Hudson Highland's Hangover
Hudson Highland's latest numbers are out and the firm lost close to 7 million in the last quarter alone and almost 25 million so far this year.
For those who don't know Hudson Highland is the former executive search arm of TMP Worldwide (The Monster Board). TMP punted the firm not too long ago when it was obvious that the executive search division wasn't making money fast enough for TMP shareholders.
Not surprising since it was a cobbled together division of boutique firms they had bought in cities around the globe. Not only are mergers between search firms difficult (as I mentioned in an earlier post) those difficulties are amplified when you try to do it on a global scale. Perhaps Hudson needs to go on a diet? Well their pr people might want to, considering the following sentence:
one of the world's leading providers of specialized professional staffing, retained executive search and human capital solutions
Is it just me or did they just say the same thing three times?