PAWTUCKET – Bank of New York Mellon Corp. has notified state labor officials that it plans to lay off 103 employees in Rhode Island as it closes a Pawtucket office and relocates to Westborough, Mass.
The financial services giant said in a mandatory Worker Adjustment Retraining Notification to the R.I. Department of Labor and Training that layoffs would take place between June 6 and Oct. 30.
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BNY said in a statement that the 300 employees at the Pawtucket office were offered the option of moving to the Westborough facility. About 200 decided to relocate. The rest will be provided a “severance option,” the company said.
“BNY Mellon’s office lease in Pawtucket is expiring and with adequate space available in the company’s Westborough, Mass., location, relocating operations there was a logical and fiscally sound decision,” said BNY Mellon spokesman Joseph Ailinger Jr. in an e-mailed statement.
The Westborough office currently houses about 900 workers, the company said.
BNY Mellon, which has a wealth management unit in Providence, acquired the Pawtucket office last year as part of the $2.31 billion deal to purchase PNC Financial Service Group Inc.’s global investment servicing business.
