Hays PLC, one of the largest European-based staffing firms, announced today that net fees fell by 27% year-over-year in its fiscal third quarter ended March 31. Net fees fell 31% on an organic basis excluding the effects of currencies. The London-based staffing firm also said it cut headcount by 11% during the quarter and closed 14 offices.

Net fees for temporary workers fell 10% year-over-year, while direct hire net fees were down 43%.

In the United Kingdom and Ireland, net fees fell by 37% year-over-year with market conditions deteriorating, the company reported.

Hays also announced it began operations in India and Russia.