Global facilities services company ISS has announced plans to axe 100,000 jobs as it exits 13 markets.
ISS intends to withdraw from mainly emerging markets including Thailand, Philippines, Malaysia, Brunei, Brazil, Chile, Israel, Estonia, Czech Republic, Hungary, Slovakia, Slovenia and Romania.
These countries represent 12 per cent of the group’s revenue and 8 per cent of its operating profits. The process is expected to be completed by 2020, with the number of customers to be to reduce by 50 per cent (from 125,300 to around 62,700). The number of employees is expected to reduce by 20 per cent (from 490,000 to around 390,000).
ISS, which offers service including cleaning, catering, security, property and support services and facility management, said it will focus on key accounts and anticipates organic growth to accelerate to 4-6 per cent from 2019.
“We must focus our capital and resource on those customers, services and geographies that can truly benefit from our future investment,” group CEO Jeff Gravenhorst said in a statement.
ISS currently has employees and activities in more than 70 countries across Europe, Asia, North America, Latin America and Pacific, serving thousands of both public and private sector customers. ISS has more than 12,000 employees across Australia and New Zealand.
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