in BNY’s operation in Wexford.

"The company has not yet confirmed details of job losses, which will depend on the consultation period, which will commence on Wednesday January 22nd.

"My Department understands,however, that there will be options for redundancy, virtual working and re-locating to Dublin.

“Our thoughts are with the affected workers at this difficult time."

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"I can confirm that all available supports from Government and from our agency the IDA will be made available to impacted staff.

“While acknowledging the significant impact this closure will have on BNY employees in Wexford, the South-East continues to have a significant ecosystem of well-established companies across Technology, Life Sciences, International Financial Services and Engineering & Industrial Technologies which are complemented by research centres that help win new business and assist existing client companies with transformation.

“My Department and the IDA will continue to keep in close contact with BNY Mellon management to offer support during the process," the Enterprise Minister concluded.

'A tremendous blow'

Labour TD for Wexford George Lawlor says the local community is preparing for the worst.

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"This will be a tremendous blow not just for the workers and their families, but the entire community of Wexford," Mr Lawlor said.

"BNY Wexford for many years has been an integral part of the economic fabric of Wexford Town in particular.

"You can imagine the impact that that would have on a relatively small town like Wexford."

BNY Mellon first began operating in Ireland in 1994.

Updates to follow...

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