Hays PLC's (LSE:HAS) upcoming first-quarter trading update next Friday (11 October) will leave investors eyeing any clues that the landscape for recruiters has improved.
Coinciding with a rapid slowdown in hiring across its primary markets in Germany, Australia and the UK, shares in the recruitment firm have fallen over 17% this year.
This has taken the stock to lows last seen as the pandemic struck in 2020, as lockdowns led employers to slam the breaks on hiring.
Hays appeared in the thick of the more recent downturn when it reported full-year results in August.
These showed net fees down 12% on a like-for-like basis, with operating profit falling by 46%.
Investors will therefore be awaiting any updates on the outlook for the recruitment sector, alongside news on Hays’ efforts to save £30 million a year in structural costs by 2027.
Jefferies brokers previously dubbed such “decisive actions” as a positive while Hays rides out the weaker period.
Hays had said conditions over the the start of the new financial year were as expected in July and August, leaving focus on September and the “key trading month of the quarter”.