BNY Mellon cuts 95% of Wexford jobs

The global financial firm employs approximately 310 employees in the Drinagh office, on the outskirts of Wexford town. There had been widespread reports in recent days that jobs at the firm were in jeopardy. These fears were confirmed on Tuesday morning following a meeting between management and staff where the company has confirmed that it is closing its Wexford office.

BNY established a presence in Ireland in 1994 and services global clients from offices in Cork, Dublin and Wexford. It is believed that the Cork and Dublin sites are not affected by today’s developments.

“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,” the company said on Tuesday.

The company said they will not be commenting during the employee collective consultation process, but it is understood around 5pc of the…