Hays' Quarterly Fees Fall 3% as Permanent Recruitment Remains Weak

3-line summary

• UK staffing firm Hays reported Monday that like-for-like net fees fell 3% in the quarter ended September 30, 2026 (down 5% on an actual basis, reflecting the exit of its Thailand and Mexico businesses and the June 16 sale of operations in the Czech Republic, Denmark, Hungary, Luxembourg, Romania and Sweden), according to Investing.com. September fees fell 2%.
• Permanent-placement net fees fell 7% with placements down 12%, while temporary and contracting net fees fell 1% with volumes stabilizing; Germany (32% of group net fees) fell 6%, UK & Ireland fell 5%, Australia & New Zealand fell 3%, while the Americas rose 9% and Asia rose 6%.
• Hays moved to net debt of about £45 million as of September 30 from net cash of £20.1 million at June 30, cut costs by about £10 million in the quarter, and targets a further £50 million in annual structural savings in fiscal 2027, on top of about £125 million already achieved since the start of fiscal 2024; it is also reviewing divestment options for operations in Belgium, Brazil, Greater China, Malaysia, the Netherlands, Singapore and the UAE to focus on 16 core countries.

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