Multinational security services company G4S has announced its intention to hire about 100 employees from Pyrsos Security, which announced that it will cease operations on Wednesday.

At present G4S has over 2,500 employees in Greece and is the largest private security group operating in the country. Pyrsos Security, which had about 800 employees before it announced the decision to shut down on Wednesday, had been experiencing major financial problems in the past year and a half.