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Earnings

Adecco Chief Executive sees second quarter as bottom of coronavirus hiring slump

ZURICH (Reuters) - Adecco Group ADEN.S Chief Executive Alain Dehaze expects a downturn in hiring caused by the coronavirus crisis to hit its bottom during the second quarter before a gradual recovery.

“If you look at the second quarter, for sure it will be a difficult quarter, but we expect it to be the trough,” Dehaze told Reuters in an interview after the group’s first-quarter results.

The staffing company’s revenues in April fell 40% year on year, a faster decline than during the financial crisis of 2008-09, Dehaze said.

“We see still a lot of unclarity,” Dehaze said. “I would say overall we are seeing early signs of a gradual stabilisation.”

Reporting by John Revill; editing by Brenna Hughes Neghaiwi

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