Hays quarterly fees beat forecasts as U.S. and Asia growth offsets Northern Europe weakness
A mixed hiring market is continuing to shape performance across major recruitment regions, with stronger demand in some overseas markets helping to balance softer conditions in Europe. Hays says market conditions are expected to remain stable in the near term as the British recruiter also advances talks to exit several international businesses.
Highlights
- Hays reports a 3% like-for-like decline in net fees for the September quarter, outperforming analyst expectations of a 4% drop.
- U.S. and Asia net fees grow 8% and 6% respectively, offsetting declining performance in Northern Europe and helping mitigate overall weakness.
- Hays is in advanced talks to exit operations in Belgium, Brazil, Greater China, Malaysia, the Netherlands, Singapore, and the UAE, indicating a strategic portfolio reshaping.
Quarterly performance and regional trends
As reported by Reuters, Hays posts a 3% like-for-like decline in net fees in the quarter ended September, compared with a 4% decline expected by analysts in a company-compiled poll.Temporary and contracting net fees fall 1%, while permanent placement fees drop 7% as continued weakness in Northern Europe weighs on performance. Net fees rise 8% in the U.S. and 6% in Asia, helping offset the softer European backdrop.
September net fees decline 2%, an improvement from the average quarterly drop of 3%, indicating conditions at the end of the period are less weak than the broader first-quarter trend.
Portfolio changes and sector outlook
Hays says it is in advanced discussions to exit several businesses, including operations in Belgium, Brazil, Greater China, Malaysia, the Netherlands, Singapore and the UAE.The update points to continued pressure in parts of the recruitment sector, particularly in permanent hiring, while demand in the U.S. and Asia provides support. The planned business exits also suggest the company is reshaping its international footprint as it navigates uneven regional market conditions.
Our earlier article on AI-driven labour market changes in Malaysia examined how automation is reshaping job demand, with some roles displaced while new tech-focused positions emerge through 2030. It also highlighted risks of skills mismatches and graduate underemployment, underscoring why employers increasingly prioritise adaptable, value-added skills as hiring needs evolve.
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