30 September 2009
Announcement from Hays PLC
Today, the Office of Fair Trading (`OFT') issued its decision finding that
Hays' Construction & Property business in the UK had breached competition law
in the period October 2004 to November 2005, along with a number of other
construction recruitment companies.
Hays has co-operated fully with the OFT in its investigation under the leniency
regime and has been fined £30.36 million. This decision represents the outcome
of previously reported proceedings which began in June 2006.
Alistair Cox, CEO of Hays, commented:
"We take the findings of the OFT investigation seriously. However, it is
important to recognise that the OFT's investigation related to an isolated
matter arising from the conduct of a single employee who is no longer with the
company and affected only a small part of our UK Construction & Property
business. At all times Hays has independently determined the price and terms on
which it has dealt with its customers and at no stage did the matters
investigated by the OFT affect Hays' dealings with its clients.
Since the start of the investigation in 2006, Hays has co-operated fully with
the OFT in all aspects of its investigation. The Board has taken appropriate
steps to strengthen Group compliance and training in this area and has
developed and implemented a detailed training programme for all key employees
which is repeated at regular intervals.
Hays believes that the level of the fine is wholly disproportionate with the
activities to which it relates, Hays' involvement in those activities and the
way in which the OFT has dealt with other cases in the past. The Group is
actively considering an appeal."
Enquiries
Maitland
Neil Bennett + 44 (0) 207379 5151
Liz Morley
HAYS plc
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