Hundreds of jobs at risk as BNY Mellon to close Wexford branch

Enterprise Minister Peter Burke said the extent of job losses would depend on a consultation period due to start this week 

It is understood that up to 300 jobs are at risk, with the bank's other locations in Dublin and Cork to be unaffected by the move.

BNY Mellon has informed Irish staff that it will close its Wexford office as the bank undertakes a global review of its real estate assets.

It is understood that up to 300 jobs are at risk, with the bank's other locations in Dublin and Cork to be unaffected by the move.

In a statement to the Irish Examiner, a spokesperson said: "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.

"We will not be commenting during the employee collective consultation process.”

Minister for Enterprise, Trade and Employment, Peter Burke said while his Department has been informed that jobs were 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 due to commence tomorrow, Wednesday, January 22. 

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

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

BNY established a presence in Ireland in 1994 and services global clients from its 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.