SThree reviews office network, closes Brazil and India
12 September 2014
Multi-sector specialist recruiters SThree is reviewing its operations around the world as it seeks to “improve returns from its office network”, the company revealed in its interim management statement today.
Fri, 12 Sep 2014Multi-sector specialist recruiters SThree is reviewing its operations around the world as it seeks to “improve returns from its office network”, the company revealed in its interim management statement today.
The statement outlined the closures of several SThree international offices and the restructuring of several teams.
The aim of the drive is “to identify opportunities to refocus resources and effort away from sub-scale businesses that have little prospect of moving into profit in the foreseeable future towards those operations which will deliver the greatest return over the medium term”, the company said.
To date, SThree has “rationalised” its banking & finance operations and closed offices in Brazil and India. It is also closing what it called “small representative” offices in Rio de Janeiro, Brazil, and Calgary, Canada, with those countries’ energy markets to be served from Houston.
Office space in Houston was recently doubled. Other resources freed up by the restructuring of teams in the Benelux countries and Switzerland will be redeployed towards New York, Boston and San Francisco, as well as to Houston.
The group has 48 offices in 19 countries, of which 34 offices are outside the UK. The group now generates 70% of gross profit from markets outside the UK & Ireland, up from 69% last year.
The statement outlined the closures of several SThree international offices and the restructuring of several teams.
The aim of the drive is “to identify opportunities to refocus resources and effort away from sub-scale businesses that have little prospect of moving into profit in the foreseeable future towards those operations which will deliver the greatest return over the medium term”, the company said.
To date, SThree has “rationalised” its banking & finance operations and closed offices in Brazil and India. It is also closing what it called “small representative” offices in Rio de Janeiro, Brazil, and Calgary, Canada, with those countries’ energy markets to be served from Houston.
Office space in Houston was recently doubled. Other resources freed up by the restructuring of teams in the Benelux countries and Switzerland will be redeployed towards New York, Boston and San Francisco, as well as to Houston.
The group has 48 offices in 19 countries, of which 34 offices are outside the UK. The group now generates 70% of gross profit from markets outside the UK & Ireland, up from 69% last year.
