Kelly Svcs Inc Stock Price, News & Analysis

Kelly has launched the Equity@Work initiative aimed at creating a more equitable labor market by transforming hiring practices and addressing systemic barriers. CEO Peter Quigley announced key changes, including removing salary and criminal history from applications and updating drug offense policies. Collaborations with organizations such as the SHRM Foundation and the Detroit Regional Talent Compact will focus on improving access to education and job opportunities. This initiative seeks to connect more diverse candidates with employment opportunities and enhance inclusivity in the workforce.

Kelly (Nasdaq: KELYA, KELYB), a prominent specialty talent solutions provider, will present at the Sidoti Fall 2020 Virtual Investor Conference on September 23 & 24, 2020. Key executives, including Peter Quigley, Olivier Thirot, and James Polehna, will discuss the company's strategy and performance. The presentation is scheduled for 2:30 p.m. ET on September 24 and will be accessible via kellyservices.com. An audio replay will be available post-event.

Kelly announced the appointment of Vanessa Williams as Senior Vice President and General Counsel, effective immediately. Vanessa brings over 24 years of legal experience, previously serving at IHS Markit and R.L. Polk. She will oversee Kelly's legal and corporate security teams, manage compliance, and provide strategic legal guidance. CEO Peter Quigley expressed confidence that her background will support the company's growth strategy. Vanessa holds a Juris Doctorate from William & Mary Law School and an MBA from Wayne State University.

Kelly has appointed two key executives to enhance their staffing strategy: Amy Bouque as Chief HR Officer for full-time employees, and Jocelyn Lincoln as Chief Talent Officer focused on temporary workers. Bouque, previously with Ally Financial, is tasked with improving HR practices, while Lincoln, with 21 years at Kelly, aims to enhance the experience for temporary workers. CEO Peter Quigley expressed that both roles are crucial as Kelly navigates the evolving workforce landscape, emphasizing the importance of a strong temporary worker experience.

Kelly (Nasdaq: KELYA) reported Q2 2020 results, showing a 28.7% revenue decline year-over-year, totaling $1.0 billion. Operating earnings fell 68.2% to $11.1 million, with adjusted earnings of $10.9 million. Diluted EPS was $1.04, down 50.9%, while adjusted EPS decreased 37.0% to $0.51. The decline is attributed to reduced demand due to the COVID-19 crisis. CEO Peter Quigley noted ongoing efforts to enhance profitability and shift towards specialization in response to market challenges.

KellyOCG has been recognized as a Leader and Star Performer in Everest Group's 2020 PEAK Matrix Assessments for Services Procurement and a Major Contender in Recruitment Process Outsourcing (RPO). This marks the second consecutive year as a Leader in Services Procurement, with high ratings in vision & strategy and delivery footprint. The report highlights KellyOCG's strong performance in supplier management, technology investments, and analytics capabilities. With a focus on small and mid-markets, the firm continues to enhance its service offerings.

Kelly Services, Inc. (Nasdaq: KELYA) will announce its second quarter earnings on August 6, 2020, prior to market opening. A conference call will take place at 9:00 a.m. EDT, accessible online or via phone. A recording will be available post-call. Kelly Services connects talent with companies in various sectors, employing nearly 440,000 individuals globally and generating $5.4 billion in revenue for 2019. For more information, visit kellyservices.com.

Kelly has launched the Redefining Work playbook to support businesses amid COVID-19 challenges. The playbook offers practical solutions for workplace safety and workforce management as companies navigate reopening amidst varying state restrictions. Addressing high unemployment (13.3%), Kelly provides strategies such as implementing safety tools, rethinking workspace layouts, and enhancing employee engagement. Notable successes include hiring 450 health screeners for a client and achieving a 97% return rate for furloughed workers. This initiative aims to help organizations adapt and thrive in the evolving work landscape.