LAWFUEL – The Legal Newswire – The Monster jobs website is making monster job cuts to its own sales force in an attempt to save around $170 million a year in the wake of a stock option investigation that has seen legal costs and severance payments grow by 34 per cent in the second quarter.
Monster is the largest web-based job-hunting site and plans to shave 800 jobs from its workforce, savings coming mainly from the New York-based company’s North American human resources and finance operations.
Second-quarter net income dropped to $28.6 million, or 21 cents a share, from $39.6 million, or 30 cents, the company said in a statement. Revenue rose to $331.1 million from $275.2 million a year earlier.
