Monster Worldwide is laying off 400 workers – about 7 percent of its global staff. The layoffs mean less than 100 employees will lose their jobs at the Internet job board company’s Maynard, Mass. headquarters.






See correction at end of article.

Monster Worldwide Inc. 


(NYSE: MWW) has laid off approximately 7 percent of its worldwide workforce, including fewer than 100 in Massachusetts, where the company maintains its Maynard headquarters and a Cambridge facility.

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.

Correction

An earlier version of this article misstated Monster’s Massachusetts layoff plans. The firm plans to lay off fewer than 100 workers across its Massachusetts locations, including its Maynard headquarters and a Cambridge location.

<!–

rbrown@masshightech.com

–>

bizWatch

See all your followed company news on your personalized dashboard.

To access the full benefits of bizWatch and receive a weekly email with aggregated news on all the companies you are following, please provide your email address below.

You must have a bizjournals account to follow a company.
Please Log In or Register.


Article source: http://www.bizjournals.com/boston/news/2012/01/25/monster-layoff-400-cut-at-job-board-co.html

Other Posts

Filed under: Daily Layoffs News

Like this post? Subscribe to my RSS feed and get loads more!