Hays shares drop 10 percent on 14th fee decline
British recruiter Hays reported its fourteenth consecutive quarterly drop in net fees as weak hiring in Germany and the UK offset growth in the US and Asia. The ongoing European market slump sent company shares down ten percent.
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HAYS PLC posted a 3% decline in net fees during the September quarter, marking its 14th consecutive quarterly drop and sending shares down 10%. The contraction beat the 4% drop expected by analysts and eased from an 8% fall a year earlier. Prolonged weakness in the European jobs market continues to weigh on profitability across the recruitment sector.
