Location of affected unit(s)
All over Greece
Administrative Services
Security And Investigation Activities
Private Security Activities
80.10 - Private security activities

800 jobs
Number of planned job losses
Job loss
Announcement Date
1 June 2016
Employment effect (start)
1 June 2016
Foreseen end date
30 June 2016


Pyrsos Security, one of the largest Cash-In-Transfer companies in Greece, is closing down and its 800 employees across the country are to become jobless.

According to press announcements (June 1, 2016), that have been confirmed by the Panhellenic Federation of Employees in Money Transfers and Security Guards,  the 800 employees of Pyrsos Security have been informed by bank executives about the company’s immediate closure. The information indicates that the company's closure was recommended as it has been facing serious financial problems since 2015 and there have been many complaints from employees regarding delays in payment that have accrued up to eight months.

PYRSOS Security was established in July 1994. Initially the services provided were Vigilance and Security Engineering to private and state-owned enterprises. In January 1998 the company expanded its services in the Cash-In-Transfer area by purchasing several armoured vehicles from Spain. The company has been a member of European Security Transport Association (ESTA) since 2000.


  • 1 June 2016: Ethnos
  • 1 June 2016: Imerisia


Eurofound (2016), Pyrsos Security, Closure in Greece, factsheet number 87638, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/87638.