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form_8-k.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 31, 2011

MANPOWER INC.

(d/b/a ManpowerGroup)

(Exact name of registrant as specified in its charter)

Wisconsin	1-10686	39-1672779
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

100 Manpower Place
Milwaukee, Wisconsin	53212
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: (414) 961-1000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

	Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12)

	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

The information contained in Item 7.01 of this Form 8-K is incorporated by reference into this Item 2.02.

Item 7.01 Regulation FD Disclosure

Effective January 1, 2011, we created a new organizational structure in Europe in order to elevate our service quality throughout Europe, Middle East and Africa. Other Southern Europe and Northern Europe, previously reported in Other EMEA, are now separate reportable segments. France, Italy, and Other Southern Europe are aggregated into our Southern Europe reportable segment. All previously reported results have been restated to conform to the current year presentation. Additionally, we changed the name of our Asia Pacific reportable segment to APME; the results of this reportable segment have not been restated as only the name has changed. Attached hereto as Exhibit 99 is our Operating Unit Results since January 1, 2009, revised to conform to the current year presentation.

The information furnished pursuant to this Item 7.01 and Item 2.02 of this Form 8-K, including Exhibit 99 attached hereto, is not deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. Further, such information, including Exhibit 99, shall not be deemed to be incorporated by reference into the filings of the registrant under the Securities Act of 1933.

Item 9.01. Exhibits.

Exhibit No.			Description
	99		Operating Unit Results reflecting the restatement of segment results

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

		MANPOWER INC. (d/b/a ManpowerGroup)

Dated: March 31, 2011	By:	/s/ Michael J. Van Handel
		Michael J. Van Handel Executive Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit No.			Description
	99		Operating Unit Results reflecting the restatement of segment results

exhibit_99.htm

Exhibit 99

Manpower Inc. (d/b/a ManpowerGroup)
Restated Operating Unit Results
(In millions)

Effective January 1, 2011, we created a new organizational structure in Europe in order to elevate our service quality throughout Europe, Middle East and Africa. Other Southern Europe and Northern Europe, previously reported in Other EMEA, are now separate reportable segments. France, Italy, and Other Southern Europe are aggregated into our Southern Europe reportable segment. All previously reported results have been restated to conform to the current year presentation. Additionally, we changed the name of our Asia Pacific reportable segment to APME; the results of this reportable segment have not been restated as only the name has changed.

	Three Months Ended March 31												Three Months Ended June 30
							% Variance												% Variance
							Amount			Constant									Amount			Constant
	2010			2009			Reported			Currency			2010			2009			Reported			Currency
	(Unaudited)												(Unaudited)
Revenues from Services:
Americas:
United States	$	482.7		$	426.5			13.2	%		13.2	%	$	726.6		$	422.4			72.0	%		72.0	%
Other Americas		294.5			219.2			34.4	%		22.8	%		306.1			220.7			38.6	%		30.9	%
		777.2			645.7			20.4	%		16.4	%		1,032.7			643.1			60.6	%		57.9	%

Southern Europe:
France		1,107.5			956.9			15.7	%		9.3	%		1,255.9			1,100.1			14.2	%		22.6	%
Italy		234.2			220.4			6.3	%		0.4	%		258.8			230.1			12.5	%		20.6	%
Other Southern Europe		158.4			122.9			28.8	%		20.3	%		168.5			130.2			29.5	%		32.2	%
		1,500.1			1,300.2			15.4	%		8.9	%		1,683.2			1,460.4			15.3	%		23.2	%

Northern Europe		1,221.2			1,135.9			7.5	%		-1.7	%		1,265.2			1,125.7			12.4	%		16.4	%
APME		497.5			425.2			17.0	%		5.3	%		505.7			406.2			24.5	%		15.4	%
Right Management		103.3			136.0			-24.0	%		-27.9	%		98.8			158.1			-37.5	%		-37.8	%
	$	4,099.3		$	3,643.0			12.5	%		5.1	%	$	4,585.6		$	3,793.5			20.9	%		23.7	%

Operating Unit Profit (Loss):
Americas:
United States	$	(11.9	)	$	(20.5	)		N/A			N/A		$	14.7		$	(14.3	)		N/A			N/A
Other Americas		9.6			4.8			101.6	%		87.6	%		8.7			3.9			122.3	%		110.7	%
		(2.3	)		(15.7	)		N/A			N/A			23.4			(10.4	)		N/A			N/A

Southern Europe:
France		0.2			1.0			-83.9	%		-69.7	%		9.9			4.2			139.8	%		168.6	%
Italy		6.8			1.4			384.9	%		361.8	%		13.5			6.8			99.4	%		115.2	%
Other Southern Europe		(0.9	)		(3.2	)		-72.6	%		-72.6	%		2.1			(2.6	)		N/A			N/A
		6.1			(0.8	)		N/A			N/A			25.5			8.4			205.6	%		230.7	%

