TSYS to cut 109 staff in Northern Ireland despite £556,000 public funding

  • Payment processing firm TSYS is planning to axe 109 jobs in Belfast and Derry as it transfers roles to the US and Manilla.

    US-based credit card processing group TSYS plans to cut over 100 jobs in Northern Ireland following its acquisition by global corporation Global Payments Inc last year. The jobs are being moved from the company's Belfast and Derry offices to other sites in the US and Manilla.

    A total of 109 redundancies will hit the company's NI customer services team, raising some uncomfortable questions about public funding the company received just a few years ago to fund that department. Back in 2016, the firm (then known as Cayan) was offered £680,000 by Invest NI in order to create 170 new customer service roles.

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    TSYS has already been paid £556,000 for creating 139 of its planned roles with the expectation that they would be permanent, but most are now being let go. Invest NI is investigating whether it can claw back any of the funds under the terms of its contract with the company.

    Economy Minister Diane Dodds said that the redundancies won't affect the firm's engineering workforce in Northern Ireland, which currently employs around 100 people. She could not confirm whether Invest NI would be able to claw back any funds from TSYS for the lost roles.

    Source: Irish News

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