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Companies are more cautious in hiring due to uncertain economy, says Randstad’s findings

ByEditor

Feb 13, 2024

The Dutch temporary employment group Randstad has experienced a decline in its turnover and profit in 2023, as companies are becoming more cautious about hiring staff in the current economic climate. According to the annual figures presented on Tuesday, the group’s turnover fell by 8 percent to 25.4 billion euros, with a 7 percent decline in the Belgium/Luxembourg region. The EBITA profit figure also dropped by 21 percent to 923 million euros, and net profit fell by a third on an annual basis to 624 million euros.

In an explanation for the annual figures, Randstad attributed the decline to the tight labor market and the uncertain global macroeconomic environment. CEO Sander van ‘t Noordende stated that Randstad has managed to adapt to the challenging market conditions.

The decline in turnover and profit for the Dutch temporary employment group Randstad in 2023 has been attributed to cautious hiring practices by companies in the current economic climate. The group saw an 8 percent decrease in turnover to 25.4 billion euros, with the Belgium/Luxembourg region also experiencing a 7 percent decline. The EBITA profit figure dropped by 21 percent to 923 million euros, and net profit fell by a third on an annual basis to 624 million euros.

CEO Sander van ‘t Noordende explained that the decline was due to the tight labor market and the uncertain global macroeconomic environment. He emphasized that Randstad has been able to adapt to these challenging market conditions.

By Editor

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