敦俭堂

By SARAH E. NEEDLEMAN, Wall Street Journal

A growing number of professionals are saying "no, thanks" to prospective employers asking them to change jobs.

Spooked by the shaky economy, 46% of U.S. middle managers polled in mid-September said switching employers in the current environment is risky, according to a survey by Accenture Ltd. Just 13% of respondents said they were actively looking for a new job, down from 30% the last time Accenture conducted a similar survey in 2005.

The findings are echoed by search-firm recruiters, who say they are having to work harder just to get professionals to hear out job opportunities they have to offer. And dire tales of people losing their jobs shortly after being hired, although rare, are helping to spread caution among workers.

Many employees are hesitant to join new companies because "there's a level of uncertainty," says David Smith, managing director of talent and organization performance at Accenture, a global consulting company. It's unclear whether a different employer will be able to provide sufficient job security, training, advancement opportunities and other benefits. By contrast, they know what's available to them where they work now, he says.

The Accenture survey, to be released Thursday, polled via the Internet 322 middle managers, including account supervisors, associate vice presidents and sales managers. In its 2005 survey, which polled 225 professionals about their job outlooks, Accenture didn't ask about perceptions of risk because the economy was strong at the time, a spokesman says.

Professionals who are considering switching jobs should carefully vet the financial health of a prospective employer, job recruiters say. To protect themselves, job candidates also should try to request that a severance package be included in any employment contract.

Workers may have good reason to be cautious about making a career move at such an economically volatile time. Consider what happened to an information-technology professional who resigned from his job at a New York investment bank. In late September, the employee accepted a written offer for a management job paying $120,000 a year. Days before he was to start, the new employer, a New York-based hedge fund, decided not to fill the position, citing upheaval in the financial markets as the reason, says Ron Weiss, a partner at search firm BMW Group Inc., who had introduced the parties to each other.

Though the hedge fund followed through on a promise to pay the candidate a $32,000 sign-on bonus, he was left initially without a job, says Mr. Weiss, who adds that this is the first time he has seen a job fall through at such a late stage of the process. The IT professional recently was hired by a foreign bank, the recruiter says.

Search firms say they are finding it harder to lure prospective candidates. "We have to really create for them something that is a sure thing," says Robin Bland, a senior recruiter at QuestPro, a search firm in Dallas that specializes in the insurance industry. "We have to bombard them with information about a potential employer so they feel secure about it."

Candidates also are taking longer to make up their minds about a job offer, says Aaron Brooks, managing director at Chicago-based search firm Mergis Group. "Companies need to realize that candidates are more in the driver's seat than they might think," he says.

Professionals should consider that when an employer needs to lay off workers, "sometimes it's last in, first out," says Dale Winston, chairman and chief executive officer of Battalia Winston International, an executive-search firm based in New York. In other instances, an entire division may be cut.

Kevin Burke was laid off earlier this month as a vice president of finance at a large chemical manufacturer after just seven months at the job. He had relocated his family for the position from Ohio to Missouri, where he bought a home. He says the company was having financial troubles and eliminated the department he worked in. "I certainly was surprised," he says.

Mr. Burke, 41 years old, had left behind a similar job at an automotive manufacturer. Despite the upheaval, he says, he doesn't blame his latest employer for what happened. "Market conditions dictated this result," he says. "Nobody expected the economy to burst as it has."

Job candidates may be able to protect themselves to some degree by asking prospective employers some direct questions, says Paula Marks, an executive coach and managing partner at Gilbert Tweed Associates, an executive-search firm in New York. For example: What's the financial status of the company? What is the employee turnover like? Do you expect the company to be sold anytime soon? When was the last time you had layoffs? What criteria did you use for those layoffs?

Meanwhile, do some research on your own, adds Ms. Marks. Search the Web for news articles for insight into a potential new employer's financial status and layoff history. If it's a public company, review its 10-K filings with the Securities and Exchange Commission -- documents that summarize a public company's performance. Networking is also critical, says Ms. Marks. Seek out referrals to past and present employees at the company you're considering joining to get their opinions and more information about the organization.

Candidates also should try to secure a severance package as part of their employment contract and have an attorney review it before accepting a job offer, says Ms. Marks. Propose the same size package your current employer has promised you if you were to be dismissed, she advises. Should you want another amount, offer what you're most comfortable with. If your request is rejected, consider turning the offer down. "You have to protect yourself," she says.

It's wise to weigh the pros and cons of a job change with a professional career coach or mentor, says Ms. Marks. "Don't discuss it with friends and family. They bring their own baggage, their own fears."

-- Revenue of $271.4 million, a decrease of 9.6 percent from $300.4 million for the third quarter of 2007 -- Gross margin of $114.9 million, or 42.3 percent of revenue, down 11.3 percent from $129.4 million, or 43.1 percent of revenue for the same period last year

-- Adjusted EBITDA* of $6.0 million, or 2.2 percent of revenue, down 43.6 percent from $10.6 million for the third quarter of 2007

-- EBITDA* of $3.1 million, or 1.1 percent of revenue, down 72.5 percent from $11.1 million for the same period last year

-- Net loss from continuing operations of $0.7 million, or $0.03 per basic and diluted share, compared with net income of $3.0 million, or $0.12 per basic and diluted share for the third quarter of 2007

-- Net loss of $0.3 million, or $0.01 per basic and diluted share, compared with net income of $3.6 million, or $0.14 per basic and diluted share for the third quarter of 2007

* Adjusted EBITDA and EBITDA are defined in the segment tables at the end of this release.

