Hays to demerge mail business

UK recruitment specialist Hays unveiled the final phase of its restructuring today with plans to demerge its mail business DX.

The move, which follows the sale of the commercial and logistics divisions of Hays, will lead to shareholders in the FTSE 100 Index group getting stakes in two separately-listed companies.

DX specialises in business-to-business mail services in the UK and Ireland, delivering more than one million items a day and employing 1,200 people.

Guildford-based Hays took the decision last year to offload three of its four businesses after a strategic review found “insufficient linkages” between them.

Since then, disposals have included a £102m (€153m) deal announced in November to sell the logistics arm.