Daily NewsView All News
The Netherlands-based companies will have combined revenue, according to Randstad, of euro17.3 billion (US$25.32 billion). Randstad CEO Ben Noteboom will be CEO of the combined companies And chairman of the combined company will be Fritz FrÃ¶hlich, presently Randstad's chairman. Vedior CEO Tex Gunning will lead an integration team.
No forced layoffs are planned because of the merger, according to Randstad.
The combined company will be the largest staffing firm in
Worldwide, the merged companies will be larger than Manpower Inc. (NYSE: MAN), presently the second-largest staffing firm. Swiss-based Adecco SA will remain the world's largest staffing firm. It had 2006 revenue of euro20.42 billion (US$26.96 billion).
Also on Monday, Vedior announced it received a statement of objections from the French agency charged with investigating competition violations. The statement is one step in proceedings and Vedior will have a chance to rebut the charges. Vedior said it doesn't believe a possible fine would be significant. Manpower and Adecco had also received statements of objections from the French agency. Manpower said the statement stems from a complaint made in 2003 that brought an investigation in 2004 alleging information sharing among companies.