Hudson Global Inc. reported second-quarter revenue fell 17.7% in constant currency to approximately USD 44.9 million. Revenue at the RPO provider declined in both its Americas and European operations but was almost flat in its Asia Pacific business. Gross margin improved.

“In the second quarter of 2023, lower hiring activity, particularly in the technology sector, led to declines in revenue, adjusted net revenue, and adjusted EBITDA versus the prior year quarter,” CEO Jeff Eberwein said in a press release. “Activity in other sectors remained in line with expectations, and we continued to win new business in the second quarter of 2023.”

Americas revenue fell 40.4% year over year in constant currency, while European revenue fell 33.7%. Within the company’s largest region Asia Pacific (responsible for 53% of total company revenue), revenue edged up 0.6% in constant currency.

Share price

Shares in Hudson Global closed down 2.58% to USD 20.75 on Thursday; they were 16.05% above their 52-week low, according to FT.com.