Shock closure of BNY Mellon's Wexford base a 'body blow' as hundreds at risk of redundancy

The financial services firm BNY Mellon has announced the closure of its Wexford office, with over 300 people to be possibly made redundant. 

The firm also has bases in Dublin and Cork, however they will not be impacted by this latest announcement. 

It is understood that 5% of staff at the Wexford office, which opened in 2002, will be given the option to work from home while the rest of the jobs will be transferred or made redundant.

In response to the announcement, the Financial Services Union (FSU) have called on the company to treat their staff with respect and explore all options to minimise job losses.

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Commenting on the news of its closure, General Secretary of the FSU, John O'Connell, said: "The confirmation by the Bank that 300 jobs are at risk follows months of rumours that drastic change was been contemplated. Staff and their families as well as  local business will be shocked by this announcement.

"The next few weeks will be challenging for everyone involved and I would urge BNY Mellon and the Government to utilise this time to provide necessary supports to the affected employees. It is vital the collective consultation process is not just a box ticking exercise. This time should be used to explore all opportunities to minimise job losses."

He added: "Many of these roles can be done from remote locations. No one should be putting a figure on how many roles can be saved by remote working until the consultation process begins and these matter are worked through. The FSU are currently reaching out to our members offering support and advice throughout the process."

The FSU General Secretary concluded: "We will be operating a special advice line throughout the consultation process to try and broker the best deal possible for all employees affected by this announcement."