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Technical difficulties in SIA's Daily News

February 12, 2010

The Staffing Industry Daily News e-mail system is experiencing technical difficulties. However, daily news is updated each business day on Staffing Industry Analysts' Web site, www.staffingindustry.com. Work to fix the difficulties continues. In the meantime, we apologize for the inconvenience.

Atlas shareholders terminate merger with Select

February 12, 2010

Atlas Acquisition Holdings Corp. announced today the termination of its proposed merger with Koosharem LLC that does business as Select Staffing.

Privately held Select Staffing had revealed its plans to become a public company in December. The 11th-largest U.S. staffing firm was to merge with Atlas...

Medical Staffing Network talks with lenders over default

February 12, 2010

Medical Staffing Network Holdings Inc. (OTCBB: MNSW.PK) said it is in discussion with lenders over a default, but hopes to reach new agreements, according to a filing on Feb. 1 with the U.S. Securities and Exchange Commission.

A previous forbearance agreement expired Feb. 1, and the company expects...

Administaff revenue falls 7%

February 11, 2010

Fourth-quarter revenue fell 7.1% at Administaff Inc. (NYSE: ASF) to $395.9 million from $426.0 million in the same period last year.

The Kingwood TX-based professional employer organization reported that average number of worksite employees paid per month in the fourth quarter fell 9.9% while revenue...

Hudson revenue down 12%

February 11, 2010

The Hudson Highland Group Inc. (NASD: HHGP) reported fourth-quarter revenue fell 12.1% on a year-over-year basis to $182.5 million.

Fourth-quarter gross margin at the New York-based professional staffing firm fell to 38.0% from 40.8% in the year-ago quarter.

Hudson reported a net loss of $10.4 million...

Volt reaches agreement with lenders

February 11, 2010

Volt Information Sciences Inc. (NYSE: VOL) said this week it reached agreements with its lenders to extend the time for delivery of its audited financial statements for fiscal year 2009 to May 2010.

Volt is conducting a review and may restate prior years' financial statements. As a result, it hasn't...

U.S. jobless claims fall by 43,000

February 11, 2010

The number of U.S. initial claims for unemployment insurance for the week ended Feb. 6 fell by 43,000, or 8.9%, to 440,000 from the previous week's revised number of 483,000, the U.S. Department of Labor reported today. MarketWatch reported that economists forecast claims would only fall to 460,000....

Kforce fourth-quarter revenue falls 7%

February 10, 2010

Fourth-quarter revenue fell 6.8% at Kforce Inc. (NASD: KFRC) to $224.6 million. The Tampa FL-based professional staffing firm had posted revenue of $241.0 million in the fourth quarter of last year.

Fourth-quarter revenue in technology temporary staffing, the firm's largest segment, fell 5.5% to $116.8...

TeamStaff names new CEO

February 10, 2010

TeamStaff Inc. (NASD: TSTF) named Zachary Parker as its new president and CEO effective Feb. 22.

Parker most recently served as executive VP for business development at VT Group, part of VT Group PLC, providing aerospace and defense services. He had also served as president of VT Group's largest U.S....

Contract watch: PeopleScout

February 10, 2010

PeopleScout announced it signed an agreement to provide recruitment process outsourcing at US Airways. The deal includes employment branding, sourcing, screening, scheduling, offer administration and pre-employment verifications.

US Airways operates more than 3,000 flights per day.

PeopleScout is a...