Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I have had my issues with recruitment sector stocks on this website over the last couple of years, calling investors in PageGroup (PAGE) 'bonkers' or 'overly hopeful' on the basis that 'the problem is that recruitment names are always very geared to the economic cycle' and the assets walk out of the door each evening. Now in a world where we have all learned to use the word 'furloughed' (I guess there are worse American inventions) unless you are providing a bunch of workers for key industries such as food retail and healthcare, it was no huge surprise to see Page's sector peer Hays (HAS) observing that 'the rapidly escalating impact of Covid-19 has driven a very material deceleration in client and candidate activity'…
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