Global staffing firm Adecco said on Tuesday that falling hiring volumes in the U.S. tech sector had probably hit a trough, a day after investor concerns triggered a massive rout on the markets.
“We believe that at this moment we probably have a trough,” Adecco’s CEO Denis Machuel told Reuters. “But let’s be clear, we haven’t seen an inflection yet.”
A massive selloff in the tech stocks shook the markets on Monday due to fears of a global recession after weak U.S. data, coupled with political uncertainty all over the world.
“We don’t think it’s going to get any worse,” Machuel added, referring to the U.S. tech sector hiring volumes.
The Swiss group’s boss also reiterated that tech consultancy unit Akkodis remained at the core of Adecco’s strategy.
Bloomberg had reported in early July that Adecco was considering selling Akkodis, which generates about 16 per cent of its sales.
