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Weak Europe hits Manpower
GLOBAL staffing company Manpower yesterday reported a 16 per cent fall in fourth-quarter profit as a weak European market hurt its margins.
US-based Manpower, which derives most of its sales and profit overseas, has been under pressure from a weak economy in Europe, where many companies have cut back on hiring.
“We are on guard for potential disruption in all markets, particularly Europe, but at this time we do not anticipate any dramatic negatives,” chief executive Jeffrey Joerres said in a statement.
Manpower, the world’s third largest staffing company, generates about two-thirds of its sales in Europe.