American payment processing company Yapstone has confirmed that there may be job losses at its operations in Ireland.

The company currently employs 65 people at its international headquarters in Drogheda, Colorado.

On Thursday night, Yapstone admitted that it “regrettably” informed its Irish employees that it was “entering a consultation period regarding potential unemployment”.

“We will provide more details once the consultation process is complete,” the company said, adding, “We have no further comment at this time.”

Concerns were expressed Wednesday after it emerged that the future of Drogheda’s business was in question just weeks after the company celebrated its 10th anniversary in Ireland.

In response to concerns on Wednesday, Business, Trade and Employment Minister Leo Varadkar said he was “genuinely concerned” by the report.

“I have asked my staff and IDA to meet with the company to get more information.

“We have worked hard to create job opportunities across Ireland.In addition, Dundalk, Drogheda and the surrounding area have become an economic corridor between Dublin and Belfast, and an economic corridor north and south of the border. We have a vision to be able to compete for opportunities in both.

“The government will support us here in any way we can,” Tanaist added.

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