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. More... The ironic news story of the day.