SearchPath HCS Announces Major Restructuring, While Reporting 30% Revenue Growth »
Cleveland, OH (PRWEB) February 13, 2012 SearchPath HCS, Inc. (Pink Sheets: SRCP), announced today a major restructuring of the company and that our active offices, year over year, have seen a 30% increase in revenue.
Founded in 2005, the company has evolved and adapted its service offering to reflect the changing market conditions. “The difficult financial markets that we have experienced over the last several years forced us to reevaluate and restructure our franchising operations,” stated, Thomas Johnston, President and CEO of SearchPath HCS. “Due to the strengthening market, as reflected by the substantial increase (30%) in revenue in our active offices, and because of increased demand for a low cost, highly profitable, professional services franchise offering focused on helping top companies identify and recruit top talent, we felt that we needed a complete overhaul of our original platform. We have a significant number of our SearchPath International franchises that have failed to meet our stringent performance and compliance criteria. Over the next couple of quarters, we will be working closely with each of our underperforming units to either improve performance or, if they do not become compliant, to terminate their franchise agreements.”
Johnston continued, “In an effort to best prepare our organization for continued growth and to build a platform to capture market share and leverage the increasing demand for top performing talent, we will build on the SearchPath brand and leverage our reputation of being one of the most aggressive and successful headhunting organizations in the industry.”
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By Tim Spagnola
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