Barrett Business Services, Inc. announces an Equity Buyback for $75 million worth of its shares.
August 02, 2023 at 04:09 pm
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Barrett Business Services, Inc. (NasdaqGS:BBSI) announces a share repurchase program. Under the program, the company will repurchase up to $75 million worth of its common stock. The repurchase program is valid for a period of 2 years.
Barrett Business Services, Inc. is a provider of business management solutions for small and mid-sized companies. It has developed a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It operates a decentralized delivery model using operationally focused business teams, typically located approximately 50 miles from its client companies. It offers two services: professional employer services (PEO) and staffing. Under PEO, it establishes to a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers compensation and benefits coverage (if elected) and certain other administrative functions for the clients existing workforce. The staffing services include on-demand or short-term staffing assignments, contract staffing, direct placement, and long-term or indefinite-term on-site management.