Business Services Industry
Slowdown slams Kelly earnings; Its specialties among hardest-hit sectors.(Kelly Services Inc.)(Brief Article)(Statistical Data Included)
Crain's Detroit Business, April, 2001 by Snavely, Brent
This year's economic slowdown hit Kelly Services Inc. hard during the first quarter, causing the company to cut expenses by 7 percent in its U.S. commercial division and casting a dark cloud over the rest of the year. Slower sales growth in the United States caused problems for all of the world's major staffing companies but hit Kelly Services (Nasdaq: KELYA) especially hard, erasing some of the progress the company began to make last year.
Growth in Kelly's international division and professional and technical division also slowed. Rapid growth in both those divisions has helped the company in recent years. Total sales for the Troy-based staffing company were essentially flat during the first quarter, rising less than 1 percent to $1.09 billion from $1.08...
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