Business · Companies · 9 hrs ago
Hays reports weaker permanent hiring as quarterly fees fall 3%
Hays, a London-headquartered recruitment company, said its net fees fell 3% in the three months to September 30.
Fees from permanent hiring fell 7%, as employers remained cautious about taking on staff.
In the UK and Ireland, Hays’ net fees fell 5%, with permanent hiring fees down 9%.
The company said permanent hiring was stronger in North America but remained fragile in Northern Europe.
Hays shares fell as much as 12% after the update and later traded about 7% lower.
The company is reviewing its business footprint and has closed or sold operations in several countries as it focuses on 16 core markets.
It is also seeking more specialised roles and says cost and productivity changes are progressing; its chief executive said the company’s medium-term targets remain achievable.
Hays reported that net fees fell 3% on a like-for-like basis in the quarter to September 30.
Fees from permanent hiring fell 7%, which the company said reflected mixed activity across regions.
In the UK and Ireland, net fees fell 5%, including a 9% drop in permanent hiring fees.
Hays shares fell as much as 12% in early trading on Monday before settling around 7% lower.
The company said it was reviewing its operations in several markets and pursuing a more focused geographical footprint.
- Who
- Hays, the global recruitment company.
- What
- Net fees fell 3% on a like-for-like basis, with permanent hiring fees down 7%.
- When
- In the first quarter to September 30; the trading update was reported on Monday, October 12, 2026.
- Where
- Hays operates globally and is headquartered in London; the update cited regional results including North America, Northern Europe, and the UK and Ireland.
- Why
- The fall was largely driven by weaker permanent hiring. Hays said activity remained mixed, with strong growth in North America and fragility in Northern Europe.
Hays
Russ Mould
Trading conditions
Hays
Hays said permanent activity remained mixed, with sustained strong growth in North America and ongoing fragility in Northern Europe.
Russ Mould
Mould said the job market was “as tough as ever, particularly for permanent roles” and that the figures showed companies lacked confidence.
Response to a difficult market
Hays
Hays said it was making progress on cost and productivity initiatives and focusing its geographical footprint.
Russ Mould
Mould said the company needed to adapt, including pivoting to more vibrant regions and being selective about roles.
Hays recorded a 3% like-for-like fall in net fees and a 7% fall in permanent hiring fees.
Hays issued a trading update and its shares fell as much as 12% in early trading before settling around 7% lower.
- Overall net fees
- Down 3% like-for-like
- Permanent hiring fees
- Down 7%
- UK and Ireland net fees
- Down 5%
- UK and Ireland permanent hiring fees
- Down 9%
- Share price move
- Fell as much as 12% in early trading; later around 7% lower
What people are saying
Permanent activity remains mixed with sustained strong growth in North America but ongoing fragility in Northern Europe.
the job market was “as tough as ever, particularly for permanent roles
While Hays has put a positive spin on the period, the numbers speak for themselves.
In response, the group is streamlining its strategy including a more focused geographical footprint as well as looking to recruit for more specialised positions which are expected to be less impacted by AI.
Sources
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