PageGroup PLC (LON:PAGE) swung to a small half-year loss as global lockdowns hit hiring activity across its market.
The recruiter posted an £800,000 loss before tax in the six months to June 30, from last year’s £74mln profit.
READ: Recruiters PageGroup and Robert Walters see profits plunge as pandemic batters job market
Revenue dropped 20% to £655mln while the period ended with £161mln of net cash.
The FTSE 250-listed firm let go 9% of its employees, or 713, mostly recent joiners or those on performance reviews.
Chief executive Steve Ingham said activity has started to pick up and there have been improvements such as new opportunities, candidates sent to clients, interviews and offers.
“Whilst trading conditions remain unpredictable, we are choosing to invest in the business, returning all our staff to full time working and full pay in the third quarter,” he added.
Shares rose 2% to 378.2p early on Tuesday.
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