George Lawlor presses government on BNY Wexford closure
George Lawlor questioned the government about BNY's January announcement to close its Wexford facility, which would see 95% of 310 Wexford-based employees transferred elsewhere or made redundant. He asked what the Taoiseach, the minister and the IDA have done more than two months after the announcement and demanded a commitment to attract a replacement financial services employer and to support affected staff.
George Lawlor set out the facts from the January announcement: BNY is to close its Wexford facility, affecting 95% of 310 Wexford-based employees, while BNY operations in Dublin and Cork are not impacted. He highlighted the central question of why Wexford was chosen for the closure.
He asked what discussions the IDA had with BNY in advance of the decision and sought clarity on promises made by the minister in the immediate aftermath to support affected staff and ensure options for the 310 individuals and their families. Lawlor pressed for an update given the passage of more than two months.
Lawlor requested a clear commitment from the Taoiseach and the minister, and through them the IDA, that every effort will be made to find a replacement company in the financial services sector to take the place of BNY in Wexford. He asked whether the minister or the Taoiseach had any progress to report on securing such an investment.
The Taoiseach replied that the minister was not present and that he would raise the issue with the minister. He recalled earlier efforts over nearly two decades to build a financial services presence in the southeast and noted that companies generally make their own location decisions. The Taoiseach said he would pursue further financial services investment into Wexford and seek ways to help employees secure alternative employment.
The Taoiseach indicated potential assistance could include opportunities through Enterprise Ireland companies or further IDA investments to help affected employees find alternative employment. The exchange focused on securing investment for the region and immediate supports for displaced workers.
Immediate issue raised
George Lawlor set out the facts from the January announcement: BNY is to close its Wexford facility, affecting 95% of 310 Wexford-based employees, while BNY operations in Dublin and Cork are not impacted. He highlighted the central question of why Wexford was chosen for the closure.
Questions to the minister and IDA
He asked what discussions the IDA had with BNY in advance of the decision and sought clarity on promises made by the minister in the immediate aftermath to support affected staff and ensure options for the 310 individuals and their families. Lawlor pressed for an update given the passage of more than two months.
Call for replacement employer
Lawlor requested a clear commitment from the Taoiseach and the minister, and through them the IDA, that every effort will be made to find a replacement company in the financial services sector to take the place of BNY in Wexford. He asked whether the minister or the Taoiseach had any progress to report on securing such an investment.
Government response and regional context
The Taoiseach replied that the minister was not present and that he would raise the issue with the minister. He recalled earlier efforts over nearly two decades to build a financial services presence in the southeast and noted that companies generally make their own location decisions. The Taoiseach said he would pursue further financial services investment into Wexford and seek ways to help employees secure alternative employment.
Support options for staff
The Taoiseach indicated potential assistance could include opportunities through Enterprise Ireland companies or further IDA investments to help affected employees find alternative employment. The exchange focused on securing investment for the region and immediate supports for displaced workers.
We publish thousands of recordings to make Irish politics transparent and resistant to manipulation. Spotted an error? Report it — together we are building a reliable archive of Irish politics.
Other speeches
Tego samego dnia All speeches from this day →
Mattie McGrath
Mattie McGrath on banning contractual retirement below pension age
Brian Stanley
Brian Stanley: Calls to rule out domestic water charges permanently
Brian Stanley
Brian Stanley urges immediate prefabs for St. Francis School
Brian Stanley
Brian Stanley calls to end forced retirement and extend work rights
Shay Brennan
Shay Brennan presses for Metro upgrade to Sandiford
Paul Murphy
Paul Murphy on unauthorised scoliosis surgeries and inquiries
Transcript
In January of this year, BNY announced it was to close its Wexford facility with 95% of its 310 Wexford-based employees to transfer elsewhere or be made redundant. Significantly, BNY operations in Dublin and Cork are not impacted by these cuts. The first question to be answered is, why Wexford? Clearly, the cost of both property and operating is higher in Dublin. What discussions did the IDA have with BNY in advance of this decision? Minister Burke promised in the immediate aftermath of the announcement that he would do everything possible to support affected staff and to ensure that there are options available to the 310 individuals and their families. Can the Minister be clear today in setting out what the position is more than two months after the announcement? Financial services are one of Wexford's economic focuses. So I'd like a clear commitment from both the Taoiseach and the Minister and through him the IDA that every possible effort is being made to find a replacement company in the financial services sector to replace BNY. Has the Minister or the Taoiseach any progress to report on this? Thank you, Deputy Lord. The Minister isn't here, but I will raise this issue with the Minister. I can rarely recall there was a determined attempt over nearly two decades ago now to create a financial services presence and hope and footprint in the southeast, Waterford-Wexford in particular, Kakenny, State Street and Kakenny and so on. To a certain extent that got traction and that's why BNY has made the decision it has. I wasn't involved in the discussions obviously between the IDA and the company. The company generally tends to make these decisions themselves, maybe it's to do with trends within the company or particular issues. But I will talk to the Minister in respect of the employees because we will certainly do everything we can to get a further financial services investment into Wixford, but also in particular to see can we help the employees to secure alternative employment either through enterprise Ireland companies or through further investments via the IDA. Thank you, Taoiseach, and we're ready.