Firms recording layoffs recently amid the challenging macroeconomic environment include Korn Ferry (NYSE: KFY) and Fusion. There are reports of layoffs at other staffing providers as well.

Some 38% of staffing firms have conducted layoffs, according to the latest Pulse survey by Staffing Industry Analysts.

Korn Ferry, a provider of executive search and other workforce ecosystem services, plans to reduce its workforce by 8%.

It cited “the challenging macroeconomic business environment arising from persistent inflationary pressures, rising interest rates and global economic and geopolitical uncertainty,” according to a regulatory filing. The Los Angeles-based company announced the workforce reduction on Oct. 27. It plans to complete the action by the end of its fiscal third quarter on Jan. 31.

Korn Ferry reported the reduction will reduce its annualized cost base by approximately $110 million to $120 million.

Fusion reported in a statement to SIA that about 70 employees were impacted by a workforce reduction there, equating to 10% of its workforce. The company is offering outplacement services and financial support through the end of the year.

“Unfortunately, due to the changing market conditions in healthcare staffing, Fusion made the difficult decision to reduce the size of our internal workforce. Impacted and nonimpacted employees were notified Monday, Oct. 16, and provided supporting resources to ease the transition,” Calli Hite, VP of communications and public relations, said in a statement to SIA.

Separately, TrueBlue Inc. (NYSE: TBI) announced a $1.5 million charge for workforce reduction costs last week. LinkedIn also announced layoffs, and Bullhorn recently reported a workforce reduction as well.

SIA has reached out to other staffing firms for information on reported layoff activity.

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