Northern Europe		19.0			1.0			1849.4	%		1677.2	%		28.4			(3.0	)		N/A			N/A
APME		12.5			12.1			3.6	%		-9.3	%		12.0			3.5			237.3	%		215.1	%
Right Management		12.5			29.1			-56.9	%		-58.1	%		7.8			42.3			-81.5	%		-81.7	%
		47.8			25.7									97.1			40.8
Corporate expenses		(24.0	)		(19.0	)								(22.8	)		(16.5	)
Intangible asset amortization expense		(4.9	)		(5.3	)								(11.6	)		(5.3	)
Reclassification of French business tax		13.7			-									16.4			-
Operating profit		32.6			1.4			N/A			N/A			79.1			19.0			314.9	%		331.0	%
Interest and other expenses		(12.9	)		(11.9	)								(11.9	)		(10.8	)
Earnings (loss) before income taxes	$	19.7		$	(10.5	)							$	67.2		$	8.2

	Six Months Ended June 30
							% Variance
							Amount			Constant
		2010			2009		Reported			Currency
	(Unaudited)
Revenues from Services:
Americas:
United States	$	1,209.3		$	848.9			42.4	%		42.4	%
Other Americas		600.6			439.9			36.5	%		26.9	%
		1,809.9			1,288.8			40.4	%		37.1	%

Southern Europe:
France		2,363.4			2,057.0			14.9	%		16.4	%
Italy		493.0			450.5			9.4	%		10.7	%
Other Southern Europe		326.9			253.1			29.2	%		26.4	%
		3,183.3			2,760.6			15.3	%		16.4	%

Northern Europe		2,486.4			2,261.6			9.9	%		7.3	%
APME		1,003.2			831.4			20.7	%		10.2	%
Right Management		202.1			294.1			-31.3	%		-33.2	%
	$	8,684.9		$	7,436.5			16.8	%		14.6	%

Operating Unit Profit (Loss):
Americas:
United States	$	2.8		$	(34.8	)		N/A			N/A
Other Americas		18.3			8.7			110.9	%		98.0	%
		21.1			(26.1	)		N/A			N/A

Southern Europe:
France		10.1			5.2			96.2	%		122.1	%
Italy		20.3			8.2			148.4	%		157.5	%
Other Southern Europe		1.2			(5.8	)		N/A			N/A
		31.6			7.6			316.9	%		342.1	%

Northern Europe		47.4			(2.0	)		N/A			N/A
APME		24.5			15.6			57.0	%		41.9	%
Right Management		20.3			71.4			-71.5	%		-72.1	%
		144.9			66.5
Corporate expenses		(46.8	)		(35.5	)
Intangible asset amortization expense		(16.5	)		(10.6	)
Reclassification of French business tax		30.1			-
Operating profit		111.7			20.4			447.6	%		441.4	%
Interest and other expenses		(24.8	)		(22.7	)
Earnings (loss) before income taxes	$	86.9		$	(2.3	)

	Three Months Ended September 30												Three Months Ended December 31
							% Variance												% Variance
							Amount			Constant									Amount			Constant
		2010			2009		Reported			Currency				2010			2009		Reported			Currency
	(Unaudited)												(Unaudited)
Revenues from Services:
Americas:
United States	$	797.0		$	458.1			74.0	%		74.0	%	$	777.1		$	479.0			62.2	%		62.2	%
Other Americas		317.1			243.5			30.3	%		25.8	%		347.8			283.9			22.5	%		19.5	%
		1,114.1			701.6			58.8	%		57.3	%		1,124.9			762.9			47.5	%		46.3	%

Southern Europe:
France		1,411.6			1,314.1			7.4	%		18.8	%		1,433.6			1,304.4			9.9	%		19.5	%
Italy		257.1			231.0			11.3	%		23.1	%		294.1			269.3			9.2	%		18.8	%
Other Southern Europe		183.0			167.5			9.3	%		16.0	%		189.0			170.3			10.9	%		15.1	%
		1,851.7			1,712.6			8.1	%		19.1	%		1,916.7			1,744.0			9.9	%		18.9	%

Northern Europe		1,365.0			1,211.8			12.6	%		20.1	%		1,492.7			1,307.4			14.2	%		19.7	%
APME		555.7			427.9			29.8	%		20.5	%		588.3			468.7			25.5	%		16.5	%
Right Management		85.5			135.7			-37.0	%		-36.5	%		87.0			129.6			-32.9	%		-32.4	%
	$	4,972.0		$	4,189.6			18.7	%		24.1	%	$	5,209.6		$	4,412.6			18.1	%		22.1	%

Operating Unit Profit (Loss):
Americas:
United States	$	25.9		$	1.1			N/A			N/A		$	14.1		$	(7.7	)		N/A			N/A
Other Americas		8.2			5.5			49.4	%		43.2	%		10.0			5.9			67.9	%		63.9	%
		34.1			6.6			415.1	%		409.9	%		24.1			(1.8	)		N/A			N/A

