TMP Worldwide Executive Search Releases Study on 2003 Hiring Outlook for Technology Sector; Study Finds Many Technology Companies Plan Modest Hiring Increases

Business Wire, Nov 18, 2002

Business & Technology Editors

NEW YORK--(BUSINESS WIRE)--Nov. 18, 2002

TMP Worldwide Inc. (NASDAQ:TMPW), the world's leading supplier of human capital solutions, including the pre-eminent Internet career portal Monster(R), today released the findings of a recent study polling senior U.S.-based human resources executives in the technology industry.

The results suggest the layoffs that have rocked the technology sector over the last few years may have run their course, and that many companies plan to begin selectively hiring over the next 12 months.

Conducted by TMP Worldwide's Executive Search division, the survey set out to quantify hiring plans for 2003, elicit views on how the hiring landscape has changed, and identify what trends are likely to drive hiring in the near future.

It found that respondents are anticipating, on average, a relatively modest headcount increase of 3.7% over the coming year. Interestingly, the bulk of the hiring is expected to take place in the professional ranks.

"Companies that reacted too slowly going into the recession are anxious to do a better job when the economy rebounds," said James M. Bethmann, global head of the technology sector at TMP Worldwide Executive Search.

Additionally, the survey also found that for every company planning to decrease headcount over the next year, four companies plan to increase their staff.

"Technology executives are beginning to ask whether the market has found a bottom, and whether they are at risk of being caught flat-footed again--this time with too little human capital rather than too much," Bethmann continued. "We believe it's a smart question to be asking. The technology sector could be at a key inflection point in terms of investing in human capital."

A full copy of this survey, which questioned senior U.S.-based human resources executives at privately-held and publicly-traded hardware and software makers, telecommunications companies and technology-oriented business services companies, may be obtained by contacting Greg Joslyn at greg.joslyn@tmp.com or by calling 212-351-7256.

About TMP Worldwide

Founded in 1967, TMP Worldwide Inc., with more than 9,000 employees in 33 countries, is the online recruitment leader, the world's largest Recruitment Advertising agency network, and one of the world's largest Executive Search & Executive Selection agencies. TMP Worldwide, headquartered in New York, is also the world's largest Yellow Pages advertising agency and a provider of direct marketing services. The Company's clients include more than 90 of the Fortune 100 and more than 490 of the Fortune 500 companies. TMP Worldwide is a member of the S&P 500 Index. More information about TMP Worldwide is available at www.tmp.com.

Monster, headquartered in Maynard, Mass., is the leading global careers website, recording over 49.1 million unique visits during the month of October 2002 according to independent research conducted by I/PRO. Monster connects the most progressive companies with the most qualified career-minded individuals, offering innovative technology and superior services that give them more control over the recruiting process. The Monster global network consists of local content and language sites in the United States, United Kingdom, Australia, Canada, the Netherlands, Belgium, New Zealand, Singapore, Hong Kong, France, Germany, Ireland, Spain, Luxembourg, India, Italy, Sweden, Norway, Denmark, Switzerland, Finland and Scotland. Monster is the official online career management services sponsor of the 2002 Olympic Games and the 2002 and 2004 U.S. Olympic Teams. More information about Monster is available at www.monster.com or by calling 1-800-MONSTER.

Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the company's strategic direction, prospects and future results. Certain factors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, risks associated with acquisitions, competition, seasonality and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.