GEE Group Inc. (NYSEAMERICAN:JOB), a Jacksonville, Florida-based staffing provider, announced April 22 that a strategic review of the company by its board has been completed. As a result, the company won’t move ahead with any share buybacks. However, it will put in place an acquisition strategy and use available capital to bolster growth both organically and by acquisition.

The board unanimously agreed that continuing the company’s “strategic plan for organic growth augmented by recommencing strategic acquisitions executed in a disciplined way is the best approach for maximizing shareholder value at this time,” William Isaac, board member and chairman of the mergers and acquisitions committee, said in a press release.

GEE Group began the strategic review process in December 2023.

“Despite the present macroeconomic challenges and industry specific headwinds, we remain confident about our long-term business and operating strategy,” Chairman and CEO Derek Dewan said in a press release. “We have a strong balance sheet with no debt and believe GEE Group’s best days are ahead of us.”

GEE Group plans to release earnings on May 15.