Adecco Holds Investor Meeting in Paris
Adecco Group is providing investors with an update on current conditions at its Investor Days 2012 in Paris this week. Company executives say a slowdown in sales worsened over the summer, as job markets in Europe remained hamstrung by the region’s debt crisis. The staffing company reports that revenue fell 4.5% in July and August, compared with a 4% decline in the second quarter. Europe—where Adecco makes 60% of its sales—endured a further slowdown in August as businesses battled anemic demand. Adecco cites a brighter picture for North America, where executives say growth has accelerated since June. The U.S. reported stronger-than-expected jobs growth in July, with a large contribution from the temporary help services sector.
PeopleLink Staffing Solutions Grows
South Bend Tribune (Indiana) (09/19/12) Alice Culp
PeopleLink Staffing Solutions has acquired Elite Personnel Inc., based in Pompton Plains, NJ. PeopleLink has seen a lot of growth in the past few months, says president and chief executive officer of the staffing firm W. Jay Wilkinson, and Elite brings the number of locations the company owns to more than 60. “The company has a lot of strengths,” he says of Elite. “It is very profitable, with a strong customer base that we can expand quickly.” The acquisition will add strength to the company’s Northeast region, including New Jersey, New York, and Pennsylvania.
Kohl’s, Target Diverge on Holiday Hiring
Wall Street Journal (09/18/12) Karen Talley
Temporary holiday hiring will be up by more than 10% year-over-year at Kohl’s, but down slightly at Target, giving a mixed picture of the holiday hiring outlook. Target says that although it intends to add fewer temporary staff this year, 30% of its 2011 seasonal employees were retained by the company for full-year jobs.
Retail industry chief financial officers expect a 3.6% increase in same-store sales for the second half of 2012, in line with their 3.5% projection from a year ago, based on a survey by BDO USA. Therefore, 57% of the retailers surveyed by Hay Group plan to hire the same number of seasonal employees as last year, while 43% intend to use more permanent employees this holiday season than temporary ones, up from 19% a year ago.
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