Hays shares fall 7% as permanent hiring fees tumble 9% in the UK with jobs market 'as tough as ever'

From the Newshound archive · first published 12 October 2026.

Recruitment giant Hays has reported a bruising first quarter, with net fees dropping 3% like-for-like in the three months to 30 September. Permanent hiring fees fell 7% globally and 9% in the UK and Ireland, where total net fees slid 5%. Chief executive Mark Dearnley called the permanent market "mixed", with North American growth failing to offset deep fragility in Northern Europe. Shares plunged as much as 12% in early trading before steadying around 7% lower.

AJ Bell's Russ Mould warned the figures show 'companies lack confidence and don't want to invest in their business for growth.'

Hays has already closed operations in Thailand and Mexico and offloaded businesses in six other countries to focus on 16 core markets.

The firm is now in 'advanced discussions' to exit several more markets including Belgium, Brazil, Greater China, Singapore and the UAE.