Hays hit with £6.5m loss

Chaos in the banking sector and worsening economic conditions left recruitment firm Hays with a £6.5m (€8.08m) loss in the UK and Ireland.

A 10% cut in its consultant headcount to below 2,000 was offset by a 7% decline in full-year net fee income to £225.3m as Hays swung from a profit of £3.6m for the previous 12 months.

“Trading conditions in the UK have been tough, and became increasingly difficult as the year progressed,” it said.