US EditionOnline Job Hunting Firm CareerBuilder + Monster Files Bankruptcy
- CareerBuilder + Monster, a Chicago-based company created by a merger last September, initiated a Chapter 11 bankruptcy case on Tuesday in Delaware.
- The filing followed nearly a 40% revenue drop last year amid stiff competition from platforms like LinkedIn and Indeed and a challenging macroeconomic environment.
- The company plans a court-supervised sale of its operations, including selling its job board to JobGet, software services to Valsoft, and media properties to Valnet.
- CEO Jeff Furman stated they are making "difficult but necessary" workforce reductions and securing $20 million financing to maintain operations during restructuring.
- The bankruptcy process aims to maximize business value and preserve jobs amid restructuring efforts supported by advisory firms AlixPartners and Latham & Watkins.
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Online job listing company Careerbuilder + Monster files for bankruptcy
Online job listing company CareerBuilder + Monster filed for Chapter 11 bankruptcy protection on Tuesday.The Chicago-based company, formed by the September merger of CareerBuilding and Monster, said it agreed to sell its job board operations, its most recognizable business, to JobGet, which has an app for so-called gig workers.Monster, the older of the two, "has worked to transform the recruiting industry" for 30 years, its website said. Career…
·United States
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Online job site pioneer CareerBuilder + Monster files for bankruptcy
Created through the September merger of CareerBuilder and Monster, the Chicago-based company said it agreed to sell its job board operations, its most recognizable business, to JobGet, which has an app for so-called gig workers.
·New York, United States
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