Payments company Yapstone confirms 'potential job losses' for Drogheda

The news comes just weeks after the company celebrated its 10th anniversary in Ireland
Payments company Yapstone confirms 'potential job losses' for Drogheda

Elaine Keogh

American payments processing company, Yapstone has confirmed job losses may be on the cards at its Irish operation.

The company currently employs 65 people at its international headquarters in Drogheda, Co Louth.

On Thursday evening, Yapstone confirmed it had "regrettably informed" its Irish employees that it would be "entering into a period of consultation with regards to potential job losses".

"We will provide further detail once that consultation process is completed," the company said, adding it had "no further comment to make at this time".

Concerns were expressed on Wednesday after it emerged there was a question mark over the future of the Drogheda operations, coming just weeks after the company marked its 10th anniversary in Ireland.

Responding to the concerns on Wednesday, Minister for Enterprise, Trade and Employment Leo Varadkar described the reports as "really concerning".

"I’ve asked my officials and the IDA to meet with the company to get more information. My priority is the staff and helping the company keep these jobs if at all possible.

"We’ve worked hard to create employment opportunities in all parts of Ireland and have a vision for Dundalk, Drogheda and the surrounding area, to be an economic corridor between Dublin and Belfast, which can compete for opportunities both North and South of the border.

"The Government is on hand to help here in whatever way we can," the Tánaiste added.

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