Monster Worldwide, the online recruitment site, reported a quarterly loss Thursday along with plants to exit its businesses in Brazil, Mexico and Turkey, while it continues to try to sell the company.
The company said it has completed the sale of ChinaHR and exited operations in Brazil, Mexico and Turkey, classifying these businesses as discontinued operations in the latest quarter.
Monster has been affect by weaker job markets in the United States and Europe, which generated the bulk of its revenue, as well as growing competition from social networking sites.
Monster reported a net loss of $73 million, or 66 cents per share, in the fourth quarter, from $10.9 million, or 9 cents per share, a year earlier.
The company recorded pre-tax charges of $23 million during the quarter ended December, and said it expects additional charges in the range of $27 million to $37 million in the first half of 2013. Revenue dropped 10 percent to $211.2 million.
Demand has shifted away from Monster's generalized recruitment website to more specific, niche-focused employment websites that allow workers and companies to connect directly.
© 2017 Jobs & Hire All rights reserved. Do not reproduce without permission.
