Key facts
- SThree reported a 19% drop in net fees in the UK.
- SThree experienced a general cooling of the hiring market across Europe.
- SThree's overall group net fees declined by 7%.
- SThree saw strong growth in its US and Japan markets.
- Deloitte is offering voluntary redundancy packages to nearly 200 employees in its UK audit business.
- Deloitte cited low staff attrition and stagnant revenue for the job cuts.
- Deloitte reported a 1% revenue decrease for fiscal year 2025.
The UK and European hiring markets are showing signs of a significant slump, impacting major players in the recruitment and professional services sectors. Specialist technology recruiter SThree has reported a substantial 19% decrease in net fees within the UK and a general cooling trend across its European operations. This downturn contributed to an overall 7% decline in group net fees for SThree, although the company noted strong growth in its US and Japan markets.
In parallel, Deloitte is implementing voluntary job cuts within its UK audit business, offering redundancy packages to approximately 200 employees. This move is attributed to low staff attrition rates and stagnant revenue within the division. The firm's fiscal year 2025 performance reflected this challenge, with a reported 1% decrease in overall revenue.