Adecco posts Q4 loss, profit slump for 2008
Zurich - Adecco, the largest staffing company globally, said Wednesday it suffered a 22 million euro loss in the final quarter of last year and that its profits for 2008 fell 33 per cent to 495 million euros.
Moreover, the Swiss company's revenues for the entire year fell by 5 per cent to 20 billion euros.
"Looking into the near future, management currently sees no signs of improvement," the company said in a statement.
"The industry was confronted with an exceptionally challenging business environment, particularly during the fourth quarter," said company CEO Dieter Scheiff, adding that losses were cut by "accelerated headcount reductions."
In France, Adecco's revenues fell to 1.4 billion euros in the fourth quarter, a 17 per cent drop compared to the same quarter in 2007. In North America, a similar decline of 16 per cent was reported and in Britain there was a 19 per cent drop. (dpa)
