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Monster up for grabs

Veronica C. | March 23, 2012

The world of recruiting is an ever-changing marketplace – old technologies, practices and companies must often adapt to the shifting landscape or be swept away with the competition. Despite being one of the original job board powerhouses, Monster Worldwide Inc. has faced declining sales in North America and around the world. As a result, Chief Executive Sal Iannuzzi has stated that he will be selling – either partially or as a whole – Monster in the coming months, according to Bloomberg.

This news comes only a couple of weeks after Monster announced that it would be branching into new markets, such as search technology, in an effort to rebuild its business in the wake of competitors like LinkedIn and CareerBuilder. This decision helped boost the company's stock by approximately 17 percent in 2012, Reuters reports, as well as attracting potential buyers.

However, it remains to be seen exactly how much control of Monster Iannuzzi will be willing to relinquish. So far, the company has been exploring a wide range of investors and buyers, but nothing is concrete yet.

"It means selling the company, potentially," Iannuzzi told Reuters. "It means bringing in a partnership in a region of the world where we can share the expense… it could mean a strategic investment in terms of someone buying a sizeable piece of Monster. It could be a foreign market or could be here in New York."


Category: Employers

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