paidContent - Monster Worldwide Laying Off 160; Hiring 80 More

This story was written by Joseph Tartakoff.
Online jobs services company Monster Worldwide (NSDQ: MNST) is cutting 160 positions and adding another 80, saying that it needs employees with “different skills and expertise” as it develops new products. Like other online recruiting companies, Monster has been hard hit by the recession—its revenue dropped 31 percent during the first quarter.  The new positions will be added at a technology center the company is launching in Cambridge, Mass. It’s unclear if any of these changes impact the company’s relationships with its newspaper partners. Monster Worldwide had 6,950 employees as of February, so, in total, its workforce is being reduced by just over one percent. Release.

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By Joseph Tartakoff