Westaff (NASDAQ:WSTF)
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From Dec 2019 to Dec 2024
Westaff, Inc. (NASDAQ:WSTF), a leading provider of staffing services,
announced today that it has established a staffing relationship with
SIRVA, Inc. Under the terms of the agreement, Westaff will act as a
single source provider by centralizing and managing SIRVA’s contingent
staffing program. As part of the staffing portfolio, Westaff will be
providing in-depth recruiting and placement for SIRVA’s administrative,
clerical and information technology divisions in 8 offices nationally.
“Our new relationship with SIRVA is a testament to Westaff’s strength in
delivering quality solutions to well-known and respected companies,”
noted Westaff CEO and Chairman Michael T. Willis. “In addition, the
partnership underscores Westaff’s operational strength, as well as the
company’s ability to provide staffing solutions that are
mission-critical and fully integrated into our customers’ businesses.”
“We are pleased to be working with Westaff to ensure that our staffing
needs are managed more efficiently,” said Meg Pais, Vice President of
Human Resources for SIRVA, Inc. “Westaff’s commitment of providing the
most experienced and qualified personnel enables us to place the best
candidates in the right positions who will drive our business towards
growth and success.”
SIRVA, Inc. is a leader in providing relocation solutions to a
well-established and diverse customer base around the world. The company
provides innovative ways for customers to achieve their individual
business goals, while providing global end-to-end relocation services,
including program development and management, home purchase and home
sale services, household goods moving, and mortgage services. SIRVA
conducts more than 300,000 relocations every year, transferring
corporate and government employees and moving individual consumers. The
company operates in more than 40 countries with approximately 3,000
employees and an extensive network of agents and other service providers
in over 175 countries. Other recognized brands include Allied, Allied
International, Allied Pickfords, Allied Special Products, DJK
Residential, Global, northAmerican, northAmerican International, SIRVA
Mortgage, SIRVA Relocation and SIRVA Settlement.
About Westaff
Westaff provides staffing services and employment opportunities for
businesses in global markets. Westaff annually employs more than 100,000
people and services thousands of client accounts throughout the United
States. For more information, please visit the company Web site at www.westaff.com.
This press release contains forward-looking statements within the
meaning of the U.S. securities laws. Forward-looking statements in this
release are generally identified by words such as “expects,” “believes,”
“will,” “should” and similar expressions that are intended to identify
forward-looking statements. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date hereof. All forward-looking statements are qualified in their
entirety by this cautionary statement. Forward-looking statements
contained herein include, but are not limited to, statements regarding
(i) Westaff's expectations regarding the company's growth
prospects; (ii) Westaff’s expectation that it will continue its plans
for growth and expansion; (iii) that Westaff's relationship with
DelStaff will continue; and (iv) that Westaff will have access to
capital under the Subordinated Loan Agreement The forward-looking
statements contained herein involve a number of assumptions, risks and
uncertainties that could cause actual results to differ materially from
those expressed or implied by these forward-looking statements. Many of
these risks and uncertainties cannot be controlled by the Company. These
risks and uncertainties include, but are not limited to: an intensely
priced competitive market; Westaff’s ability to continue to obtain a
forbearance or that such forbearance would be on terms acceptable to
Westaff; our significant working capital needs and our ability to borrow
to meet those needs; our ability to borrow under our credit facilities
and our compliance with their debt covenants; variability of the amount
of collateral that we are required to maintain to support our workers’
compensation obligation; the sufficiency of our workers’ compensation
claims reserve; variability of employee-related costs, including
workers’ compensation liabilities; possible adverse effects of
fluctuations in the general economy; our ability to collect on our
accounts receivable; risks related to franchise agent operations; risks
related to international operations and fluctuating exchange rates;
reliance on executive management and key personnel; our ability to
attract and retain the services of qualified temporary personnel; the
ability of our customers to terminate our service agreement on short
notice; variability of the cost of unemployment insurance for our
temporary employees; any difficulty with our information technology
system; government regulation; potential exposure to employment-related
claims; the volatility of the Company’s stock price; increased
regulatory compliance costs; and litigation and other claims. Additional
information concerning the risks and uncertainties listed above, and
other factors you may wish to consider, is contained in the Company’s
filings with the Securities and Exchange Commission, including the
Company’s most recent Annual Report on Form 10-K for the year ended
November 3, 2007 and Quarterly Report on Form 10-Q for the quarterly
period ended July 12, 2008.
Forward-looking statements are based on the beliefs and assumptions
of the Company's management and on currently available information. The
Company undertakes no responsibility to publicly update or revise any
forward-looking statement except as required by applicable laws and
regulations.