My priority from the outset has been that any decision taken by Bank of America should have minimal impact on employees at the Carrick on Shannon operation and ensure that jobs are maintained at the facility. I emphasised this when I met with Senior Bank of America Executives in their Headquarters in Charlotte, North Carolina in September. I am advised that the process regarding the sale of Bank of America's Irish and UK credit card businesses has not been unduly impacted by the ongoing Eurozone difficulties.
There has been considerable interest in both the MBNA Ireland portfolio and the MBNA UK portfolio, which are likely to be sold separately, with negotiations regarding the sale of the MBNA Ireland portfolio considerably advanced.
IDA has met the relevant parties, is monitoring the situation closely and is providing relevant input into the process as it moves forward. IDA is in regular contact with local Bank of America management in Carrick-on-Shannon and Dublin and at corporate level to monitor developments.
On 7 November 2011 Bank of America announced 102 redundancies in the Carrick-on Shannon centre and a further 150 in its Chester (UK) centre. These roles will go by year end 2011, with the company hoping to achieve these on a voluntary basis. This decision, according to local Bank of America management, had been made in principle several months ago, prior to the group's decision to exit its international credit card business.
