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Employment index points to more job losses

January 12, 2009

The Conference Board's employment trends index fell in December, and the organization's senior economist said the U.S. could lose another 2 million jobs in 2009. The index declined to a reading of 99.6 in December from November's revised reading of 101.2. Year-over-year, the reading is down almos...


Leading index up, but still recessionary

January 9, 2009

The growth rate for the Economic Cycle Research Institute's weekly leading index measuring the U.S. economy contracted 26.8% in the week ended Jan. 2; it had contracted 28.7% in the prior period. The index level is now 109.4. "While [weekly leading index] growth has inched up over the past four w...


United Kingdom - Michael Page, Hays, NES Group

January 9, 2009

London-based staffing firms Michael Page International PLC and Hays PLC said tough economic conditions weighed on earnings in the fourth quarter with Michael Page announcing a reduction in headcount. But NES Group Ltd., a technical staffing firm based in Altrincham, England, said this week that r...


TSR revenue slips 12.9%

January 9, 2009

TSR Inc. (NASD: TSRI), a Hauppauge NY-based information technology staffing firm, said Thursday that revenue fell 12.9% to $11.5 million in its fiscal second quarter ended Nov. 30. And the company said economic conditions will likely affect earnings for the remainder of its fiscal year. "The dete...


Research from Staffing Industry Analysts

January 9, 2009

Here is the latest research from Staffing Industry Analysts. Predictions - The year ahead*Economy looms large, difficult year foreseen*Consolidation among staffing firms expected*Gross margins likely to come down a bit


Contract worker cuts - Schlumberger, Protective

January 9, 2009

Companies laying off contract workers include Schlumberger Ltd. and Protective Products of Amercia, according to news reports. The Associated Press reported that Schlumberger Ltd., a Houston-based oilfield services company, plans to lay off 1,000 of its 19,000-member North American workforce wi...


United Kingdom - Michael Page, Hays, NES Group

January 9, 2009

London-based staffing firms Michael Page International PLC and Hays PLC said tough economic conditions weighed on earnings in the fourth quarter with Michael Page announcing a reduction in headcount. But NES Group Ltd., a technical staffing firm based in Altrincham, England, said this week that...


Randstad to cut staff in France

January 9, 2009

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...


Contract worker cuts - Schlumberger, Protective

January 9, 2009

Companies laying off contract workers include Schlumberger Ltd. and Protective Products of Amercia, according to news reports. The Associated Press reported that Schlumberger Ltd., a Houston-based oilfield services company, plans to lay off 1,000 of its 19,000-member North American workforce with...


Tough economy sends Pasona revenue down

January 9, 2009

Tokyo-based staffing firm Pasona Group Inc. reported today that revenue fell 2.9% year-over-year to 116.09 billion yen (US$1.22 billion) in the first six months of its fiscal year amid difficult economic conditions. Revenue fell 4.3% in its temporary and direct hire staffing business to 105.16...