Falling imprisonment hurts company
By The Holland Times Tue. 7 May 2013
A drop in the amount of incarcerated citizens might seem like a good thing; but for one company that supplies services to Dutch prisons, it could spell disaster, reports the London Evening Standard.
British company G4S provides staff for prisons in the Netherlands and the recent trend of falling prisoner numbers looks set to have an adverse reaction on the company as government plans to close 30 prisons get underway.
The Netherlands has experienced a drop in its prison population in recent years, with numbers falling from 14,100 in 2005 to 11,000 by 2009. This is mostly due to a switch from imprisonment to fines, community service, electronic tagging and other measures, prison officials claim.
While many view falling prisoner numbers as a positive thing, G4S has issued a profit warning and seen its shares fall by ten percent due to the “continued challenging economic and trading conditions in continental Europe.”
(Photo: Miss Millions)