Swiss Adecco Sees 2021 as Uncertain for Permanent Job Hires in Europe

Swiss recruitment company Adecco expects 2021 to be a tough year for permanent job hires across Europe.

"For 2021 you will see a difficult impact for white collar hiring. Restructuring has started in the fourth quarter of 2020 and will run into the first and second quarter of this year. We have not touched the bottom of the swimming pool yet. In 25 years I have never seen such uncertainty”, says Christophe Catoir - Adecco’s president.

Adecco Group’s Q3 results have shown a 15% drop in revenues compared to a year earlier, although the company said it was seeing gradual improvement as businesses reopened.

For 2021, Catoir expects there will be a decline in the availability of permanent placements for white collar professionals in areas like payroll management, financial control and other corporate functions. This will be replaced by a rise in temporary hiring. "Although each wave of the virus is less impactful than the previous one, the companies are weaker than before”, Catoir commented. 

*The products advertised are only available to clients under Fondex Limited Seychelles (SDL No: SD037).