Workers at US-headquartered IT services firm Kyndryl are being balloted for industrial action after what the Financial Services Union (FSU) described as a breakdown in discussions over an established redundancy agreement.The IBM spin-out provides tech support services for financial services companies including Bank of Ireland. That agreement was put in place after a previous round of redundancies in 2024 when workers were also balloted for industrial action. In a statement on Wednesday, the FSU said that discussions on redundancy terms for some employees had been ongoing for “some time”. Caitleen Desetti, industrial relations organiser at the FSU, said the union has a collective agreement covering employees who were transferred to Kyndryl from some of the firms to which it provided services. “This agreement has not been honoured by Kyndryl, and after feedback from our members, the council of the FSU has agreed to ballot for industrial action,” she said. Aer Lingus job cuts and Ryanair’s profits plunge - what is happening in the Irish aviation sector? Listen | 41:54Ballot papers are due to be issued today, and voting will close on August 19th.Desetti added: “If the ballot is passed, a decision will be made at that stage on the nature, timing, and duration of any action.“It is unfortunate that the intense discussions that have taken place over the last number of weeks did not resolve the issue. Our members are adamant that the FSU collective agreement needs to be honoured.”Kyndryl employed some 201 people at the end of March 2025, according to its most recent set of financial filings, down from more than 240 people in 2023.The company reported an operating loss of almost €6.5 million in that financial year, up from a €245,000 operating profit in the previous year.Kyndryl is the managed infrastructure services business that was spun out of IBM in November 2021. It serves enterprise customers in more than 60 countries, designing, building, managing and modernising complex information systems.