Hays Faces 90% Profit Plunge Amid Hiring Slowdown

The recruitment giant struggles with low confidence levels and challenging market conditions across key regions.

Hays reported a 90% drop in annual pre-tax profits, significantly impacted by low business confidence and longer hiring times.
The company's net fees fell by 12%, with major markets like Germany, Australia, and the UK showing reduced activity.
Despite the profit decline, Hays remains optimistic about future recovery, focusing on cost management and consultant productivity.
The UK and Ireland division suffered a 78% profit drop, influenced by political uncertainties and subdued recruitment activity.
Hays' CEO emphasized the company's strategic actions to position itself for a market rebound.