Recruitment Watch - July 2010
Welcome to the July 2010 edition of Mishcon de Reya's Recruitment Watch, prepared by the Firm's Recruitment Services Group. Its aim is to provide those involved in the recruitment sector with a snapshot of what has been happening in the world of recruitment in the last month.
News
Market
SThree has said that demand for IT staff has increased for the first time since September 2008, following a 4.1% rise in hiring in the quarter to end May 2010.
Gill Plimmer, Financial Times, 20 July 2010
Research by Astbury Marsden has found that job vacancies in the City fell by 18% in June 2010.
Brian Groom, Financial Times, 9 July 2010
The monthly survey of 400 job agencies by the Recruitment and Employment Confederation and KPMG has found that the recovery in the jobs market is slowing with permanent and temporary staff placement continuing to rise in June but more slowly than in recent months.
Brian Groom, Financial Times, 7 July 2010
Trends / Practice
The chief executive of Robert Walters has said that private companies will skim the top talent from the public sector following announcements of government cuts.
Gill Plimmer, Financial Times, 8 July 2010
Companies
Morson Group has agreed terms to acquire the business, contracts and fixed assets of Acetech Personnel for £2.35m.
Recruiter, 21 July 2010
Healthcare Locums has agreed to acquire the business and assets of Redwood Health in a £6.7m deal.
Jonathan Russell, The Daily Telegraph, 17 July 2010
Michael Page International has reported a 33% rise in gross profit in its second quarter following an increase in demand for permanent staff in the banking, sales, retail and legal professions.
Gill Plimmer and Adam Jones, Financial Times, 10 July 2010
Morson Group has acquired the business and assets of Wynnwith Group, an engineering recruiter, out of administration for £7.75m.
Christopher Goodfellow, Recruiter, 7 July 2010
Legal Developments
Cases
Hogarth Davies and Lloyd, a City headhunter, is suing Nomura in the High Court over fees that it claims remain unpaid relating to its efforts in hiring hundreds of bankers from Lehman Brothers, when the bank collapsed in 2008.
Jane Croft, Financial Times, 8 July 2010
Mishcon de Reya
Mishcon de Reya Mishcon de Reya's Recruitment Watch is published by the Recruitment Services Group of Mishcon de Reya Solicitors who were established to meet the demands of their clients within the recruitment sector. The Group is made up of cross departmental specialist lawyers who are able to meet the diverse legal needs of the recruitment industry, with wide and varied experience within the sector and who have a proven track record in being able to meet the growing demand for a one-stop service amongst their recruitment clients.