Source Pravda.Ru

Adecco Posts 2Q Net Loss

Tuesday that it swung to a second-quarter net loss of 147 million Swiss francs, hurt by impairment charges on goodwill and intangible assets. Last year the firm posted a profit of 212 million euros. Adecco said that it doesn't anticipate a material pick-up of business activities and has initiated further restructuring measures although it did note that revenue decline rates appeared to have stabilised over the quarter and into July. Adecco also said that it has made an offer to buy staffing firm Spring Group for 62 pence in cash, or 108 million pounds in order to strengthen its position in the U.K. , MarketWatch reports.

"We were able to take out costs during the second quarter," said Chief Executive Patrick De Maeseneire.

"Meanwhile, pressure on the decline rates has eased over the course of the second quarter. But we really have to wait until September, after the summer break, to have a better view how the market develops," he added , Wall Street Journal reports.

The company, led by Chief Executive Officer Patrick De Maeseneire since June, said today it will offer 62 pence for each share of London-based Spring, valuing the target company at about 108 million pounds ($178 million). Spring Group focuses on recruitment of professional workers for technology companies.

Adecco said will start additional restructuring measures that will lead to charges of about 40 million euros in the second-half. The company has already announced job cuts in France this year , Bloomberg reports.

Comments
Russia will not let NATO warships into Sea of Azov
Putin: Russians will go to heaven in case of nuclear war
Putin: Russians will go to heaven in case of nuclear war
Putin: Russians will go to heaven in case of nuclear war
Putin: Russians will go to heaven in case of nuclear war
Putin: Russians will go to heaven in case of nuclear war
Putin: Russians will go to heaven in case of nuclear war
Putin: Russians will go to heaven in case of nuclear war
Is Putin guilty of the Kerch school massacre?
Is Putin guilty of the Kerch school massacre?
Putin blames globalisation for Kerch school shooting that claimed 21 lives
Russian opposition MPs accept pension reform without a fight
Russia delivers technologically advanced S-300 systems to Syria
"Nikki" Haley and the poisoner in the kitchen
US official lashes Europe for working on Nord Stream 2
Bill Clinton's Oval Office disgrace destroyed Yugoslavia
Russian opposition MPs accept pension reform without a fight
Putin: Russians will go to heaven in case of nuclear war
Putin: Russians will go to heaven in case of nuclear war
Russian 'spies' Petrov and Boshirov say they work in fitness industry
Is Putin guilty of the Kerch school massacre?