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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.
PeopleReady, a TrueBlue company (NYSE: TBI), is preparing for a significant summer hiring surge to support the hospitality industry during major sports and entertainment events. The company aims to connect businesses with qualified workers for events like the Indy500, NBA Finals, and U.S. Open, among others. In the last 30 days alone, over 313,000 new hospitality positions have been posted. Key roles in demand include supervisors, food prep workers, bartenders, ushers, and parking attendants. With over three decades of experience, PeopleReady operates in more than 600 markets in the U.S., leveraging its JobStack app to facilitate job searches and applications. Recently, Hospitality Business Review recognized PeopleReady as a Top 10 Hospitality Staffing Provider.
TrueBlue announced its first quarter results for 2024, reporting a 13% revenue decrease to $403 million and a net loss of $2 million. Despite challenges, the company improved SG&A by 13% and made strategic investments. With zero debt, $36 million in cash, and $140 million in borrowing availability, TrueBlue remains financially strong. The company is focused on digital transformation, expanding in high-growth markets, and driving efficiency through organizational changes to deliver long-term value.
TrueBlue's global talent solutions brand, PeopleScout, reveals its new brand promise 'Connect More' to emphasize meaningful connections between employers and critical talent. The brand refresh highlights the importance of innovative approaches in attracting candidates and engaging employees in today's evolving talent landscape. PeopleScout's commitment to deeper connections extends beyond just talent recruitment to provide actionable insights, transformative strategies, and unparalleled partnership experiences through industry-leading technology and in-house talent advisory expertise.
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