KELLY SERVICES INC

ITEM 1. BUSINESS. History and Development of Business William Russell Kelly pioneered the staffing industry when he founded Kelly® in 1946 and we’ve been reinventing it ever since. Our inception helped usher in and embolden a workforce of women who kept the economy moving forward during World War II, opening doors and creating completely new opportunities. Over the next 79 years, as work evolved, Kelly continued to equip people with the skills to master new technologies as they emerged and the opportunity to put them to work in ways that enriched their lives. As the world of work has evolved, so have our offerings to reflect the changing needs of employers and talent. In 1996, Kelly…

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ITEM 1A. RISK FACTORS. Risks Related to Macroeconomic Conditions Our business is significantly affected by fluctuations in general economic conditions. Historically, the general level of economic activity and employment in the United States and the other countries in which we operate has significantly affected the demand for staffing services. In periods of economic growth, employers often add temporary employees before hiring full-time employees. However, when economic activity declines, many employers reduce their use of temporary employees before laying off full-time employees. Customer responses to real or perceived economic conditions, including perceptions related to market…

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