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American Vantage lays off recruiters

February 3, 2009

American Vantage Companies (OTCBB: AVCS.PK) said Monday it cut its full-time recruitment staff at its Candidates on Demand Group Inc. subsidiary. American Vantage also announced the closure of Candidates on Demand's North Palm Beach FL, Dallas and Lyndhurst NJ offices. In addition, the company sa...


Kforce to take noncash charge

February 3, 2009

Kforce Inc. (NASD: KFRC) said Monday it will take a noncash impairment charge of $130 million to $145 million in the fourth quarter, but that fourth-quarter revenue before the charge will come in above its guidance of $230 million to $238 million. The noncash charge is based on goodwill and oth...


Comsys plans goodwill impairment charge

February 3, 2009

Comsys IT Partners (NASD: CITP) said it will take a noncash charge for goodwill impairment in the fourth quarter and expects to report a loss for the quarter and the year ended Dec. 28. The charge will cover some or all of the $175.0 million in goodwill the company had as of Sept. 28. The impairm...


PEO revenue up 13.7% at ADP

February 3, 2009

Professional employer organization revenue at Automatic Data Processing Inc. (NYSE: ADP) rose 13.7% year-over-year to $283.4 million in its fiscal second quarter ended Dec. 31, 2008, the company reported today. ADP said the average number of worksite employees in its PEO services program rose 13%...


Heidrick buys Warsaw office

February 3, 2009

Heidrick & Struggles International Inc. (NASD: HSII) completed its acquisition of the Warsaw, Poland, office of executive search firm Ray & Berndtson. The acquisition increased the number of Heidrick consultants in the region by seven. Terms of the deal were not announced.


SeatonCorp says earnings up 14%

February 3, 2009

SeatonCorp, a Chicago-based staffing and recruiting firm, said fourth-quarter earnings rose 14% year-over-year largely due to new client signing in 2008. SeatonCorp said it had $76 million in new-client signings for full-year 2008. Exact revenue numbers were not released. SeatonCorp's divisions i...


SeatonCorp says earnings up 14%

February 3, 2009

SeatonCorp, a Chicago-based staffing and recruiting firm, said fourth-quarter earnings rose 14% year-over-year largely due to new client signing in 2008. SeatonCorp said it had $76 million in new-client signings for full-year 2008. Exact revenue numbers were not released. SeatonCorp's divisions...


Manufacturing's rate of decline slows

February 2, 2009

Economic activity in the U.S. manufacturing sector slowed in January, but the rate of decline was not as fast as in December, the Institute for Supply Management reported today. The institute's key purchasing managers' index for manufacturing had a reading of 35.6 in January, up from 32.4 in De...


France fines Adecco, Manpower, Randstad

February 2, 2009

The French Competition Council issued fines against Adecco SA, Manpower Inc. (NYSE: MAN) and Randstad Holding NV totaling euro94.4 million (US$121.0 million) for alleged anti-competitive practices between March 2003 and November 2004. Manpower said it would appeal the council's ruling. Adecco and...


Research from Staffing Industry Analysts

February 2, 2009

Here is the latest research from Staffing Industry Analysts. BRIEFING - Staffing Industry Stock Index analysis *SISI down 16.3% in January; no gainers*Kelly down more than 30% in January*Index adjusted: Medical Staffing Network and Gevity removed; Comsys IT*Partners added CITATION - Who's who in...