American firm Yapstone confirms ‘potential job losses’ for Drogheda

Yapstone, an American firm that processes payments, has revealed that job layoffs may be in the works at its Irish operation.

The firm now has 65 employees working at its global headquarters in Drogheda, County Louth.

On Thursday evening, Yapstone confirmed it had “regrettably informed” its Irish employees that it would be “entering into a period of consultation with regards to potential job losses”.

“We will provide further detail once that consultation process is completed,” the company said, adding it had “no further comment to make at this time”.

Just weeks after the firm celebrated its tenth anniversary in Ireland, doubts were sparked on Wednesday when it became apparent that the future of the Drogheda operations was in doubt.

Responding to the concerns on Wednesday, Minister for Enterprise, Trade and Employment Leo Varadkar described the reports as “really concerning”.

“I’ve asked my officials and the IDA to meet with the company to get more information. My priority is the staff and helping the company keep these jobs if at all possible.

“We’ve worked hard to create employment opportunities in all parts of Ireland and have a vision for Dundalk, Drogheda and the surrounding area, to be an economic corridor between Dublin and Belfast, which can compete for opportunities both North and South of the border.

“The Government is on hand to help here in whatever way we can,” the Tánaiste added.

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