Global facilities services company ISS has exited two markets in South America following the sale of its operations in Argentina and Uruguay to Argentine facility services provider, Grupo Serza.
In a statement ISS said the divestment reflects its strategy of focusing on its core business in markets. All employees and customers will be transferred to the new owners on existing terms.
In December the global facilities services company announced its plan to axe 100,000 jobs and exit 13 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 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.
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at email@example.com.
Sign up to INCLEAN NZ’s newsletter.