February 11, 2020 / 7:30 AM / 7 days ago

CORRECTED-Recruiter Nakama warns of dwindling cash, recruitment hit by coronavirus

(Corrects quote to show headcount reductions have already taken place)

Feb 11 (Reuters) - Recruitment firm Nakama Group warned on Tuesday it is in urgent need for capital as it grapples with high costs and said revenue was hit in Hong Kong and Singapore because of the outbreak of the coronavirus.

“While headcount in the Group has decreased year on year, the Board believes these reductions are necessary in order to bring the cost base in line with revenues to ensure the business continues to be profitable,” the company said. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Bernard Orr)

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