Tech Mahindra Q4 revenue slips 6.4%, optimistic about upcoming year

IT services giant Tech Mahindra Ltd. reported revenue fell 6.4% in constant currency as measured in US dollars to $1.55 billion in its fiscal fourth quarter ended March 31. The decline took place across geographies and most industries. Fourth-quarter revenue from the manufacturing industry rose.

“As...

ASGN revenue slips in Q1 despite growth in consulting

ASGN Inc. (NYSE: ASGN) reported a boost from consulting revenue in the first quarter, but assignment revenue at the Richmond, Virginia-based firm slipped.

Overall, total revenue at ASGN fell 7.1% year over year in the first quarter to approximately $1.05 billion.

The company said assignment revenue in...

Economic growth slows in Q1, with GDP below expectations

Growth in US gross domestic product slowed in the first quarter when compared to the fourth quarter of 2023.

GDP rose at an annual rate of 1.6% in the first quarter, the US Bureau of Economic Analysis announced today. That’s down from an annual rate of 3.4% in the fourth quarter.

The growth rate is below...

Jobless claims fall by 5,000; at lowest level since February

US initial jobless claims fell by 5,000 in the week ended April 20 to a total of 207,000, the US Department of Labor reported today. The previous week’s level was unrevised. Claims were at their lowest level since the week of Feb. 17.

The four-week moving average of initial jobless claims fell by 1,250...

Majority prefer hybrid or in-person schedules, ASA reports

More than half of Americans, 68%, prefer a hybrid or in-person work schedule, according to a poll commissioned by the American Staffing Association. It found that 39% prefer a hybrid schedule — partly in-person and partly remote. And 29% prefer a full return to the office.

Nearly a third, 32%, prefer...

More time to send 40 Under 40 nominations with deadline extension

The deadline to send nominations for SIA’s 2024 40 Under 40 recognition list has been extended to 11:59 p.m. Eastern time on May 1.

The list honors the achievements, ambition and influence of up-and-coming staffing professionals who are taking the industry to the next level. The list is not a ranking...

Sponsored: How to tame your out-of-control ‘Frankenstack’

Don't let a patchwork monster of mismatched technologies drag you down. Here are four things to consider when evaluating a recruiting technology solution.

In theory, technology is supposed to make recruiters more efficient and productive, helping staffing firms scale and grow.

In practice, it may be doing...

FTC bans worker noncompete agreements

Noncompete agreements in worker contracts will be banned under a final rule approved April 23 in a 3-to-2 vote by the Federal Trade Commission. Such agreements can restrict employees from working for a company’s competitors for a period of time within a specified geographic area after the worker leaves...

Biden administration boosts overtime pay salary thresholds

The US Department of Labor on April 23 increased the salary thresholds required to exempt a salaried executive, administrative or professional employee from federal overtime pay requirements. 

Effective July 1, the Fair Labor Standard Act’s salary threshold will increase to the equivalent of an...

Groupe Crit temp revenue falls 1% amid weak economic growth

Groupe Crit SA, a Paris-based international staffing provider, reported weak global economic growth weighed on temporary work revenue in the first quarter. While French temp staffing revenue held steady, revenue from Groupe Crit’s US temp staffing operations fell.

Temp staffing first-quarter revenue...