Polish contract, RPO, and outsourcing company Work Service announced that it has begun the process of selling its foreign subsidiaries including Work Service Czech Work Service Slovakia, as well as Work Service SK, and Work Service Outsourcing Slovakia, which are part of Work Service Slovakia.

Work Service stated that based on the terms of the bond issue from December 2018, that it undertook the process to “sell the subsidiaries and convert their liabilities to other companies from the Work Service group for capital.”
The company did not mention its other foreign subsidiaries which include Work Service Germany, Work Service Russian.

Last year, Work Service announced that it would sell subsidiary Hungarian-based Prohuman Group.

The company added that the sale process of its foreign companies is being conducted in cooperation with advisor Blackwood Capital Group.

Work Service stated that it will make further updates on the next stages of the sale process via separate reports.

In January 2019, Work Service announced that Maciej Witucki has resigned from his role as CEO with effect from 28 February 2019.

In November 2018 Work Service announced that it has completed the sale of all shares in its subsidiary Exact Systems.

The company reported revenue of PLN 1.57 billion (€365.5 million) for the first nine months of 2018, an increase of 0.6% compared with the same period last year.