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Randstad Holdings nv announces that it has reached an agreement to sell its salary administration and payroll services in the education sector to Raet one of the leading IT service providers in the field of HR and payroll services in The Netherlands. In 2008 Randstad generated â‚¬18 million from these activities.
In June 2009 Randstad equally sold the payroll services of its subsidiary Gamma Dienstverlening with revenues of â‚¬10 million to Raet. â€œRandstad has reassessed growth ambitions and potential for the payroll administration business as a result of a shift in strategic focus after the Vedior merger. Price pressure, a slower than expected trend towards outsourcing and the economic climate have played into thisâ€VbCrLf Randstad say today in a press release.
The two transactions account for 60% of Randstadâ€™s Dutch salary administration and payroll services. They do not impact on activities where Randstad is the legal employer or payroll services in other countries. The agreement is subject to approval from the Works Council.