'Huge blow to Wexford economy' as BNY Mellon announces closure of office with 300 jobs at risk

BNY, a global financial firm, announced the closure of its Wexford office affecting approximately 310 employees following growing concerns about job security. The company cited a continual evaluation of its real estate footprint and insists that operations in Cork and Dublin remain unaffected. Around 5% of the workforce may have remote work options, while the majority will either be relocated or face redundancy. Local Labour Party TD George Lawlor criticized the treatment of employees, highlighting the broader economic implications for the Wexford community.

The manner in which the staff have been treated here is appalling. The rumours have been circulating for months about this, and to announce today that less than 5% will work from home and some of the rest will be offered redundancy, and some of the remaining workforce will be asked to relocate to Dublin if they have an Ireland only contract, it is a huge blow to the workers and their families and a huge blow to the economy of Wexford.

At BNY we continually evaluate our real estate footprint to ensure we are operating efficiently. We are intending to close our Wexford office. We remain committed to serving our clients and relationships in the Irish market and internationally.

Read at Irish Independent