RPO provider Hudson Global Inc. (NASDAQ; HSON) reported fourth-quarter revenue fell amid a slowdown in tech and hiring delays. However, the Old Greenwich, Connecticut-based firm sees improvements coming this year.
“Our fourth quarter financial results continued to reflect the year-over-year impact of the slowdown in the US technology sector and as well as fourth quarter hiring delays at certain clients, which we expect to recover beginning in the second quarter of 2024,” CEO Jeff Eberwein said in a press release.
Fourth-quarter revenue at Hudson was down 22.4% in constant currency to $34.0 million.
“The fourth quarter represented a significant strategic shift for Hudson RPO,” Eberwein said.
“In November, we hired Jake Zabkowicz as Hudson RPO’s global CEO, and he has begun implementing numerous positive changes to the business, including expanding our geographic presence as well as our service offering to existing RPO clients,” Eberwein continued. “These growth initiatives, coupled with 2023’s significant new business wins, give us high confidence in our business improving in 2024.”
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Share price
Shares in Hudson Global were up 0.89% to $14.68 as of 11:47 a.m. Eastern time today. During the past year, shares in Hudson global traded in a range of between $13.38 and $24.25.