PageGroup reports a 12.8% Q1 2024 gross profit drop, particularly in UK and Asia-Pacific, due to slower hiring rates from economic uncertainty.
Recruitment firm PageGroup reports a 12.8% drop in Q1 2024 gross profit, with UK and Asia-Pacific operations particularly impacted. The decline is attributed to slower hiring rates due to economic uncertainty, leading to a 19.2% drop in UK gross profit. PageGroup cut 100 jobs in Q1 and plans to maintain headcount levels after reducing more than 1,000 roles in 2023. Permanent recruitment is more affected than temporary across all markets.
April 15, 2024
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