Adecco invests in Indian group
Adecco, the global recruitment giant, has bought the Indian employment group Peopleone Consulting in a bid to cash in on the growing outsourcing market.
The agency plans to use the purchase as a launchpad for an expansion programme into India.
Peopleone is a medium-sized company based in Bangalore, with 12 offices across the subcontinent.
With funding from Adecco, which has bought a two-thirds stake for an undisclosed sum, the business aims to expand the number of offices to 30. Adecco chief executive Jerome Caille said India’s growing economy meant the temporary staffing market could expand from 40,000 to 400,000 over the next three years.
The move follows in the steps of Adecco’s rival Vedior which bought a 76% stake in the Indian HR services firm Ma Foi Management Consultants in May.
