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ManpowerGroup: How Organic Growth Is Emerging Despite Uneven Labor Markets?

ManpowerGroup’s financial results for the fourth quarter of 2025 exhibit a mix of stabilization and improvement across several markets, though challenges remain in particular areas. The company’s reported revenues reached $4.7 billion, reflecting a 2% growth on an organic constant currency basis. However, when factoring in their system-wide revenue, which includes an expanding franchise revenue base, the total climbed to $5.1 billion. Although the company faced significant headwinds in early 2025, the fourth quarter indicates a positive shift with sequential improvement, led partly by steady enterprise demand and tight cost management. In regional performance, the Southern Europe segment achieved 1% revenue growth in constant currency after 13 consecutive quarters of declines, highlighting significant improvement in regions such as Italy. Meanwhile, ManpowerGroup’s Northern European business reported an operational profit for the first time in five quarters, showing the effectiveness of cost reduction strategies.