Hays Sheds Jobs

Hays, one of the UK’s major recruitment firms, is considering additional job cuts as a response to a slowdown in the job market, which has caused profits to decline. The company has already eliminated 1,100 jobs in the past year and is targeting £30 million in cost savings. Profits are expected to drop from £73 million to £60 million, leading to an eight percent drop in the company’s shares. The decline in fees has been most pronounced in the UK and Ireland, with a 16 percent decrease, while other major British companies like Barclays and BT have also reduced their workforces. The job market is experiencing high demand for roles like teachers and delivery drivers, according to job site Indeed.