Hays Warns on Profit as Economic Uncertainty Stifles Recruitment

Recruiter Hays has warned it expects profits to slip in the first half of this year, as economic uncertainty across several key markets disrupts its business, the Financial Times reported. Hays highlighted strikes in France, the slowdown in the German economy, political uncertainty in the UK and the still-raging Australian bushfires as factors behind a “marked” slowdown in fee growth in December, in a trading update on Thursday. Together, these countries account for 45 per cent of the recruiter’s fees. “Each event impacted markets already facing challenging economic conditions and low business confidence,” said chief executive Alistair Cox. Shares in the group fell 7 per cent following the warning in early trading in London. Read more