ե֭

Construction

Thu October 31 2024

Related Information

Hays makes £30m provision for OFT fine

2 Sep 10 ե֭ recruitment firm Hays has made a £30.4m provision for a fine it received from the Office of Fair Trading (OFT) last year.

Construction recruitment firm Hays has made a £30.4m provision for a fine it received from the Office of Fair Trading (OFT) last year.

The penalty was handed out by the OFT to six recruiters for price-fixing and the collective boycott of another company in the supply of candidates to the construction industry.

.

A statement from the firm said: “Hays co-operated fully with the OFT in its investigation under the leniency regime and was fined £30.4m. The Group is appealing the decision and whilst in progress, the £30.4m fine is being held on deposit by Hays.

“The fine has not yet been paid and a current liability of £30.4m is held on the balance sheet within trade and other payables, pending the outcome of the appeal.”

Sign up to our or subscribe to our for regular updates on the latest , , , and .

Got a story? Email news@theconstructionindex.co.uk

MPU
MPU

Click here to view latest construction news »