Global specialist recruitment and workforce‑solutions group Hays has continued its strategic restructuring programme with the sale of its operations in six European countries to private equity investor Meraki Capital, while also "exploring options" related to a further half a dozen markets.

Its businesses in the Czech Republic, Denmark, Hungary, Luxembourg, Romania and Sweden were sold on 16 June and generated approximately £4m in net cash proceeds after transaction costs. Hays said the disposal will result in a modest non-cash loss in the second half of FY26.

The divested operations primarily provide specialist recruitment services to local customers and form part of a wider portfolio review aimed at concentrating resources on markets where the company believes it can build scale and stronger competitive positions.

The disposal follows Hays' exit from four other countries over the past year and leaves the company focused on 16 core markets.

Hays is also exploring options for a further seven countries — Belgium, Brazil, Greater China, Malaysia, the Netherlands, Singapore and the UAE. Together, these markets are expected to generate around £85m in net fees in the year to 30 June 2026 while delivering broadly break-even pre-exceptional operating profit.

“Reshaping our portfolio to provide a sharper focus and build scale in high performing and high potential markets remains a key strategic priority for Hays," said CEO Mark Dearnley.

Shares rose between 1.9% and 3.35% in early trading following the announcement.

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