"The company would not disclose exactly how many workers in Cork will be affected by the decision. It is thought that about 200 are employed there. Four years ago BNY told the Central Bank that of the 1,200 it employed in Ireland, only 360 were based in Dublin. Known as the world's largest custodian bank, it was formed from the merger of the Bank of New York and Mellon Financial Corporation in 2007, and is a leading depository for offshore funds domiciled in Ireland."
"At BNY we continually evaluate our real estate footprint to ensure we are operating efficiently. We are intending to close our Cork office. For affected employees we have commenced a consultation process. We remain committed to serving our clients and relationships in the Irish market and internationally. The company would not disclose exactly how many workers in Cork will be affected by the decision. It is thought that about 200 are employed there."
"The New York-headquartered firm moved into four floors of the eight-storey Shipping Office on Sir John Rogerson's Quay earlier this year, merging two offices in the city. The new space was billed as having room for up to 800 people. It is understood that BNY intends to lease a fifth floor of the offices, in order to accommodate more staff."
BNY Mellon has operated in Ireland since 1994 and closed its Wexford office in January, affecting about 300 workers, some of whom moved to an expanded Dublin headquarters opened this summer. A spokesperson said the firm regularly evaluates its real estate footprint and is intending to close its Cork office, with a consultation process under way for affected employees. The company did not disclose exact headcount for Cork, which is thought to employ about 200. The bank will keep a presence in Cork until 2027 and make office space available for remaining staff. Some Cork roles will migrate to Dublin, while others will face redundancies.
Read at Irish Independent
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