Concerns were growing in Wexford on Monday over the future of 300 jobs at financial firm BNY Mellon’s local operation.
There were widespread reports from employees that the company was planning to close its Wexford town branch and consolidate at its Dublin site.
As news broke of a possible closure, some employees expressed their upset over the lack of communication around their job security. “They’ve taken down all the signs, and we’re just sitting here, waiting to find out what’s going on,” one employee said.
“Their official line is that they’re rebranding, but they’re likely going to have us working from home for a few months and then we’ll lose our jobs.”
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The employee added that there would be a meeting held this week, and it was feared by that employee that following the meeting “plenty of people will be going home”.
There’ was no official response from the company, other than to say that BNY Mellon was rebranding to BNY. However, it is understood that the staff have not received any official correspondence as of yet, but are anxiously awaiting the upcoming meeting between management and employees.
Speaking to South East Radio, Labour TD George Lawlor said: “This is a huge blow and will be a significant loss for Wexford.”
“We have a highly skilled, highly talented, highly educated workforce, here in the county, and losing these jobs will impact not just on the employees but their families as well.”
Mr Lawlor called on the incoming minister for enterprise to urgently visit Wexford to address the situation.
“I’m urging the new minister to come to Wexford immediately, to either reverse this decision or ensure that these jobs are replaced with similar opportunities,” Mr Lawlor added.
“This is a serious test for the new government, and we need swift action to protect the livelihoods of our people,” he said.
BNY established a presence in Ireland in 1994 and services global clients from offices in Cork, Dublin and Wexford. The company delivers a range of services to traditional and alternative asset managers, banks, pension funds, insurance companies and sovereign wealth funds.
BNY Mellon was contacted on Monday for an official response.
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