Macroeconomic UncertaintyOngoing macroeconomic uncertainty, like potential impacts from US tariffs and EU cyclical recovery, poses a challenge for Adecco in the near term.
Project CancellationsProjects with auto OEM are being stopped, delayed or cancelled, which is putting pressure on volume, utilization rate, and margins.
Structural DeclineAdecco suffered disproportionately because of lower volumes, with their 3 largest customers facing structural decline.