Recruiter Hays warns global slump in hirings will halve its profits

Hays said demand for new permanent staff had fallen sharply, reflecting ‘low levels of … confidence as a result of macroeconomic uncertainty’. Photograph: Dado Ruvić/Reuters

A slump in hiring activity at businesses around the world means profits will more than halve at Hays, the global recruitment company has warned, sending its shares down more than 10%.

Demand for new permanent staff has fallen sharply, reflecting “low levels of client and candidate confidence as a result of macroeconomic uncertainty”, Hays told investors in an unscheduled update.