Tough market dents recruiter

Marion Dakers
RECRUITMENT firm Adecco yesterday warned of a tough year ahead after posting a 14 per cent fall in earnings for 2012.

Swiss-based Adecco, which makes around a quarter of its revenues in the UK and Ireland, said turnover fell three per cent in constant currency to €20.5bn (£17.8bn) in the year, while Ebitda slumped to €725m.

“Most of Europe was challenging and we faced double-digit revenue declines in France, Italy and Iberia,” said chief executive Patrick De Maeseneire.

“Given the current environment, we continue to focus on price discipline and the tight alignment of the cost base to revenue developments.”