Kornferry, the largest executive search firm in the world posted profits of $27.8m profits for Q2 2020. This was reduced from $43.8m profits the previous quarter. Revenues were down 13% to $437m in Q2. Operating expenses were reduced by approximately $50m to $442.3m.
Kornferry CEO, Gary Burnison commented “”Companies are rethinking their organizational structure, roles and responsibilities. How they compensate, engage and develop their workforce, along with the type of agile talent they hire and how they hire talent in a virtual world. That’s real, tangible opportunity for Korn Ferry.”
The company has been taking cost-saving measures due to revenues declining during the Covid pandemic.