Robert Walters has axed hundreds of staff as it battles a slowdown in hiring around the world.
The recruitment consultancy said it had axed about 220 roles in the last three months of last year, taking its total headcount down to 3,980.
The company reported a 10pc slowdown in fee income as companies around the world have had their hiring plans derailed by higher interest rates.
Chief executive Toby Fowlston said: “Despite the challenging macro-economic conditions, the group has delivered a resilient fourth quarter and FY23 profit before tax will be in-line with market expectations.”
Robert Walters struggles comes as Britain finds itself in the grip of the longest slump in jobs vacancies on record as higher interest rates knock the labour market.
A total of 949,000 positions were advertised in the three months to November, according to the Office for National Statistics (ONS), which was down almost a quarter of a million from the number of posts advertised a year ago.
Rival recruiter Hays announced on Tuesday it had axed 650 jobs across its workforce as it tried to offset what it called a “clear slowdown” in the labour market.
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