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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.
Rhea-AI Summary
TrueBlue (NYSE: TBI) and Centerline Drivers announce Jasmine Gregory as the winner of the Drive It Forward Scholarship, providing full tuition financial assistance for a commercial driver's license program. The scholarship aims to support women in trucking and connect individuals with meaningful career pathways.
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TrueBlue (NYSE: TBI) completes sale of PeopleReady's Canadian Staffing Business to Vertical Staffing Resources without disclosing financial terms, maintaining presence in Canada through other brands.
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TrueBlue (NYSE:TBI) reported fourth quarter and full-year results for 2023, with revenue decreasing 12% to $492 million in Q4. Despite a net loss of $3 million, the company remains debt-free with $62 million in cash and $86 million in borrowing availability. The CEO highlighted the focus on renewable energy and cost management to drive long-term profitability.
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TrueBlue (NYSE: TBI) sells PeopleReady Canadian staffing business to Vertical Staffing Resources, focusing on U.S. staffing and global RPO growth opportunities. The transaction is set to close in the first quarter, enhancing core operations.
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TrueBlue's PeopleManagement brands, Staff Management | SMX, SIMOS Solutions, and Centerline Drivers, have been recognized by the ClearlyRated 2024 Best of Staffing Awards for superior client service. Centerline Drivers and SIMOS Solutions have won the award for the third consecutive year. The award is based on customer surveys, highlighting the brands' commitment to excellence in client service.
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TrueBlue (NYSE: TBI) will release its Q4 and full-year 2023 earnings results on Feb. 21, 2024. The management will discuss the results in a webcast at 2:00 p.m. PT. The webcast and financial presentation will be available on TrueBlue’s website. An audio replay will be accessible for six months.
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TrueBlue (NYSE: TBI) announces that four of its leaders have been named to the HRO Today 2023 HR Superstars list. The executives include Taryn Owen, President & CEO, Carl Schweihs, Chief Financial Officer, Rick Betori, President of PeopleScout, and Kristy Willis, President of PeopleReady. The press release details their extensive experience and contributions to the company, emphasizing their roles in driving growth, innovation, and international expansion.
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TrueBlue (NYSE: TBI) announces results of a study revealing that 90% of HR leaders believe that up to 50% of their workforce will need to be reskilled in the next five years. The report highlights the growing skills gap and the importance of adopting skills-based talent acquisition and management strategies. Global labor trends and the skills countdown indicate talent shortages across various industries, with an estimated 85 million jobs going unfilled by 2030, costing $8.5 trillion in lost revenue. The study also points out that companies are ill-prepared for the future, with global trends such as automation and AI adoption rapidly changing the skills needed for jobs, while employers continue to prioritize degrees and experience over skills when making hiring decisions. Technology adoption is accelerating the need to evolve skills, with 50% of HR leaders anticipating that job roles at their organizations will transform due to shifts in required skill sets. However, the report reveals that both employers and employees undervalue skills in technology, and 34% of employers lack any plans for workforce adoption of automation and AI.
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TrueBlue (NYSE: TBI) announces President and CEO Taryn Owen and PeopleReady President Kristy Willis recognized for impactful leadership in staffing industry
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TrueBlue (NYSE: TBI) announced that its subsidiary, PeopleReady, received two awards from the International Awards Associate (IAA) for its JobStack app. The app won a Platinum TITAN Business Award for Business Technology Solution and a Gold Vega Award for Apps & Software. JobStack has been downloaded by over three million job seekers and has facilitated filling more than 14 million shifts. 97% of PeopleReady's associates use JobStack, which offers a fully virtual job search experience for job seekers and real-time order submission and tracking for businesses.
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FAQ
What is the current stock price of Trueblue (TBI)?
The current stock price of Trueblue (TBI) is $7.14 as of November 22, 2024.
What is the market cap of Trueblue (TBI)?
The market cap of Trueblue (TBI) is approximately 241.5M.
What industries does TrueBlue, Inc. serve?
TrueBlue serves a wide range of industries including construction, energy, manufacturing, financial services, pharmaceuticals, transportation, and aviation.
What are the main segments of TrueBlue, Inc.?
TrueBlue operates through three main segments: PeopleReady (industrial staffing services), PeopleManagement (contingent and productivity-based on-site staffing services), and PeopleScout (recruitment process outsourcing and managed service provider solutions).
How many people does TrueBlue connect to work annually?
TrueBlue assigns approximately 100,000 individuals to work each day and places over 250,000 people in permanent positions annually.
What recent research has TrueBlue conducted?
TrueBlue's PeopleScout and Spotted Zebra revealed that 90% of HR leaders believe up to 50% of their workforce will need reskilling in the next five years, highlighting a critical need for skills-based talent strategies.
How does PeopleReady support the hospitality industry?
PeopleReady specializes in quick and reliable on-demand labor for the hospitality industry, connecting businesses with qualified workers for major events and seasonal surges through its JobStack app.
What is PeopleScout's role within TrueBlue?
PeopleScout, a segment of TrueBlue, provides recruitment process outsourcing (RPO), talent advisory, and managed service provider (MSP) solutions, helping organizations optimize their hiring processes and talent management.
How does TrueBlue address the skills gap in the workforce?
TrueBlue emphasizes the importance of skills-based talent strategies and provides insights into the evolving workforce landscape, helping clients align their hiring practices with future needs.
What technologies does PeopleScout use for talent acquisition?
PeopleScout leverages its proprietary talent acquisition platform, Affinix™, which uses AI to enhance recruitment processes, providing a consumer-like experience for candidates and optimizing talent management through data insights.
Where is TrueBlue headquartered?
TrueBlue is headquartered in Tacoma, Washington.
How does TrueBlue's PeopleManagement segment operate?
PeopleManagement offers contingent and productivity-based on-site industrial staffing services, tailoring solutions to meet clients' specific operational needs and improving workforce productivity.
Trueblue, Inc.
NYSE:TBI
TBI Rankings
TBI Stock Data
241.51M
28.12M
4.77%
99.31%
3.01%
Staffing & Employment Services
Services-help Supply Services
United States of America
TACOMA