Jonas Prising: I think there might be areas that we’re going to be looking at in terms of what we can do. Over time, you’ve seen us look at our geographic portfolio. You’ve seen us address a number of areas, where we think we can do better and be more focused and I think you should expect us to continue to do that. But when we have something particularly important, we tell you in advance. And now we’ve made the decisions, we’re proceeding with Proservia. But I think, Jack, maybe in this environment, clearly, we are also looking at the cost and SG&A very closely. So maybe you’d like to elaborate on this a little bit as well.
Jack McGinnis: Sure. Thanks, Jonas. Yes. And George, other examples where we have taken some actions, we did have some modest restructuring during Q2. Spain was part of that, probably the bigger part of that. The Nordics, Jonas talked about Northern Europe. Those are bench countries. We’ve done some streamlining there as well. And then, of course, Germany that we’ve talked about, where we have the Proservia wind-down commencing. So we are in line with what we said previous quarter. We are looking at parts of the business that are seeing more significant slowing and acting and taking actions but broader than that, we’re also pulling back on broader discretionary spend, looking at corporate functions, looking at country headquarter functions as well and making adjustments.
And the one area you won’t hear us talk about cutting will be sales. We’re very focused on continuing to be positioned for the upturn when it comes and we’re very focused on producer counts. So we’re keeping a very close eye on that and being very careful. But I would say, outside of producers and sales, you should expect that we’re taking a very close look and taking actions and pulling back on costs in those specific areas. And as Jonas said, we’ll talk a lot more about Proservia next quarter. We’re right in the middle of it right now, working with the workers’ councils and clients, as you would expect and we’ll give a further update next quarter.
Operator: Our next question comes from Josh Chan with UBS.
Josh Chan: I guess — I was wondering if you could talk about the relative resilience in Southern Europe versus kind of like the U.S. It sounds like that will continue into the next quarter. So I guess — just curious your thoughts on the sustainability of that difference in performance and whether you think that could continue as we kind of go into this next part of the economic cycle?
Jonas Prising: Thanks, Josh. Yes. And I would say that historically, the U.S. labor market is much more dynamic than the European labor markets. They are more rigid in their structures in the U.S. contracts that we have in both Experis as well as in Manpower are short term in nature, so you can change the length of that assignment as quickly as you would like, whereas in Europe, you have more extended contracts that have to run to their scheduled end. And also don’t forget Jeff, that the downturn in Europe started in 2022. And notably on France, France never really saw a comeback from the pandemic back to the 2019 numbers that we saw, Josh. So that’s sort of the explanation and we’re very pleased to see the stability in France.
We think the Italian market is one of the underpenetrated markets, where you could see continued increases in penetration rates. And we think that is a fantastic opportunity for us to continue to see some very profitable growth. And the U.S. market goes up and comes down faster and that is exactly what we’re seeing in this cycle as well. And when the U.S. economy rebounds and we get to the end of this, we would expect to see good opportunities for a rebound here that we would also expect to be faster on the upbound than what we would expect to see in Europe.
