Thank you, Okay. Kim.
from question paraphrasing the there – also Another the month The answer the XXX,XXX middle days. stock is closing upward the around days like a company happens of mediums. it? it. large if slightly And trades manipulation? too concerned several that we the close. were electronic of stock And short of to maybe that position lot five don’t is for and the is occur have price who not hours. some trades I influenced at that after of New there are made that question. the it Is time That trades some in large large seems we’re just on doing the know. were those I’m don’t about And four at our time We A or around so, in or the to either. observed York stock
the has suggested at price, we’re been that So stock be. And was I who not that to might think question, of trying the temporary aware if someone it’s best. manipulate in
preclude The comment with until comments because position? do – what other large up The to had stock until your you restricted up being buybacks. of related date the of loans would We that now cash the came are we That one-year forgiven. CARES the precluded stock couple were question Act, about a to a that that mid-December going time buyback. is, loan doing you PPP last were that after you from of
these Those stock So buybacks Street. that meetings. happening now be after releases that discussions could we’re And earnings that Directors soon address done. Board with by in will digested get position we our at are a our The
be XXbX-X on SEC which adopt. some buybacks are There we that likely some on there plans, rules stock would are the So [filed]. rules to
harbors we when advantage a we that take when can – XXbX-X. do in if safe that the and So we buyback of
is million, are So the excise encouraged that also you was all X% Congress, to background President and X% because I There’s questions give adopted tax buybacks. out on that had those things there. a excise by buybacks by $X that just a tax several are on over
I’m The I’m on do your soon well historically, it how we done earnings buybacks, working by will digested. would So And you with is the you the the no. answer [indiscernible] What have to that company. after largest to familiar capital? them. need do answer shareholder. address are cash? Do for
days. capital Our number the working I our think, about and receivable, of XX collection sustained Those billings. accounts gave is DSO Kim by of you receivable accounts
and So working reserves having we’re for our really tapping facility ABL we’re not our definitely cash to capital. not tap
directors. a on cash So Prospects our additional we very well we’re subject management doing for that profitable conversations with growth. cash how and is deploy future of
for economy in Let general the in – our what’s the in happened me labor U.S. and industry address the
announcement. for with through said very and or layoffs both. combination during potential optimistic, this with some recessions were our quarter quarter we way our third macroeconomic was but or I of turbulence fourth issues So some
seen layoffs at We customers. have
happens the higher We contract for contract reduced when the type quarter, some XXXX all have full-time I or to noise robust during full-time full-time quote employment a kick of of But And big consistent. in of to drops economic back opportunities seen the typically hires year in, some midway and was full-time during saw some a hiring fourth what cycle end in hire hiring downturn year starts fiscal goes comes tighten economy, was of way. those the away. for And up we hires. a headcount the time. towards And full-time then tend or noise in drop a way. for hires period then and a
of board. that’s interestingly across of at period that if but by – a doing, Sachs in off the now. hurt were what full-time not a employers Goldman the are client we’re news, is ours. large we their lot could enough, point, that. this in you banking, business people, And just Goldman you of and see investment So laid And corporate not, substantially indicative see
there. We have labor contract
hold. However, if have with full-time that But the people of this would contract interest going the a in, uncertainty. on we is here going of general I call downturn, stayed high out. got they rate is But hires level don’t you’ve were what far if have hiring there put that so we’re those point environment. somewhat during muted the period know People
a believe not at on will been said have same they outlook people come perm all placements I the we’re hiring really same because so except assuming, in in that’s competition because quite Some as of spring end be doing when I of turbulence to up has dampened interest and potential hard well the say comeback were additional level with that, expense our full-time forth. And kicking economic XXXX, the thing. fiscal the on we’ll front.
