Robert Walters expects lower fee income for 2026 as global recruitment markets remain weak

Robert Walters plc RWA.Lshares fell 8.4% on January 15, 2026, after the global recruitment firm announced a forecast of declining fee income for its 2026 fiscal year. The warning follows a 14% year-over-year drop in fourth-quarter fee income, a development that prompted brokerage Panmure Liberum to raise its full-year loss forecast for the group. The company, which is based in the United Kingdom GBand operates across 31 countries with 3,300 employees, signaled that persistent weakness in global hiring markets continues to impact its financial outlook.

The fourth-quarter results highlighted significant challenges in European hiring markets, where net fees declined 23% compared to a 17% decline in the prior year. This region represents 30% of total fee income for Robert Walters plc. The downturn in Europe has been attributed to regulatory changes and political uncertainty, which have added to the broader economic uncertainty weighing on demand. Across the global recruitment sector, companies are facing sluggish conditions as businesses delay new appointments and job-seekers remain hesitant to change roles.