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TrueBlue, Inc. (NYSE: TBI) is a premier provider of staffing, recruiting, and workforce management solutions, supporting a diverse range of industries including construction, energy, manufacturing, financial services, pharmaceuticals, transportation, and aviation. TrueBlue assigns as many as 100,000 individuals to work daily, drawing from an extensive database of candidates, and places over 250,000 people in permanent positions annually.
The company's operations are structured into three main segments:
- PeopleReady: Specializes in industrial staffing services, offering on-demand labor solutions to meet immediate workforce needs.
- PeopleManagement: Provides contingent, on-site industrial staffing and productivity-based services, catering to clients' specific operational requirements.
- PeopleScout: Offers a range of recruitment process outsourcing (RPO) services, talent advisory, and managed service provider (MSP) solutions, helping organizations streamline their hiring processes and achieve better talent outcomes.
Recently, TrueBlue's research through PeopleScout, in collaboration with Spotted Zebra, revealed that 90% of HR leaders believe that half of their workforce will need reskilling in the next five years. Despite this, only 7% have active reskilling programs. The study highlighted the critical need for skills-based talent acquisition and management strategies as global labor trends evolve due to automation, AI adoption, and other technological advancements.
TrueBlue remains a trusted advisor to numerous clients across various sectors, addressing the widening skills gap and emphasizing the importance of future-focused skills strategies. In 2022, TrueBlue served 84,000 clients and connected approximately 611,000 people to work. In 2023, the company served 67,000 clients, connecting around 464,000 people to job opportunities.
The PeopleReady segment is currently gearing up for the summer hiring surge in the hospitality industry, connecting businesses with qualified workers for major events like the Indy500, NBA Finals, and U.S. Open, among others. With a comprehensive presence in more than 600 markets across the U.S., PeopleReady's JobStack app allows job seekers to find work conveniently from their mobile devices.
TrueBlue has named Taryn Owen as President of its RPO brand, PeopleScout, expanding her role as President of PeopleReady. Owen, who joined TrueBlue in 2010, previously led PeopleScout through significant growth and technological advancements. This strategic move is aimed at enhancing the digital transformation of both brands while maintaining their independent operations. CEO Patrick Beharelle praised Owen's leadership, emphasizing the company's commitment to providing value and opportunities. TrueBlue (NYSE: TBI) connects clients with workforce solutions, having linked over 490,000 individuals to work in 2020.
TrueBlue (NYSE: TBI) announced that CEO Patrick Beharelle and CFO Derrek Gafford will present at the Sidoti Virtual Investor Conference on September 22, 2021, starting at 12:15 p.m. Eastern Time. A live webcast and replay will be accessible via TrueBlue’s Investor Relations website. TrueBlue is a major provider of workforce solutions, connecting around 490,000 people with employment opportunities in 2020, offering services through its PeopleReady, PeopleManagement, and PeopleScout segments.
PeopleReady, a TrueBlue company, announces its sponsorship of JR Motorsports' Sam Mayer, who will drive the #8 PeopleReady Chevrolet Camaro in the NASCAR Xfinity Series Wawa 250. This collaboration aims to enhance brand visibility to over millions of race fans. Notably, PeopleReady utilizes its JobStack platform to connect job seekers with employers, serving 98,000 businesses and placing over 221,000 individuals in 2020. The race is scheduled for August 27, 2021, at 7:30 p.m. EST on NBCSN.
The skilled trades sector, as analyzed by PeopleReady, faces a significant workforce shortage, with demand for skilled tradespeople increasing by 50% since pre-pandemic levels, resulting in 388,345 job postings between May and June 2021. Positions remain unfilled for an average of 24 days. Notable growth in demand includes concrete masons (904%), window glaziers (422%), and house painters (329%). The shortage presents opportunities for career changers, emphasizing the importance of contingent workforces in addressing workforce challenges. TBI, TrueBlue's ticker, is closely linked to this trend.
TrueBlue (NYSE:TBI) reported a strong second quarter in 2021, with revenue reaching $516 million, up 44% from $359 million in Q2 2020. Net income per diluted share improved to $0.45, a reversal from a net loss of $0.23 year-over-year. Adjusted net income also rose to $0.47, compared to an adjusted loss of $0.12 in 2020. CEO Patrick Beharelle noted strong demand in the market, emphasizing improvements in profit margins and technology strategies that promise scalable cost efficiencies.
TrueBlue (NYSE: TBI) will announce its second quarter 2021 earnings results after the market closes on Jul. 26, 2021. The company will host a webcast to discuss these results at 2:30 p.m. PT (5:30 p.m. ET) on the same day. Stakeholders can access the financial presentation on TrueBlue's official website.
TrueBlue specializes in providing workforce solutions, connecting approximately 490,000 people with jobs in 2020 through its segments: PeopleReady, PeopleManagement, and PeopleScout.
The ongoing workforce shortage in the U.S. has led to approximately 13.6 million jobs remaining vacant for over a month, according to PeopleReady. With federal unemployment benefits ending in 26 states, experts anticipate limited impact on job market recovery. PeopleReady emphasizes the growing importance of contingent workforces to fill these gaps. A recent survey highlights a significant shift in job preferences, with a 34% decrease in interest for full-time positions and nearly 50% increase for temporary jobs. To incentivize job placements, PeopleReady has launched a sweepstakes offering $100,000 in cash and prizes.
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