Company: KELYB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000055135-25-000016
Chunk: 5

Company: KELLY SERVICES INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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 Commission on February 13, 2025 (the 2024 consolidated financial statements).  There were no changes in accounting policies as disclosed in the Form 10-K.  The Company’s first fiscal quarter ended on March 30, 2025 and March 31, 2024, each of which contained 13 weeks. Certain reclassifications have been made to the prior year's consolidated financial statements to conform to the current year's presentation.  Specifically, as discussed in the Revenue and Segment Disclosures footnotes, the Company has made a change to its reportable segments during the first quarter of 2025.

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KELLY SERVICES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)(UNAUDITED)

2. RevenueRevenue Disaggregated by Service TypeAs of the first quarter 2025, Kelly has three operating segments: Enterprise Talent Management (“ETM”), Science, Engineering & Technology (“SET”), and Education.  The ETM segment combines two former reportable segments, Professional & Industrial (“P&I”) and Outsourcing & Consulting Group (“OCG”), along with the transfer of certain customers from the SET segment to better align delivery models and improve go-to market strategies (see Segment Disclosures footnote).  In the first quarter of 2025, the Company also integrated the Sevenstep business—which had previously been included in the SET segment—into the ETM segment as part of the broader Motion Recruitment Partners integration strategy.  The Company's segments deliver talent through staffing services, permanent placement or outcome-based services.  The Company's ETM segment also delivers talent solutions including managed service provider (“MSP”), payroll process outsourcing (“PPO”), and recruitment process outsourcing (“RPO”).  The 2024 ETM and SET segment information has been recast to conform to the new structure.The following table presents the Company's segment revenues disaggregated by service type (in millions of dollars):First Quarter20252024Enterprise Talent ManagementStaffing services$280.7 $285.9 Permanent placement2.3 2.7 Outcome-based services133.2 130.8 Talent solutions117.8 104.7 Total Enterprise Talent Management534.0 524.1 Science, Engineering & TechnologyStaffing services204.9 140.0 Permanent placement8.1 4.2 Outcome-based services109.4 87.4 Total Science, Engineering & Technology322.4