"Our third quarter performance was adversely impacted by weakening economic conditions in all of our major markets around the world," said Jon Chait, Hudson Highland Group chairman and chief executive officer. "Despite the macro-economic environment, we continued to see growth in continental Europe, North America's Legal business and Asia. While we are clearly entering a negative economic cycle, I am encouraged by our team's continuing diligence on cost containment and an across-the-board focus on high-demand specializations to cushion the cyclical impact."

"In the third quarter, strong expense management helped offset the top-line challenges," added Mary Jane Raymond, executive vice president and chief financial officer. "Our operational teams did a good job reducing expenses by $10 million from the prior year. In addition, our liquidity remains strong with more than $44 million in cash and a $75 million credit facility."

Restructuring Program
During the remainder of 2008, the company expects to continue to streamline its operations in parallel with shifting market conditions. The company expects to have $8 - $12 million of restructuring charges for the full year, higher than the previous guidance range of $5 - $7 million, and including $2 - $6 million for the fourth quarter. During the first nine months of 2008, the company incurred $5.6 million of restructuring charges in conjunction with its 2008 program. Third quarter expenses were primarily related to severance and reorganization in Hudson Asia Pacific and Europe.

Share Repurchase Program
On February 4, 2008, the company announced that its board of directors authorized the repurchase of up to $15 million of the company's common stock. The company intends to make purchases from time to time as market conditions warrant. During the third quarter, the company repurchased 53,500 shares at a total cost of approximately $0.5 million. Since the inception of the program, the company has repurchased 754,673 shares at a total cost of approximately $5.8 million.

Currency Impact during the Quarter
As the company noted previously, exchange rate movement during the third quarter negatively impacted reported results when compared to the prevailing rates at the time third quarter guidance was established. The strengthening U.S. dollar lowered both revenue and expenses in international operations. The impact on the third quarter was a $7.2 million reduction in reported revenue and a $1.1 million reduction in reported adjusted EBITDA.

Guidance
The company currently expects fourth quarter 2008 revenue of $205 - $220 million at prevailing exchange rates and adjusted EBITDA of $2 - $5 million, excluding the impact of any restructuring, acquisitions or divestitures. This compares with revenue of $288.8 million and adjusted EBITDA of $13.1 million in the fourth quarter of 2007. Last year's fourth quarter at current guidance exchange rates would have resulted in revenue of $236.9 million and adjusted EBITDA of $9.1 million.

Additional Information
Additional information about the company's quarterly results can be found in the shareholder letter and the third quarter earnings slides in the investor information section of the company's website at http://www.hudson.com.

Conference Call/Webcast
Hudson Highland Group will conduct a conference call Wednesday, October 29, 2008 at 9:00 AM ET to discuss this announcement. Investors wishing to participate can join the conference call by dialing 1-800-374-1532 followed by the participant passcode 67938698 at 8:50 AM ET. For those outside the United States, please call in on 1-706-634-5594 followed by the participant passcode 67938698. Hudson Highland Group's quarterly conference call can also be accessed online through Yahoo! Finance at http://www.yahoo.com and the investor information section of the company's website at http://www.hudson.com.

The archived call will be available for one week by dialing 1-800-642-1687 followed by the participant passcode 67938698. For those outside the United States, the call will be available on 1-706-645-9291 followed by the participant passcode 67938698.

About Hudson Highland Group
Hudson Highland Group, Inc. is a leading provider of permanent recruitment, contract professionals and talent management services worldwide. From single placements to total outsourced solutions, Hudson helps clients achieve greater organizational performance by assessing, recruiting, developing and engaging the best and brightest people for their businesses. The company employs more than 3,600 professionals serving clients and candidates in more than 20 countries. More information is available at http://www.hudson.com.

Safe Harbor Statement
This press release contains statements that the company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including those under the caption "Guidance" and other statements regarding the company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "predict," "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These factors include, but are not limited to, the company's history of negative cash flows and operating losses may continue; the ability of clients to terminate their relationship with the company at any time; the impact of global economic fluctuations on temporary contracting operations; risks and financial impact associated with acquisitions and dispositions of non-core businesses; the company's heavy reliance on information systems and the impact of potentially losing or failing to develop technology; competition in the company's markets and the company's dependence on highly skilled professionals; fluctuations in the company's operating results from quarter to quarter; risks relating to the company's international operations, including foreign currency fluctuations; dependence on key management personnel; restrictions imposed by blocking arrangements; exposure to employment-related claims from both clients and employers and limits on insurance coverage related thereto; government regulations; any impairment to the carrying value of goodwill; restrictions on the company's operating flexibility due to the terms of its credit facility; and the company's ability to maintain effective internal control over financial reporting. Additional information concerning these and other factors is contained in the company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release. The company assumes no obligation, and expressly disclaims any obligation, to review or confirm analysts' expectations or estimates or to update any forward-looking statements, whether as a result of new information, future events or otherwise.

累，不想多打什么~ 安全就好~ 嘿嘿

话说这篇游记也应该是差不多写在回学校的前夜了。