OAKBROOK TERRACE, Ill., July 7 /PRNewswire-FirstCall/ -- General
Employment Enterprises, Inc. (Amex: JOB) announced today that it plans to
take a number of proactive measures designed to contain losses, increase
branch productivity and position the Company for a turnaround. Herbert F.
Imhoff, Jr., board chairman and CEO explained, "We continue to be concerned
about the economy and its effect on our operations, and in turn, our bottom
line. Our overall operational performance is unacceptable by any standards,
and as a result, we will be closely examining the performance and potential
of all of our offices. The Company closed three of its unprofitable offices
this year, and we will not rule out closing other underperforming
branches."
Continuing, Mr. Imhoff said, "In order to provide additional support to
our branches, we have implemented special training programs designed to
increase production levels, and to aid in recruitment and retention of the
staff that are so critical to our efforts. We believe our investment in
these programs will not only result in improved productivity, but will have
a positive impact on employee morale."
In conclusion, Mr. Imhoff said, "Right now, reducing our overall
general and administrative expenses is a top priority. We are maintaining
tight controls over spending, and continue to critically review our
cost-cutting options. We are prepared to implement some of those options if
a turnaround is slow in coming."
Business Information
General Employment provides professional staffing services through a
network of 17 branch offices located in 9 states, and specializes in
information technology, accounting and engineering placements.
The Company's business is highly dependent on national employment
trends in general and on the demand for professional staff in particular.
Because long-term contracts are not a significant part of the Company's
business, future results cannot be reliably predicted by considering past
trends or by extrapolating past results. Some of the factors that could
affect the Company's future performance include, but are not limited to,
general business conditions, the demand for the Company's services,
competitive market pressures, the ability of the Company to attract and
retain qualified personnel for regular full-time placement and contract
assignments, the possibility of incurring liability for the Company's
business activities, including the activities of contract employees and
events affecting its contract employees on client premises, and the ability
of the Company to attract and retain qualified corporate and branch
management.
SOURCE General Employment Enterprises, Inc.
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Related links:
http://www.genp.com
http://www.prnewswire.com/comp/113698.html /
CONTACT:
Doris A. Bernar, Communications Manager &
Assistant Secretary of General Employment Enterprises, Inc.,
+1-630-954-0495, fax, +1-630-954-0592, invest@genp.com
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