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London listed recruitment firm Robert Walters has warned that they do not expect to see an “improvement in hiring markets in the near term.”
The recruitment company has cut their headcount by another 2% slashing 77 positions and now employ 3,125 workers, and over the past 12 months the firm has let go 500 jobs.
The company reported in the latest quarter the net fee income dropped by 13% as there is a “more pronounced” macroeconomic instability amid Donald Trump’s tariffs, resulting in shares tumbling 3.4% on Tuesday.
Toby Fowlston, chief executive of Robert Walters, said: “Whilst net fees were higher than in the first quarter, macroeconomic uncertainty was more pronounced in Q2, with forward indicators in specialist recruitment slightly weaker as a result relative to the end of Q1.
“With the external environment continuing to constrain client and candidate confidence, our planning assumption remains that there will be no material improvement in hiring markets in the near term.
“However, we continue to have high conviction in our disciplined entrepreneurialism strategy and therefore took further strategic action during the quarter to drive greater efficiency.”
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