Adecco: profits fall.
| Fonction | Financial News |
The first quarter net income of Adecco, the world's largest job services company, dropped 53 per cent to Euro 30 million (CHF45.8 million) due to accounting woes. In January, the firm had delayed its 2003 annual results amid concerns about bookkeeping issues at its North American division.
Though shares in the group have steadily recovered since January, they remain lower by almost a quarter on the level they stood at prior to the news of accounting problems. Shareholders have lost some CHF 3.5 billion.
Adecco on has announced a board revamp in order to boost its credibility.
ABB chairman Jurgen Dormann, former French...
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