Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2024 04 15T064803Z 1 LYNXNPEK3E05J RTROPTP 4 PAGEGROUP OUTLOOK scaled - Business Express

Recruiter PageGroup’s quarterly profit slumps 13% as hiring remains subdued

Recruiter PageGroup’s quarterly profit slumps 13% as hiring remains subdued

(Reuters) – UK’s PageGroup reported on Monday a nearly 13% drop in group gross profit in the first three months of 2024 due to slow hiring across its markets, and said job flows deteriorated toward the end of the quarter.

Global recruiters have flagged persistent challenges in the hiring market due to low confidence among employees and employers accompanied with a slowdown in the technology sector and slower recovery in China.

“Conversion of final interviews to accepted offers is still the most significant challenge, as candidate and client sentiment remains subdued reflecting the general macro-economic uncertainty in most of our markets,” CEO Nicholas Kirk said in a statement.

The recruiter, which helps hire executives, professionals and clerical staff, reported group gross profit of 219.7 million pounds ($273.79 million), down 12.8% from a year-ago period.

The company said it exited the quarter with an 18% drop in March job flows.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

($1 = 0.8024 pounds)


(Reporting by Prerna Bedi and Yadarisa Shabong in Bengaluru; Editing by Sherry Jacob-Phillips)


Recent Post: