Adecco chief executive expects sales decline in 2009

Wed, 7 Jan 2009

The chief executive of recruitment giant Adecco has said he expects sales to decline in 2009.

Dieter Schieff told Switzerland’s Handelszeitung newspaper that the firm was bracing itself for two “very challenging” years.

Schieff also ruled out any large acquisitions, though smaller purchases were possible.

However, he also expects a recovery in the US market in the fourth quarter of the year and expects Adecco to meet the long-term sales growth target of 7-9% in the medium term, as well as its earnings before interest, tax and amortisation (EBITA) margin goal of 5%.