More job woes (job services)

[c1ue]

I was talking to a former compatriot - one of his regular gigs as a consultant is working with a 'media company': specifically a job recruitment firm.

Their peak $12M/year revenues dropped to $4M last year and are on a $2.5M run rate this year.

This last number is well below costs - even with the founder taking a gigantic salary cut.

They will probably survive, but it is going to be a very hungry number of years until the economy turns around...

[doom&gloom]

I owned a temp help service and got out in August 2007 (though I was not smart enough to stay out of the markets). Business is about 1/2 now what it was when I sold. It may halve again. UUUUgly.

[BiscayneSunrise]

FWIW, Consulting firms that assist in restructuring and cost cutting seem to be doing well right now.

[don]

FWIW, Consulting firms that assist in restructuring and cost cutting seem to be doing well right now.

I do Construction Defect litigation consulting work- nearly all defense- forensics, expert witness, etc. We're dead in the water. I assume on the plaintiff side both resi and commercial properties are struggling to hold on and have no resources, time or the inclination for possible CD redress, despite a predictable enormous inventory of shoddy new construction (and I'm on defense :eek: ). On our side, insurance companies, that pay the bills, have tightened the reins on all but essential services as their tripping the light fantastic in the FIREs now rebounds on their bottom lines. Grim and grimmer.