The Welsh Government say they ‘will leave no stone unturned’ in supporting Refinitiv workers now facing an uncertain future following the sudden announcement to close its Wrexham site, Economy Secretary Ken Skates has said today.
Staff were informed yesterday that the office is to close, with their work being transferred to Bangalore in India. Previously known as Avox, the company only began trading as Refinitiv after US-owned investors Blackstone took a majority share in the business.
The Economy Secretary today stressed that finding alternative employment for them was something his department were already actively pursuing.
He said: “This is devastating news for not only for the skilled workforce, who have won many plaudits for their professionalism and productivity, but also for their families and the many communities in and around Wrexham who are affected.
“Yesterday’s announcement caught everyone by surprise and my officials are meeting with the site management today to get clarity on the nature and timing of their decision. I expect the company to ensure those affected are properly supported and that it undertakes the 45 day staff consultation in accordance with its statutory obligations.
“I have put my department into action immediately, looking to use our connections across the industry to help secure alternative employment for those currently working at Refinitiv as quickly as possible. This has proven to be successful elsewhere in Wales following job losses and my clear message to all those affected is that we will leave no stone unturned in our support.
“As part of this, we have already contacted colleagues in the UK Government’s Department of International Trade to enquire as to the recruiting plans of the many companies within the financial services industry operating in Chester and the surrounding area and are also in contact with our New York office for more intelligence on yesterday’s announcement.
“Should the decision to close the site be upheld following the 45 day consultation period our ReAct 3 team will be deployed. This programme provides a comprehensive package of support to individuals in Wales who are affected by redundancy.
“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 do everything possible to help this skilled workforce find alternative employment following this extremely disappointing and sudden decision.”
Earlier today Wrexham’s MP raised the issue in Parliament, and Wrexham’s AM also spoke out about the issue. Yesterday Wrexham Council’s Lead Member for Economic Development and Regeneration also said the Council would be looking to offer support.