Daily NewsView All News
Adecco SA announced today plans to cut 350 employees at its Adia division in France. French law requires consultation with French works councils, made up of company management and workers, prior to the change. Adecco plans to make the cuts by the end of this year with the reorganization cost estimated at euro25 million (US$34.6 million).
Also, Adecco SA CFO Dominik de Daniel told Swiss newspaper Finanz und Wirtschaft that the company is not seeing clear signs of stabilization and the global staffing markets will remain challenging through the rest of this year and 2010, Reuters reported today. De Daniel also said the professional staffing segment would slow down, but not to the extent of the general staffing business, according to the report.
In May, Adecco reported its first-quarter revenue had fallen 26.4% year-over-year to euro3.70 billion (US$4.89 billion). Adecco is the world's largest staffing firm.