With reference to the press release of August 28, 2014, Randstad Holding nv provides an update on its plans for the new organizational structure in The Netherlands, more specifically on the cost savings of creating one Dutch management team and streamlining back-office processes and support centers.
Randstad expects to complete this process by the end of 2014. Annual savings as from Q1 2015 are estimated at € 20-23 million, for which a provision will be taken in Q3 and Q4 2014 of around € 22 million in total. Payback is achievable within one year.
This update does not include the restructuring of the Professionals businesses which is also part of the new organizational plans. Detailed plans for the new organizational structure are pending approval of the Works Council (the overall plan has been agreed).
To drive continuous quality improvements and further cost savings over time, several countries have done similar back-office analyses, like Belgium in 2013, and Spain and Italy when they went through merging activities with USG. Further announcements on this topic will be made if and when appropriate.
about randstad
Randstad is a global talent leader with the vision to be the world’s most equitable and specialized talent company. As a partner for talent and through our four specializations - Operational, Professional, Digital and Enterprise - we provide clients with the high-quality, diverse and agile workforces that they need to succeed in a talent scarce world. We help people secure meaningful roles, develop relevant skills and find purpose and belonging in their workplace. Through the value we create, we are committed to a better and more sustainable future for all. Headquartered in the Netherlands, Randstad operates in 39 markets and has approximately 40,000 employees. In 2023, we supported 2 million talent to find work and generated a revenue of €25.4 billion. Randstad N.V. is listed on the Euronext Amsterdam. For more information, see www.randstad.com.
for more information
Elise Martin-Davies
+31 (0)6 1322 5136
press@randstad.com