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Impellam Group PLC, a Luton, England-based staffing firm, said today it expects earnings for 2008 will be moderately below market expectations. The company also said its headcount and cost base is "being actively managed to reflect the lower levels of activity."
Impellam said September was in-line with its expectations but conditions in October and November became increasingly difficult. The effects have been felt more in direct hire staffing with temporary staffing also feeling the difficult economic environment.
The company, which also has operations in the U.S., will announce 2008 earnings March 2009.