Recruiter.com Issues Shareholder Letter
Recruiter.com Group (NASDAQ:RCRT, RCRTW) recently shared a shareholder letter highlighting its achievements from 2022 and outlining goals for the upcoming year. The company has streamlined operations and focused on monetizing its web platform. A notable decision was the divestiture of a software platform, generating capital and reducing expenses, which will allow a concentrated focus on its profitable OnDemand Recruiting product line. Despite macroeconomic uncertainties, the company remains optimistic about its operational efficiency and demand for its services in the evolving job market.
- Streamlined operations and implemented cost-saving measures.
- Successful divestiture of a software platform generating capital.
- Plans to launch new self-service initiatives for clients.
- Optimistic outlook on the job market and service demand.
- None.
NEW YORK, NY / ACCESSWIRE / January 5, 2023 / Recruiter.com Group, Inc. (NASDAQ:RCRT)(NASDAQ:RCRTW) ("Recruiter.com"), an on-demand recruiting platform, today issued a letter to shareholders from its CEO and Chairman of the Board, Evan Sohn.
Dear Shareholders,
As we embark on a new year, we are excited to report on some of our accomplishments during the past year and to provide some of our goals for the upcoming year. Overall, we feel that we are entering the new year as a more agile and efficient company, having integrated much of the businesses that we acquired in 2021.
Despite the past year's challenges, we maintain a positive outlook for the future. In Q4 of 2022, we took several steps to enhance our operations, including implementing cost-saving measures, streamlining our processes, and adopting more effective business practices. We also intensified our focus on web platform monetization and on cultivating solid partnerships to generate additional sales opportunities. In the coming quarter, we intend to launch new self-service initiatives enabling our clients to interact with us seamlessly and efficiently. Specifically, we plan to introduce platform automation to facilitate small and mid-market clients' engagements with our on-demand freelance recruiters.
In addition to these endeavors, we have also made a concerted effort to improve our financial and accounting processes. We have introduced new procedures to facilitate quicker financial cycling, such as streamlined collections and client approval processes.
We recently announced the divestiture of one of our software platforms to Talent, Inc., a move that generated capital, reduced technology expenditure, and allowed us to concentrate on our most profitable OnDemand Recruiting product line. Furthermore, we continue to discuss and evaluate strategic opportunities, as we have previously disclosed.
Although the macroeconomic environment may be uncertain, we are confident in the appeal of our products and the sustained demand for our services. The job market remains robust, with a historically low unemployment rate and a "mostly positive" outlook, according to ERE. Our on-demand business model is particularly well-suited to a cost-conscious environment, and we should be well-positioned to capitalize on the trends driving demand, such as the flourishing healthcare sector and in US companies hiring internationally.
We are grateful for your ongoing support and confidence in our company. We are committed to working diligently to deliver value to you, our shareholders. Keep in touch with our regular updates at https://investors.recruiter.com.
Sincerely,
Evan Sohn
Chairman and CEO
Recruiter.com Group, Inc.
About Recruiter.com Group, Inc.
Recruiter.com is an on-demand recruiting platform providing flexible talent acquisition solutions that scale from startups to the Fortune 100. With an on-tap network of thousands of recruiting professionals, advanced artificial intelligence sourcing software, and recruitment marketing automation, Recruiter.com helps businesses solve today's complex hiring challenges.
For investor information, visit https://investors.recruiter.com
Contact:
Please follow social media channels for additional updates:
- LinkedIn Recruiter Network Group: https://www.linkedin.com/groups/42370/
- LinkedIn Company Page: https://www.linkedin.com/company/1240434
- Twitter Company Page: https://twitter.com/recruiterdotcom
- Facebook Company Page: https://www.facebook.com/RecruiterDotCom
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "predict," "forecast," "believe," "may," "estimate," "continue," "anticipates," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued demand for professional hiring, the accuracy of the Recruiter Index® survey, the impact of the COVID-19 pandemic on the job market and the economy as virus levels are again rising in many states, and the Risk Factors contained within our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2021. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statements publicly, whether as a result of new information, future developments, or otherwise, except as may be required by law.
SOURCE: Recruiter.com Group, Inc.
View source version on accesswire.com:
https://www.accesswire.com/734123/Recruitercom-Issues-Shareholder-Letter
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