Hudson Global Inc. (NASDAQ: HSON) reported yesterday first-quarter revenue fell 13.4% in constant currency to approximately $43.1 million. Revenue at the RPO provider declined in both its Americas and Asia Pacific operations but rose in its European business. Gross margin improved.

“In the first 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. “Activity in other sectors remains stable, and we have seen a number of new business wins thus far in 2023.”

While European revenue rose year-on-year by 16.1% in constant currency, Americas revenue fell 36.3%, while Asia Pacific revenue fell 7.6%.

Hudson Global set a new 52-week low during yesterday's trading session when it reached $19.68. Over this period, the share price is down -40.06%. Shares closed at $19.90, down 10.2% on the day. The company has a market cap of $56.55 million.