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The company has had a presence in Ireland since 1994. Alamy Stock Photo

Fears over future of hundreds of financial services jobs in Wexford

Staff will find out tomorrow morning whether their jobs are safe at the company’s south-east offices.

THERE ARE FEARS for the future of hundreds of jobs in Co Wexford, with the jobs now “at risk” according to a government minister.

The Minister for Enterprise Peter Burke said his department has been informed that global financial services firm BNY Mellon is undertaking a “global review” which “will impact the company’s Wexford” offices.

Burke said its other branches in Dublin and Cork are unaffected by the review of its real estate assets.

“My Department has been informed that jobs are at risk in BNY’s operation in Wexford,” the Fine Gael TD said.

“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.”

Burke added that he is thinking of the “affected workers at this difficult time”, and promised that all available supports from the government and from the IDA will be made available to impacted staff.

The Journal understands that staff at BNY Mellon will know tomorrow morning whether their jobs are secure at the company’s offices in the south-east.

The US company has an estimated 300 jobs in Wexford town according to local TD George Lawlor.

The Labour representative insisted that the new government will need to intervene if a significant number of job losses are announced.

“Tomorrow will bring the long-sought after clarity for the workers who have had to listen to rumours about the future of BNY Mellon for many many months now,” Lawlor told The Journal.

“It is my sincere hope that the company will see sense and retain operations in Wexford.”

Lawlor said “whole families” were employed at the company, and claimed that staff had been treated “unfairly” due to a lack of information on the company’s future.

BNY Mellon – which has its headquarters in New York – opened its first offices in Ireland in 1994 and has two other Irish branches in Dublin and Cork.

Its range of services include asset management, pension funds and sovereign wealth funds.

The company did not respond when contacted.

Lawlor said that the company’s affairs may be among the first items on Burke’s successor as Enterprise Minister if tomorrow’s news means unemployment for many staff.

“There is a highly skilled and qualified workforce that operates in Wexford. If tomorrow’s news is to the contrary then there must be interventions from the new minister and I will be calling on them to urgently visit Wexford to address the situation,” Lawlor said.

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