Global financial services firm BNY Mellon announced today it will close its Wexford office, affecting 310 employees, as part of the company’s real estate review. Only a small number of staff will be offered remote working opportunities, while others face potential relocation or redundancy.
The closure marks a significant blow to Wexford, a town of 20,000 people, though BNY Mellon’s operations in Dublin and Cork will remain unaffected. The company maintains it will continue its presence in the Irish market, having recently secured new offices in Dublin.
“We continually evaluate our real estate footprint to ensure we are operating efficiently,” a BNY Mellon spokesperson said, confirming the closure but declining to comment further during the employee consultation process, which begins tomorrow.
Enterprise Minister Peter Burke confirmed that staff will have three options: redundancy, remote working, or relocating to Dublin. Local TD James Browne described the decision as “very disappointing” and pledged government support for affected workers.
According to The Journal, the announcement has sparked broader concerns about foreign direct investment in the region. Dr Ray Griffin, lecturer at South East Technological University, highlighted the need for increased IDA involvement in Wexford, noting that the area has not received sufficient investment attention over the past decade.
Paula Roche, CEO of County Wexford Chamber, called the job losses a “significant blow” to the county, while Labour TD George Lawlor revealed that “whole families” employed at the company had been dealing with uncertainty for months about their future.
The company, which has operated in Ireland since 1994, will begin formal consultation with employees tomorrow to discuss redundancy packages and alternative employment options.