Why is Monster Worldwide Inc. cutting 160 jobs worldwide?
Monster Worldwide Inc. said late Wednesday that it’s cutting 160 jobs worldwide and opening a technology center in Massachusetts as the company adjusts its operational structure. The job cuts will be in Monster’s product and technology group, mainly in the U.S. Monster, a job listing and search company, said the tech center in Cambridge, Mass., will conduct research into new products. It will be the company’s sixth tech center, following sites in Maynard, Mass.; Mountain View, Calif.; Prague; Kuala Lumpur, Malaysia; and New Delhi, India. Monster said it has started hiring for 80 positions at the Cambridge center, with potential for up to 170 jobs. One product that came out of research and development is the power resume search, where employers can look for job applicants using more natural language instead of key words. Sources: http://www.forbes.com/feeds/ap/2009/07/09/ap6634710.
