(By Anthony Miller – Wednesday, 4th March 2009 8:30am). Today’s prelims from Zurich-based staffing giant, Adecco, well illustrate the dire state of the UK jobs market highlighted in a report just issued by the UK Recruitment & Employment Confederation (REC) and KPMG. The report found demand for UK jobs last month declined at its fastest rate for 10 years.Adecco operates multiple recruitment lines in the UK including IT brands Computer People and Ajilon Consulting. Adecco’s UK revenues fell 19% (constant currency) to €312m in Q408 and went into loss, the only country market in the group to do so. Over the full year, UK revenues fell 14% ccy to €1.4bn. Adecco’s IT brands worldwide fell 9% ccy in Q408 to €294m and the same across the year, to €1.2bn. At almost €20bn annual revenues, Adecco is about 10% larger than Netherlands-based archrival, Randstad, also a multibrand player owning such UK names as Select by virtue of it acquisition of Vedior. Randstad, does not break out its IT revenues, however its UK business fell 16% ccy last year.
I hope to be catching up with UK ITSA (IT staff agency) Spring Group CEO, Peter Searle, soon (and see Spring leaps ahead). Peter previously ran Adecco’s key UK IT brands and was CEO of Adecco UK before taking over at Spring. I will bring you more afterwards. By the way, UK-based recruiter Michael Page reports FY08 results tomorrow, and I expect a similar downbeat view (see Michael Page, Hays paint grim UK recruitment picture).
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