I don't know where you guys are getting anything positive. The problem at Monster was more than just Sal. In 2006, Monster was one of the top 20 most visited sites on the world wide web. Think about it. The sales people would pick up the phone and say "hello, how many postings do you want to buy". Well, those order takers became managers. Now that they have sooo much competition, they don't know what to do. The leadership does not know how to sell. Now here's the kicker. They decided they wanted to be a "technology" company. Kind of like how IBM went from building computers to being a "technology" company. The only problem, the technology they are selling is cheaper than the job postings they used to sell. So essentially they are replacing their main product with one that will give them lower revenues. If you really want to see what the employees are doing, go to Linkedin and search for PAST Monster reps in your area. People that have had accounts for 10 years or more are leaving faster than they can hire. Last year they were going to hire 100 sales reps. Mainly because there were so many leaving. Sorry guys, this ship is going to sink. Go to Glassdoor and look at the detailed reviews, they are bad. Also, they are known to FIRE. They have a database of 70 million resumes and and "At Will" employment contract. You think they care if they threaten the staff. Think about it.
He's right. Matt O is a joke. We all know in 2006 Monster was one of the top 20 MOST visited sites on the web. Back then all you had to do was pick up the phone to see how many job posting someone needed. So, without any real sales experience, he was promoted to management. Now that there is some actual competition, the company is failing. GLNC lost half their people...under Matt O. They don't know how to sell because they have been order takers all their careers. That is why so many leave and come back, because in the real world you actually have to cold call and sell. None of the managers know how to sell, put together a business plan. But, Oh Wait, Corporate Visions will save them...it's over, Matt O is over.
Anyone else on the Acq team get one as well? Oh, and any job prospects are welcome. Now that I see my COBRA costs, I am a supporter of Obamacare. I guess that is an advantage of being an "at will" employer with a database of 70 million resumes...you can reorg as much as you want and it doesn't really cost much at all. Good luck to all those employees that remain.
Good Luck to you as well. This is pretty rough. At least I do not have kids. Worried about the families that this is going to hit. Never thought I would see the day. A hiring freeze, yes, a full scale layoff? Blindsided.
Not going to. This is temporary. Go onto LInkedin and look at the number of employees that worked for Monster in the PAST. They have team meetings today at noon. However, I don't care about bookings. The Acquisition team is still weak as the earnings pointed out. Also, you have people that have been there for years that have strong relationships going to other companies. 1.2 million of the 4.7 million job openings advertised on Twitter?...you didn't see that 4 years ago. CB has overtaken Monster. Now 300 being let go. They are shrinking. They still have those convertible notes out there that will dilute the shares at 5 bucks. This still has a ways to go before it hits the six month high as well as a 12 month high. There are those that have shares that are waiting to sell on the rebound. Check out the Form 4's. Oh, and the people that did not get laid off...they are looking as well. No use in waiting for round 2.
The company keeps shrinking. That's why it will continue to decline. They laid off 400 employees in 2012. Here's the article if you forgot.http://www.bizjournals.com/boston/news/2012/01/25/monster-layoff-400-cut-at-job-board-co.html
The last time they went through this there was a mass exodus after the layoffs. The same will happen again. People with the relationships are leaving, and the clients are leaving as well.
First and foremost I was not invested in company stock in my 401k since it was at 8 Bucks. Do your research, 2010 Laid off 200 employees, 2012 laid off 400 employees, now 2015 laying off 300 employees. You're just bragging about a small pop. In December you were preaching the same thing as it was going DOWN. Yes if you say a stock will make a move up enough times you will be right at some point. It's not even at a 6 month high yet so there really isn't much you have accomplished here. And on a final note, you're making a fool out of yourself with these posts. Kind of like the famous quote from Vince Lombardi when a play would look stupid doing a touchdown dance "When you get into the end zone, act like you've been there before". So my advice to you, if you've made a couple bucks on a stock, act like you have actually done that before. As I said if you say stock is going up in the short run, at some point it will.
It's going to be down. Too many employees have left recently. I'm talking about the ones with long term relationships. Also, they have decreased the number of employees by 30% in the last couple years. I know they always claim 7% as the magic number, but look at the articles of the last layoff. In 2012 they laid of 400. All the articles read that they were a company of 5,700 (or as Monster stated nearly 6,000). Now the articles read they are laying off 300 out of their 4,280 employees. So basically even though they only announced a layoff of 700, they are really down 1,700 employees from two years ago. If the average salary was 50k, that saves them 85 million per year. but the revs will decline with that as well. You lose a work force of 1700, that will have a big impact on the revs. For some reason, they hide that fact that they have been letting people go AND not replacing at a greater pace than they were reporting. BAD NEWS IS COMING!
They do things backwards at Monster. Similar to when they were buying back stock over $5 per share and then issue Sr Convertible Notes at $5 per share. You know, buy high and sell low.
Well, they are having the conference call before the market opens. Maybe they actually have some good news. I don't know how. GLNC did terrible.
Are you saying Ted G. left as well? I did not see an 8k. Where did you get the info? It's really bad if Sal, Lise and Ted leaves within 6 months of each other. Like beyond repair bad.