Adecco will be forced to consider job cuts due to the downturn, according to its chief executive.

Dieter Schieff told German national newspaper Sonntag: “First we will use our high employee fluctuation of 20 to 25% annually. When that is not enough, then we certainly have to think about redundancies.”

Adecco’s net profit fell 27% in the third quarter, and those difficult business conditions were ongoing, Schieff added.