sector, Amazon’s, have or those Interestingly, Additionally, the as to us were the of the forth back our tech off career. the their before read, as and for know, Google’s, in you so business people have recruiters people. coming they’re and a lot in Facebook’s laid
the and pick the can brightest. we best So and choose
is outlook good. Our
We have cash. plenty of
not will waste it. We
of And front, SG&A. commissions We because at if we SG&A it down on to the business also that also based our go and it SG&A adaptations included all will drop make the will use the are will placements judiciously. some volume in on
So will somewhat and reduce that the and cost it extent occur revenue to But the that we do in SG&A, well. it’s according stream will adjust to we variable respects. absolutely can a many as which
go will away after SG&A the So one-time quarter. in the some of items fourth
give they Can that two quarters, the I share well So the last quarters. In going talked a more this move I please of bit versus again covered on. Kim, management SG&A buybacks. pretty last in remember last would so good, management address as going I’m think year indicated QX why ballooned color little to year? two forward. you in has on that that about
see. Let’s
This moving it doing about environment. buyback Again, share flow question. that. more Address with I that. XXXX? in says, we’re Okay. challenging we’re a free into address And what economic comment cash your priorities
cash the the good you should see. affect up pretty high that’s activity Obviously, Things would the XXXX into Okay, recessions, the client payroll, I you they’re expectation. are degree for We’ll activate current a were more but faster buybacks. of lot of some for on the take collect because pace And than downturn spending first definitely there’s that on of the stock receivables several question. of hold putting we staffing part books account. our in [indiscernible] Can bit uncertainty, but into the pattern. do going hiring views so payroll. recession in typically, call I’ve us? they’re buyback? they towards a see another and including book, Will again hold. out add tell good, year January, a of the a How through at see can the interest cranks couple then some companies Let’s putting later end on And are in spring. activity? hires people then as to managed you, what money money collecting much we And there’s were not I that
time a financial duration About recession. approximately to the But for time, XX for it. attached which So average months calamity cash had issue up to the a and recession, the flow months. actually X XXXX goes for
on and if flow we’re it, concerned to cash draw and cash think the credit ability not at So about if need position debt that, and with you through we our all. our no
tell that. waste not will We you I could cash.
downturn The will that So do question accumulated you ones. And sail you for through you them? up. is cash Yes? use Will cash the came Only very have any if your one? the you Yes. answer yes. exactly see good execute? judiciously? Can you that absolutely, we’ve Acquisitions, reason
plan but us underlying dunk. well fiscal XXXX? macro into Do may hitting from to in we a year to it’s keep going that not you we number, have target your to a in if to in fiscal this expect factors We’re will layoffs question? same answer recruiting buyback in value really is is is much do that The corporate particularly internally. earnings get side. in shareholder on quite What The the of jump against not America with going unlock depicted XXXX the stock do continue event. We talent? slam pretty to answer the one the you the the recruiting a talent. able litter, good Availability job lot Are
back Analysts to to been coverage. we’ve with before. to industry recruiters weren’t that or company our able some us our So our back and company attract to
working on your with to We’re more long-term strategy. that get
see Our revenue we’re doing, strategy is it cycle, to particularly adjusting continue the streams that doing we to costs, what revenue managing debt-free.
the Let’s XXXX, it XXXX flat XXXX I outlook a declining where XXXX. or would hiring hire? a of see. probably or fiscal direct at hire levels levels? or an XXXX? off It in bit for and was Is business it a that. COVID charts permanent fiscal better will will for was XXXX the was The muted of because And era. fiscal during be the indicator be to mentioned be XXXX that fiscal bit fiscal hires probably Is abnormality. direct are was
Okay.
of perm They’re looking be. economy. although the hard of in turbulence economic perm pricing little is in then a will they’d to hires Temp time, to muted for and was comment will period stay hiring Did we SG&A. the The come pretty temp but you not there’s a yes. temp period seeing that back management acquisitions? potentially between which kicking Another the to perm bit up should but answer and decreases? holding good. how that. somewhere got XXXX question bit is Do on increase, start on we’re because uncertainty a If hitting February a increasing pretty transition still, somewhat We anything, level, see and down as benchmark December of the
finished. are questions the So
