Sep 29, 2004

Swiss staffig firm takes stake in Indian HR firm

Swiss firm Adecco the biggest staffing group in the world has taken a 67% stake in Indian HR consulting firm Peopleone.

Yahoo Biz reports: Peopleone Consulting reported more than $6 million in revenues last year and is on track to more than double this in 2004/05, Adecco said in a statement.

The jobs firm did not disclose the price but said it would pay a sum in cash, which would result in it becoming the sole owner of the business over time. The purchase will make Adecco the market leader in India, it said.

India has seen a strong growth in its employment market in recent years as its economy expands.