Wales

Refinitiv confirm 300 jobs losses in Wrexham

The building on the industrial estate Image copyright Google
Image caption Finance risk company Refinitiv is based in Wrexham

About 300 jobs will be lost following the decision by a financial services company to close its North Wales site, it has been confirmed.

Refinitiv announced a consultation on the proposed shutting of its office in Wrexham in October.

It has confirmed the closure saying it is concentrating its operations to "drive results for our customers."

The town's MP Ian Lucas branded the company a "disgrace" for making so many "loyal workers" redundant.

The office, on Wrexham's Industrial Estate, provides services including data analysis for banks and financial organisation.

It was previously owned by global giant Thompson Reuters, who set up Refintiv as a standalone company just four months ago in July 2018.

Image caption Wrexham MP Ian Lucas branded the closure "a disgrace"

Mr Lucas said: "While this news may not be a surprise, it is still desperately disappointing.

"Clearly, the decision to move the jobs in Wrexham elsewhere was made before any real consultation took place and it is a disgrace that companies can treat loyal workers in this way."

The company said it would help staff secure new jobs.

However there was anger among workers, who claimed some staff were sent to Bangalore in India to train people who may end up taking their posts.

Bangalore could be one of the new sites as the company "focuses operations" in larger centres.

Image copyright Google
Image caption The company specialises in date for financial firms

A spokesperson from Refinitiv said: "After consulting with our Wrexham-based colleagues and their representatives, regrettably we have confirmed the need to close our site in Wrexham.

"We fully recognise the impact that this decision has on the Wrexham community and are absolutely committed to supporting our colleagues with enhanced programmes in place to help them secure alternative employment."

Economy Secretary Ken Skates said: "This is an extremely difficult and uncertain time for all workers at Refinitiv and I can give them my absolute commitment that Welsh Government will continue to do everything possible to help."

More on this story