Hays posts its first loss in 23 years and blames the robots

The FTSE 250 recruiter swung to a statutory pre-tax loss of £54.5 million, versus a £1.5 million profit last year, with net fees down 8% to £905.5 million. Permanent recruitment fees fell 12%, the sharpest decline in the business, which is the segment most exposed to employers now screening candidates with AI instead of hiring junior staff. Hays cited Goldman Sachs research showing AI-heavy industries running employment up to 39% below trend since late 2022, language it used to justify pivoting toward senior, hard-to-automate roles, as the company's own strategic report lays out. A recruiter admitting AI is shrinking its own addressable market is a stranger warning than the loss itself.