Wednesday, January 25, 2012

Monster lays off 400 worldwide

By Rodney Brown

Monster Worldwide Inc. has laid off approximately 7 percent of its worldwide workforce, which translates to less than 100 positions in Massachusetts.

According to company spokesperson, Monster laid off approximately 400 people Wednesday. The move is an attempt to improve the revenue-generating aspect of its workforce, and the company said it will be hiring some of that number back mainly in sales and marketing roles.

An official statement from the company reads:

As we have indicated in previous public statements, we are taking some steps to rebalance our investments and reduce fixed operating costs. As such, we are eliminating roughly 400 positions globally, or 7% of the workforce. Since 2007, Monster has made tremendous progress in developing and launching new technologies. Moving forward, we will focus on rolling out these innovations globally and growing revenue through an increase in sales and marketing activity consistent with our historical norms. To that end, we plan to add revenue-generating positions opportunistically throughout 2012. We appreciate the effort and contribution of our nearly 6,000 employees in helping us achieve our continued growth.

Last March, Monster partnered with DailyFeats, an online community centered around rewarding personal accomplishments. DailyFeats, which has offices in both New York and Cambridge, says that its members gather points from accomplishing “simple but meaningful feats that benefit the body, mind, home and community.” 

In August 2010, Monster completed its $225 million acquisition of Yahoo! HotJobs. The buyout deal included a three-year commercial traffic agreement in which Monster exclusively provides job content on the Yahoo! homepage in the U.S. and Canada.