Tuesday, April 28, 2009

Even Executive Search Firms Are Laying Workers Off

According to the Chicago Business Journal the executive search firm Heidrick & Struggles has decided to reduce its headcount by another 10% over top of the 11% reduction in workers that occurred in January, 2009.

Other important data from their recent financial results show that their revenue fell by 41% in Q1-2009 and that the number of executive searches confirmed in the quarter fell by 38%! Those two data points just goes to show that there are far fewer job opportunities available in 2009 than what there were in 2008---And the fact that H&S is cutting 10% more jobs means that they aren't seeing signs of conditions improving in the near term---->Clearly this isn't a "green shoot" while you're struggling with your own job search.

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