ISS, the world’s biggest cleaning firm based in Denmark, has announced plans to cut about 100,000 jobs, departing 13 countries which were its least profitable.
Those affected include emerging nations, including Asia and Eastern Europe. The job cuts represent one fifth of the company’s global workforce.
The firm employs some 490,000 employees in total.
The cuts were confirmed in an interview by Bloomberg with company CEO Jeff Gravenhorst. They follow a steep drop in the company’s share price; some 18 percentage points this year alone.
If the plan pushes through, ISS will exit Thailand, the Philippines, Malaysia, Brunei, Brazil, Chile, Israel, Estonia, the Czech Republic, Hungary, Slovakia, Slovenia, and Romania.
One of the world’s biggest employers, Copenhagen-based ISS said the cut will shrink its total workforce to about 390,000 people.
The company will focus more on key accounts, including global banks.
Founded in 1901, the company offers cleaning, support, property, catering, security, and facility management services.
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