Layoffs At Monster Worldwide

Monster Worldwide laid off an undisclosed number of workers Tuesday, and closed its operations in Brazil and Mexico.

One report put the number at 800, while a Twitter post simply described it as “massive.”

A company representative confirmed there were layoffs, but offered few specifics. In an emailed statement, the representative said:

Consistent with previously announced plans during the company’s Q3 earnings call to concentrate resources on business in North American and key European and Asian markets, Monster has taken a number of corporate restructuring initiatives to strengthen our core markets and increase the company’s profitability.  This includes pursuing a sale of our China HR business, closing operations in Brazil and Mexico and restructuring our global workforce to reduce our operating expenses.  Monster remains committed to providing leading talent recruitment solutions to our customers in more than 40 countries.

Last month, Monster officials said during the company’s third-quarter financial call with investment analysts, that layoffs were likely in the future. CFO Jim Langrock said during the call that the layoffs would come in the development area, a consequence of both the completion of the company’s latest search and cloud technology projects, as well as the decision to cut costs.

A previous layoff last January involved about 400 workers.

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Monster has been struggling for several quarters, announcing earlier this year that it was reviewing “strategic alternatives,” Wall Street code for selling the company or parts of it. Last month, Monster said it would seek to sell its Asian job board ChinaHR, and would shutter or sell off other operations.

Its stock is currently at about $5.50 a share, down about 2.6% today.

John Zappe is the editor of TLNT.com and a contributing editor of ERE.net. John was a newspaper reporter and editor until his geek gene lead him to launch his first website in 1994. He developed and managed online newspaper employment sites and sold advertising services to recruiters and employers. Before joining ERE Media in 2006, John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group.

Besides writing for ERE, John consults with staffing firms and employment agencies, providing content and managing their social media programs. He also works with organizations and businesses to assist with audience development and marketing. In his spare time  he can be found hiking in the California mountains or competing in canine agility and obedience competitions.

You can contact him here.

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