Hays plc has released the transcript of its quarterly investor call held on October 10, 2025, covering the company's trading update for the three months ended September 30, 2025. The event was attended by company management, including the presenter and other senior representatives, as well as investors. During the call, management reported that group net fees decreased by 8% year-on-year, with Temp & Contracting down 5% and Permanent (Perm) down 13%. Despite these declines, management expressed optimism about the company's productivity and future prospects. "We were pleased with our net fee productivity through Q1 and believe our Group consultant headcount capacity is appropriate for current market conditions," said the company's spokesperson. They added, "We will continue to structurally reduce our cost base, to position Hays strongly for when end markets recover." Regional details revealed that Temp & Contracting volumes decreased by 8% year-on-year, with Germany and Australia & New Zealand (ANZ) both down 9%, UK & Ireland down 12%, and the Rest of the World down 1%. Perm net fees decreased by 13%, with job flow and activity levels returning to pre-summer levels in most markets, though placement volumes remain subdued due to longer than normal time-to-hire. Management reiterated confidence in the company's positioning for market recovery, stating, "While it is difficult to predict timing, we know our markets will recover. When they do, we remain confident that we will benefit materially." The full transcript can be accessed through the link below.