Keller Group to cut 700 jobs in four countries

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

BENGALURU: Ground engineering contractor Keller Group Plc said it would exit its heavy foundations activities in Singapore and Malaysia and scale back in Brazil and South Africa, leading to 700 job cuts.

Keller Group expects to take an exceptional restructuring charge of about £57mil (S$100.1mil) in its full-year results.