133 jobs are to be lost in Cashel, Co Tipperary with the closure of the Johnson & Johnson facility there.

The US multi-national has decided to close its factory and cease operations in the town. Staff are being informed of the decision today.

The company said it was closing the Cashel plant due to its decision to end development and manufacture of a coronary stent as a result of changing market conditions.

Despite news of the jobs cut, Johnson & Johnson said it was committed to Ireland,

'We will explore alternatives for the Cashel site,' commented Bryan Mohally, Vice President, Supply Chain Operations, Johnson & Johnson.

'We will also make every effort to help those who may be affected by any job losses in terms of redeployment within the Johnson & Johnson family of companies where possible, and the provision of outplacement assistance and services,' he added.

BNY Mellon sets up new Dublin arm

Financial services company BNY Mellon has announced plans which could result in 50 new jobs in Dublin over the next two years.

The US company is to create a new company, called BNY Mellon Clearing International, which will be headquartered in Dublin. This will clear futures and derivatives trades on behalf of the bank's clients in Europe, the Middle East and Africa.

The jobs will be in finance, risk management, technology, operations, sales, compliance and legal.

Ireland is now BNY Mellon's second largest location in Europe, employing more than 1,800 people in Dublin, Cork, Wexford and Navan.