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Article: Korn/Ferry Keeping Eye on Economy Amid Cash Woes. (Corporate Focus).(Korn/Ferry International restructuring)(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- December 10, 2001
- Author:
CopyrightCOPYRIGHT 2001 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE timing of a potential economic recovery won't mean everything to Century City-based Korn/Ferry International, but it will mean a lot. Korn/Ferry, the world's largest executive-recruitment firm, rode the Web talent derby to windfall revenues in 1999 and 2000, but now it faces a significant challenge raising the cash that will be required to see it through the current layoff cycle.
"We are closely tracking the cash situation at Korn/Ferry," said Morgan Stanley analyst Chris Gutek in a recent report. He added that he expects the company to obtain the capital it needs "on terms that will be friendly to public shareholders."
Doing so won't be easy. ...