(Adds CEO comment, background)
April 14 (Reuters) - British recruitment firm Hays Plc said on Friday client and candidate activity remained
solid in its temporary and contracting segment as corporates
navigated broader economic uncertainties and rethought their
permanent hiring plans.
The global recruitment industry is in the middle of a
downturn as sticky inflation and recession fears push companies
to cut jobs or freeze hiring, while temporary and contract jobs
perform better than permanent roles as employers bide time and
try to minimise potential risks.
A slew of major U.S.-based technology firms have started or
are set for massive layoffs to rein in costs to ride out the
economic slowdown.
"Our key markets continue to be characterised by acute skill
shortages and wage inflation, and we are benefiting from our
early management actions to increase fee margins in skill-short
markets," CEO Alistair Cox said in a statement.
London-based Hays, which largely focuses on white-collar
roles and counts technology as its biggest sector, said
like-for-like net fees rose 5% to record levels in the three
months ended March 31.
Fees from the temporary hiring segment grew 11% while those
from the permanent division fell 2% as placement volumes
declined, driven by reduced client and candidate confidence.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Subhranshu Sahu)
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