The company has fired all its 800 employees.
Sources inform ''Globes'' that Mishmar Security, Cleaning, and Maintenance Services Company Ltd. has gone out of business and fired all its 800 employees, due to financial insolvency. Founded in 1963, Mishmar was one of Israel's largest security and cleaning services firms. Mishmar owner and CEO Yossi Lieb confirmed the report.
Lieb convened the employees yesterday to announce the news. Dismissal notices sent to senior employees stated that the measure was due to "the company's financial difficulties, which resulted from the market situation."
The sources added that dozens of Mishmar employees today petitioned the Tel Aviv District Court for a liquidation order against the company, after they were not paid their October salaries.
Published by Globes [online], Israel business news - www.globes-online.com - on November 12, 2008
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