Adecco : Self-inflicted weak operational momentum to turn around through the year
>Q4 2021 results unlikely to be good - After reporting 9% organic revenue growth in Q3, we expect Adecco to report meagre 1% organic revenue growth for Q4, seriously underperforming peers Manpower and Randstad (MAN reported 9% and we expect RAND to report 12%). Adecco remains underexposed to rapidly recovering sectors like e-commerce and logistics while it is overexposed to the lowest quartile jobs in North America, which it struggles to fill. We estimate Adecco gener...Adecco Group provides human resource services, including temporary staffing, permanent placement, outsourcing, consulting and outplacement. Co. has more than 5,500 branches in over 60 countries and territories. Co.'s Office and Industrial businesses offer a range of general staffing services, including temporary staffing, permanent placement, assessment, training and integrated human resources applications. In addition, Co. operates professional business lines, which include Adecco Finance & Legal, Adecco Engineering & Technical, Adecco Information Technology, Adecco Medical & Science, Adecco Sales, Marketing & Events and Adecco Human Capital Solutions.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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