Although there has as yet been no official confirmation from the company, fears are growing that the jobs of approximately 70 staff at the Yapstone offices at Mellview House in the M1 Retail Park in Drogheda are in jeopardy.
This shock development comes just seven weeks after top executives from the California based fintech company gathered with representatives of the IDA and local business and political leaders to celebrate the tenth anniversary of the company’s European Headquarters in Drogheda.
When the company launched its Drogheda office in November 2017, with an investment of €41m, the promise was for 200 highly skilled engineering and technology jobs to be created over the following five years. This figure was never realised.
“The potential loss of over 70 IDA-backed jobs at Yapstone in Drogheda is a massive blow for the town “said Labour TD, Ged Nash .
“Local staff find this shock announcement difficult to reconcile with the warm words expressed at the recent celebrations.
“I understand that all of the staff in Drogheda have been notified that their jobs are at risk and that the company has informed them of their intention to close what they describe as their ‘Irish entity’.
“IDA needs a relentless focus now on supporting one of Drogheda’s small handful of the agency’s client companies.
“The company needs to be reminded that they are not permitted to make decisions on the company’s future in advance of the completion of the statutory thirty-day consultation process with staff. This cannot be allowed to be a fait accompli.
“The process cannot be a token exercise and the company must first consider all alternatives short of redundancy and closure, and engage in a meaningful way with staff.
“This has been a difficult summer for Drogheda. Without significant government intervention, over forty jobs at Premier Periclase remain at risk and I am leaving no stone unturned in an effort to protect the good manufacturing jobs at the Boyne Road facility.
“Given the scale of the job retention and creation challenge in Drogheda, it is time the government established a specific task force in partnership with local bodies to promote and retain investment in Ireland’s largest town.”
Fine Gael Deputy O’Dowd told Drogheda Life that he too was extremely concerned about the reports of the potential closure and subsequent loss of jobs in Yapstone, Drogheda.
“I recently attended their 10 year anniversary event alongside the management and staff at their headquarters in Mellview House and the company spoke very positively on Drogheda and its future aspirations so this news has come as a complete shock.
“The government must be available to assist the staff who will no doubt be very distressed and upset by this shocking news.
“I immediately contacted the Tánaiste and Minister for Enterprise, Leo Varadkar TD, upon learning of the information and he confirmed to me that his priority at this juncture is to try and support the staff and secure their jobs into the future if at all possible.
“The Tánaiste has asked his officials and the IDA to meet with the company urgently. The government will provide any and all assistance within its remit.”
Drogheda Life spoke to the Executive Vice President of International and Global Customer Operations for Yapstone, Peter Rowan this morning and asked him for a statement but none was forthcoming.
” As I’m sure you can imagine, we are very busy this morning but we will be issuing media statement as soon as possible” he said.