Southern Europe:
France		25.0			10.6			135.6	%		160.6	%		12.0			5.0			138.0	%		156.7	%
Italy		11.4			8.6			30.7	%		44.6	%		15.8			11.1			43.2	%		55.6	%
Other Southern Europe		3.2			0.4			744.6	%		748.6	%		2.8			(0.7	)		N/A			N/A
		39.6			19.6			101.3	%		121.0	%		30.6			15.4			98.8	%		112.6	%

Northern Europe		39.8			15.6			156.7	%		177.0	%		63.0			27.2			130.4	%		141.5	%
APME		13.1			4.0			234.1	%		210.9	%		9.6			6.9			42.0	%		32.4	%
Right Management		-			21.2			N/A			N/A			(16.8	)		20.8			N/A			N/A
		126.6			67.0									110.5			68.5
Corporate expenses		(23.6	)		(21.1	)								(30.8	)		(20.8	)
Goodwill and intangible asset impairment charges		-			(61.0	)								(428.8	)		-
Intangible asset amortization expense		(11.6	)		(6.4	)								(11.2	)		(4.9	)
Reclassification of French business tax		17.5			-									17.7			-
Operating profit		108.9			(21.5	)		N/A			N/A			(342.6	)		42.8			N/A			N/A
Interest and other expenses		(8.4	)		(29.3	)								(10.0	)		(12.6	)
Earnings (loss) before income taxes	$	100.5		$	(50.8	)							$	(352.6	)	$	30.2

	Nine Months Ended September 30												Year Ended December 31
							% Variance												% Variance
							Amount			Constant									Amount			Constant
		2010			2009		Reported			Currency				2010			2009		Reported			Currency
	(Unaudited)												(Unaudited)
Revenues from Services:
Americas:
United States	$	2,006.3		$	1,307.0			53.5	%		53.5	%	$	2,783.4		$	1,786.0			55.8	%		55.8	%
Other Americas		917.7			683.4			34.3	%		26.5	%		1,265.5			967.3			30.8	%		24.4	%
		2,924.0			1,990.4			46.9	%		44.2	%		4,048.9			2,753.3			47.1	%		44.8	%

Southern Europe:
France		3,775.0			3,371.1			12.0	%		17.4	%		5,208.6			4,675.5			11.4	%		18.0	%
Italy		750.1			681.5			10.1	%		14.9	%		1,044.2			950.8			9.8	%		16.0	%
Other Southern Europe		509.9			420.6			21.2	%		22.2	%		698.9			590.9			18.3	%		20.2	%
		5,035.0			4,473.2			12.6	%		17.5	%		6,951.7			6,217.2			11.8	%		17.9	%

Northern Europe		3,851.4			3,473.4			10.9	%		11.8	%		5,344.1			4,780.8			11.8	%		13.9	%
APME		1,558.9			1,259.3			23.8	%		13.7	%		2,147.2			1,728.0			24.3	%		14.5	%
Right Management		287.6			429.8			-33.1	%		-34.2	%		374.6			559.4			-33.0	%		-33.8	%
	$	13,656.9		$	11,626.1			17.5	%		18.0	%	$	18,866.5		$	16,038.7			17.6	%		19.2	%

Operating Unit Profit (Loss):
Americas:
United States	$	28.7		$	(33.7	)		N/A			N/A		$	42.8		$	(41.4	)		N/A			N/A
Other Americas		26.5			14.2			87.1	%		76.8	%		36.5			20.1			81.4	%		72.9	%
		55.2			(19.5	)		N/A			N/A			79.3			(21.3	)		N/A			N/A

Southern Europe:
France		35.1			15.8			122.7	%		148.0	%		47.1			20.8			126.4	%		150.1	%
Italy		31.7			16.8			87.9	%		99.5	%		47.5			27.9			70.2	%		82.1	%
Other Southern Europe		4.4			(5.4	)		N/A			N/A			7.2			(6.1	)		N/A			N/A
		71.2			27.2			161.3	%		182.6	%		101.8			42.6			138.8	%		157.3	%

Northern Europe		87.2			13.6			543.8	%		562.7	%		150.2			40.8			267.9	%		281.6	%
APME		37.6			19.6			93.4	%		76.6	%		47.2			26.5			78.4	%		63.6	%
Right Management		20.3			92.6			-78.0	%		-78.9	%		3.5			113.4			-96.9	%		-98.0	%
		271.5			133.5									382.0			202.0
Corporate expenses		(70.4	)		(56.6	)								(101.2	)		(77.4	)
Goodwill and intangible asset impairment charges		-			(61.0	)								(428.8	)		(61.0	)
Intangible asset amortization expense		(28.1	)		(17.0	)								(39.3	)		(21.9	)
Reclassification of French business tax		47.6			-									65.3			-
Operating profit		220.6			(1.1	)		N/A			N/A			(122.0	)		41.7			N/A			N/A
Interest and other expenses		(33.2	)		(52.0	)								(43.2	)		(64.6	)
Earnings (loss) before income taxes	$	187.4		$	(53.1	)							$	(165.2	)	$	(22.9	)