Jobs Site Monster Cutting 400 ... Jobs

That's 7% of positions worldwide
By John Johnson,  Newser Staff
Posted Jan 26, 2012 10:56 AM CST
Jobs Site Monster Cutting 400 ... Jobs
In this 2008 file photo, job seekers wait in line along Broadway to enter a job fair sponsored by the website in New York.   (AP Photo/Kathy Willens)

It's a layoff announcement with a sad, ironic twist: Monster Worldwide, which runs the online recruitment site and makes job-search software, is itself slashing 400 jobs, reports Reuters. That amounts to 7% of full-time staff. "The progress we saw in the fourth quarter was much slower than what we saw earlier in the year," says CEO Sal Iannuzzi. The company gets half its revenue from within the US, where it's facing increased competition from CareerBuilder and the expanding LinkedIn, notes MarketWatch. (Read more layoffs stories.)

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