Monster.com to lay off 100
11 Feb 2019
Continuing a long decline, once-dominant recruitment vertical Monster.com will lay off about 100 staff — about 5 percent of its global workforce, according to Joel Cheesman of ERE.net.
The layoffs affect customer support and sales positions, all the way up to Greg Avallone, VP of enterprise sales, Cheesman wrote. Citing inside sources, he said about 30 people lost their jobs at Monster’s Indianapolis office.
“The impacted positions are across all functions and geographies with a focus on the globalization of our products and marketing initiatives, transforming how we sell to and service our customers, and redirecting resources to next generation technology and data solutions,” CEO Scott Gutz said.
A Monster spokesperson said: “To accelerate our progress towards sustainable, profitable growth across Monster, we have made the difficult decision to eliminate certain positions in our workforce across our global organization.”
TheMonsterBoard.com, its original name, went live in 1994 as the second public job search website on the Internet, after OCC.com (Online Career Center). It gained wide public recognition airing TV ads during every Super Bowl from 1999 to 2004. Monster was long the No. 1 recruitment site in the U.S. until it was surpassed by CareerBuilder, which in turn was overtaken by Indeed.com.
At one point, Monster Worldwide, parent of Monster.com and its international businesses, had a market capitalization of about $8 billion. But in 2011, the stock was rated the “worst performing stock of the year” by CNN Money. Monster CEO Sal Iannuzzi left in the fall of 2014 after a tenure that saw its stock value decline by more than 90 percent. In August 2016, Monster Worldwide was acquired by Randstad Holding NV of the Netherlands, a global staffing company, for $429 million.