Monster.com to Layoff Portion of its Workforce (Reuters)

Discussion in 'The Lounge' started by Drew Wilson, Jan 27, 2012.

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  1. Drew Wilson

    Drew Wilson AKA IceCube Staff Member Moderator Contributor

    Online recruitment firm Monster Worldwide Inc forecast a weak start to the year and said it will cut jobs, as it does not expect the global job market to improve drastically in the near term.

    Shares of the company, which will reduce its global workforce by about 7 percent or 400 jobs, fell 15 percent on Thursday on the New York Stock Exchange.

    "The progress we saw in the fourth quarter was much slower than what we saw earlier in the year," Monster CEO Sal Iannuzzi told Reuters in an interview. "But the situation is not similar to 2008."

    The uncertainty in Europe and the United States is making companies hold back and not commit as much as they normally would, he said.

    Iannuzzi said the company, whose revenue mix is split evenly between the United States and the rest of the world, also saw some sluggishness in India and Korea. That will continue in to the first quarter, he said.

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    The ironic news story of the day.
  2. evilmegaman

    evilmegaman ZP Superhero Established Member

    Monster.com's website itself is a clusterfuck. They need to start from the ground up
  3. YWD67

    YWD67 YOUR WATCH DOG 67 Established Member

    Christ I thought Monster bit the dust a few over a year ago. I remember about 4-5 years ago down here in Fl. they had a shit load of billboards on I-75 between Orlando and Tampa.

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