BNY downsizing with 150 job cuts in Edinburgh

BNY Mellon, the global financial services company, will cut 150 jobs in Edinburgh as it downsizes its operations in Scotland.

The company has been in consultation with its 400-strong workforce at Capital House in Festival Square over the past two weeks about relocating to smaller premisess.

Daily Business and The Edinburgh Reporter revealed on 21 January that an undisclosed number of jobs will go. A source now says 150 staff will be affected and that some will be offered roles in Manchester.

The lease on Capital House is expiring, and the company has opted to relocate. It is not known where that will be, but the offices will be smaller. The company is also closing its office in Wexford, Ireland, employing 310 staff.

A spokeswoman for the company said: “We will not be commenting during the employee collective consultation process.”

Last month she said the company continually evaluates its real estate footprint to ensure it is operating efficiently.

Capital House was put up for sale last year by owner Federated Hermes with a price tag in excess of £13 million. 

The bank has ten offices in the UK and has had a presence in the country for more than half a century.