UK agencies cut staff amid global troubles

UK agencies cut staff amid global troubles By Abigail Wills Two well-known C&I agencies have made redundancies to counter the effects of global events and the struggling economy. TM Group joint chairman Malcolm Williamson has stepped down and the agency has made eight redundancies across its support divisions, including MWorld Venue Finding. Talking Point has also laid off seven people, with a further seven accepting voluntary redundancy or unpaid leave. TM Group chairman Tim Waygood said the agency had a growth rate of 10%for the year to date: "Although positive, it is below target. We expect growth as the economy picks up in 2004." Talking Point director Paul Ratcliffe is still cautious about the future: "Last year showed signs of a recovery but SARS and the Iraqi War thwarted our projections. We live in a volatile age and we must exercise due caution." ESP Recruitment director Liz Sinclair stressed the redundancies are not a reflection of the state of the industry overall: "The market is actually very buoyant at the moment with a lot of people recruiting. We’re the busiest we have been since September 2001."

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