Recruitment company says level of OFT fine is 'arbitrary and wholly disproportionate'

Recruitment company Hays has confirmed it is to appeal against the decision by the Office of Fair Trading to fine it £30.4m after its construction and property business took part in a cartel.

The firm said in an interim management statement it would nevertheless be taking an exceptional charge onto its accounts of £25m.

It said: “Hays has co-operated fully with the OFT in its investigation under the leniency regime and has been fined £30.4m. While Hays take the findings of the OFT's investigation seriously, we believe that the level of the fine is arbitrary and wholly disproportionate with the activities to which it relates, Hays' involvement in those activities and the way in which the OFT has dealt with other cases in the past.”