Johnny Mythen (Wexford, Sinn Fein)
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366. To ask the Minister for Enterprise, Trade and Employment to urgently seek a meeting with the CEO and the board of management of a company (details supplied) and the I.D.A. to clarify the current situation regarding the closure of the company in County Wexford; to clarify what the future holds for the 300 staff who work there; and if he will make a statement on the matter. [2357/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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BNY has a strong presence in Ireland, operating here successfully for 30 years. It is one of the largest employers in the International Financial Services portfolio, with over 1,200 staff based in Dublin, Wexford and Cork. It has been in business in Wexford for over 22 years.

The IDA recently informed my Department that BNY had completed an extensive review of all its global real estate assets, and that a decision was taken to close the Wexford office by the end of 2025. In this regard, BNY operates four offices in Ireland – one in Wexford Town, two in Dublin and one in Cork. Our understanding is that operations in Dublin and Cork are not impacted by the real estate review. Ireland remains a key location for the organisation and the company has said that it remains committed to serving its clients and relationships in the Irish market and internationally.

As a result of this company decision, an employee collective consultation process is underway in Wexford. BNY has committed to supporting its Wexford staff through a combination of a competitive redundancy programme, HR supports on training and upskilling, and wellbeing programmes. Discussions are on-going with impacted employees on the specifics of these supports.

A significant portion of the jobs impacted will relocate to Dublin and some will also be available on a hybrid remote working basis. Wexford-based staff are to have the opportunity to take up these roles. The details of the actual number of jobs transferring to Dublin and those available on a hybrid remote working basis are being worked on by BNY. However, the full details will not be known until the statutory "consultation period" concludes and IDA is respectful of that process. Nonetheless, BNY is in regular contact with IDA throughout this process.

Given the significant impact to Wexford and the South-East Region of this closure, IDA is remaining in close contact with Company and ensuring that all available supports are made available to impacted staff. Initiatives to support impacted BNY employees may include:

• Provision of a detailed skills profile for the site; a talent catchment map and timings for when individuals will be available, provided by the company.

• Identification of other employers who may be hiring across IDA and EI client companies. IDA is already aware of employers who may be currently hiring in the wider region/catchment area.

• Sharing of skills profiles with other companies who may be hiring and direct engagement with HR departments, when appropriate through IDA and EI.

• Briefings by local Department of Social Protection/Intreo officials to impacted employees on social welfare and employment support services to support impacted employees’ transition to new employment opportunities.

• Identification of training and further education opportunities for employees (ETBs; Skillnet; Universities)

• Exploring opportunities to start your own business through LEOs and Enterprise Ireland.

Regional development is at the centre of IDA’s strategy and IDA is committed to the pursuit of more balanced regional development to advance national development. The South-East Region includes counties Waterford, Kilkenny, Carlow and Wexford and there are 85 IDA client companies in the region, employing 15,580 people. The FDI performance in the region has seen employment increasing among IDA clients by 15% over the past five years and the South-East has a significant ecosystem of well-established global companies across Technology, Life Sciences, International Financial Services and Engineering & Industrial Technologies which are complemented by research centres that help win new innovative business and assist existing client companies with transformation.

IDA clients spend significantly on their operations in the South-East region with €1.1 billion on payroll, €320 million on Irish services, €237 million on Irish materials and €100 million on in-house research and development.

In the IDA Strategy period, 2021-2024, IDA with Wexford County Council undertook to seek advance planning permission for an Advanced Technology Building in Enniscorthy. This process is well underway. In the course of the 2021-2024 Strategy, IDA has also developed IDA Advanced Building Solutions in Carlow and Waterford to support the winning of investments to the region.

Recent announcements in the South-East include:

• In September 2024, Integer Holdings announced a $60 million expansion at its New Ross site, increasing manufacturing capacity by more than 70% to 215,000 ft².

• In September 2024, UKG announced it would establish its Global Operations Hub creating 200 jobs in Kilkenny City.

• In May 2024, Red Hat (IBM), announced a significant increase in jobs in Waterford, creating R&D roles in security, automation and Hybrid Cloud.

• In September 2023, MSD, announced an expansion to its Carlow site as part of a €1 billion investment in Carlow and Dunboyne creating 670 jobs across the 2 sites.

Ireland and the South-East’s offering as a location for FDI remains robust. BNY’s Wexford office is expected to remain open throughout 2025 and the IDA will work with the company on possible further opportunities for the site after the closure takes effect.