• Fri. Mar 1st, 2024

Randstad’s Temporary Employment Business Faces Uncertainty Amid Economic Downturn


Feb 13, 2024
Companies are more cautious in hiring due to uncertain economy, says Randstad

In 2023, the Dutch temporary employment group Randstad experienced a decline in turnover and profit. According to their annual figures, 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 fell by 21 percent to 923 million euros, and net profit fell by a third to 624 million euros.

The CEO of Randstad, Sander van ‘t Noordende, explained that the decline was due to the uncertain global macroeconomic environment, which has led to customers and talent being more cautious in their decision-making. Despite these challenging market conditions, Randstad was able to adapt to the situation.

Randstad has faced challenges in recent years due to economic downturns and uncertainty in the job market. As companies become more careful about hiring staff, it has impacted Randstad’s performance in 2023. This trend is likely to continue as businesses look for ways to cut costs and streamline operations amid economic uncertainty.

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