Zurich, Switzerland, June 17, 2009: Adecco Group, the worldwide leader in HR services, today announces that Adia, a subsidiary of Adecco Group in France, has informed the works council of Adia of its plans to further adjust the cost base to the current market environment. As a consequence, Adecco Group in France plans to reduce headcount within the Adia business by around 350 employees (Full Time Equivalents, FTEs) by the end of 2009.
The management of the Adecco Group remains firmly committed to a proactive, cost-focused approach in order to protect profitability in the current challenging market environment.
Given the regulatory framework in France, which requires consultation with the French works councils, Adia, a subsidiary of Adecco Group France, today informed the works council of Adia of its plans to further reduce headcount within Adia by approximately 350 employees (FTEs) by the end of December 2009. The Adia branch network and its organization in France will be structurally optimized by merging around 100 branches. The costs associated with the reorganisation at Adia are estimated to be EUR 25 million. The local management in France is committed to continue the social dialogue with trade unions and the French works councils.
The local French release can be downloaded at www.adecco.fr.
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Information in this release may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based on information available to Adecco S.A. as of the date of this release, and we assume no duty to update any such forward-looking statements. The forward-looking statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations. Numerous factors could cause or contribute to such differences. Factors that could affect the Company's forward-looking statements include, among other things: global GDP trends and the demand for temporary work; changes in regulation of temporary work; intense competition in the markets in which the Company competes; changes in the Company's ability to attract and retain qualified internal or external personnel or clients; the potential impact of disruptions related to IT; any adverse developments in existing commercial relationships, disputes or legal and tax proceedings.
About the Adecco Group
The Adecco Group, based in Zurich, Switzerland, is the world's leading provider of HR solutions. With over 31,000 FTE employees and 6,000 offices, in more than 60 countries and territories around the world, Adecco Group offers a wide variety of services, connecting more than 500,000 colleagues with over 145,000 clients every day. The services offered fall into the broad categories of temporary staffing, permanent placement, outsourcing, consulting and outplacement. The Adecco Group is a Fortune Global 500 company.
Adecco S.A. is registered in Switzerland (ISIN: CH0012138605) with listings on the SIX Swiss Exchange (ADEN) and on Euronext in France (ADE).