Firms cutting thousands of jobs is bad news for them and their workforce, but good news for HR consultancy Penna.
The group - which helps financial services and other blue chip firms manage redundancies - has boosted its profit forecast for the financial year.
In the four months to January 2009, Penna's career transition division - which provides outplacement services to recently sacked staff, such as CV workshops and career coaching - "significantly exceeded" the 39% growth it recorded in the previous six months.
Penna has even opened two new offices to deal with the demand of credit crunch casualties. With unemployment expected to hit three million by the end of the year, and the recession continuing deep into 2010, it could really be a boom time for Penna and its competitors.
