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Randstad Holding NV, one of the largest staffing firms in the world, said today it plans to cut 489 full-time positions in France and close 85 branches. The reduction is expected to cost euro25 million (US$34.1 million), but save that same amount annually.
The company said it had already planned to close 72 branches in France with the merger of its Randstad France and VediorBis brands; those will be in addition to the 85 being closed as part of the reduction. The 85 branches will be merged into nearby branches.
"A number of our clients have taken drastic measures to face the current difficult market circumstances," said Randstad CEO Ben Noteboom. "While we are a very resilient company, we are not immune to these movements. And while we are stronger today than before, as a result of combining our business in France, these measures cannot be avoided. We very much regret that we have to let valuable and well-regarded employees go."