Hays PLC (LSE:HAS) confirmed the tough environment for recruiters currently with fees falling by 12% in the final three months of 2024.
Echoing comments this week from rivals PageGroup and Robert Walters, permanent recruitment was worse affected with fees dropping by 19% against 7% for temps.
Permanent hiring was weak in the UK, Europe, Asia and the Middle East, Hays added with profits this quarter now set to be £25 million or the bottom end of market forecasts.
Dirk Hahn, chief executive, added: “Temp & Contracting was sequentially stable through the quarter and our New Year 'return to work' will again be important so we are closely monitoring activity levels.
"Perm net fees slowed but it is too early to say if recent weakness reflects a more sustained market slowdown or shorter-term deferrals of client and candidate decision making. “
Also like its peers, Hays has been pruning its staff to cope with the conditions cutting a further 2% of headcount this quarter to make 15% year-on-year.
Net cash at the end of the period was £25 million.
Shares rose 1% to 73.2p.