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Adecco Holds Investor Meeting in Paris

Reuters (09/19/12)

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.