Kelly Svcs Inc - KELYA STOCK NEWS

Kelly has appointed two key executives to enhance their staffing strategy: Amy Bouque as Chief HR Officer for full-time employees, and Jocelyn Lincoln as Chief Talent Officer focused on temporary workers. Bouque, previously with Ally Financial, is tasked with improving HR practices, while Lincoln, with 21 years at Kelly, aims to enhance the experience for temporary workers. CEO Peter Quigley expressed that both roles are crucial as Kelly navigates the evolving workforce landscape, emphasizing the importance of a strong temporary worker experience.

Kelly (Nasdaq: KELYA) reported Q2 2020 results, showing a 28.7% revenue decline year-over-year, totaling $1.0 billion. Operating earnings fell 68.2% to $11.1 million, with adjusted earnings of $10.9 million. Diluted EPS was $1.04, down 50.9%, while adjusted EPS decreased 37.0% to $0.51. The decline is attributed to reduced demand due to the COVID-19 crisis. CEO Peter Quigley noted ongoing efforts to enhance profitability and shift towards specialization in response to market challenges.

KellyOCG has been recognized as a Leader and Star Performer in Everest Group's 2020 PEAK Matrix Assessments for Services Procurement and a Major Contender in Recruitment Process Outsourcing (RPO). This marks the second consecutive year as a Leader in Services Procurement, with high ratings in vision & strategy and delivery footprint. The report highlights KellyOCG's strong performance in supplier management, technology investments, and analytics capabilities. With a focus on small and mid-markets, the firm continues to enhance its service offerings.

Kelly Services, Inc. (Nasdaq: KELYA) will announce its second quarter earnings on August 6, 2020, prior to market opening. A conference call will take place at 9:00 a.m. EDT, accessible online or via phone. A recording will be available post-call. Kelly Services connects talent with companies in various sectors, employing nearly 440,000 individuals globally and generating $5.4 billion in revenue for 2019. For more information, visit kellyservices.com.

Kelly has launched the Redefining Work playbook to support businesses amid COVID-19 challenges. The playbook offers practical solutions for workplace safety and workforce management as companies navigate reopening amidst varying state restrictions. Addressing high unemployment (13.3%), Kelly provides strategies such as implementing safety tools, rethinking workspace layouts, and enhancing employee engagement. Notable successes include hiring 450 health screeners for a client and achieving a 97% return rate for furloughed workers. This initiative aims to help organizations adapt and thrive in the evolving work landscape.

The COVID-19 pandemic has intensified teacher shortages in the U.S., with only 54% of daily teacher absences filled before the crisis. A report by EdWeek Research Center indicates that 12% of teachers may leave their profession due to pandemic-related pressures. Administrators report higher absence rates, and 71% predict increased demand for substitute teachers in the next five years. Key recommendations to address this shortage include raising pay by at least 26%, enhancing professional development, and improving recruitment and retention tactics.

On June 22, 2020, Kelly announced key leadership appointments as part of its strategy to accelerate growth as a specialty talent solutions provider. Effective July 1, five new specialty business leaders will take charge, each focusing on driving innovation and growth in their respective segments: Science, Engineering & Technology; Education; Professional and Industrial; KellyOCG; and International. Additionally, Jim Bradley was appointed Chief Administrative Officer, overseeing shared services. This leadership shift aims to enhance operational effectiveness and specialization across the company's offerings.

Kelly (Nasdaq: KELYA), a leading talent solutions provider, will participate in the Barrington Research Virtual Spring Investment Conference on May 21, 2020. Key executives, including CEO Peter Quigley, CFO Olivier Thirot, and SVP James Polehna, will engage in virtual meetings. In 2019, Kelly reported revenues of $5.4 billion and employs nearly 440,000 people globally.