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Monster No Longer Seeks Buyout

Friday, August 02, 2013 8:51 am - by Everest
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As one of the first major online job boards, Monster.com has long enjoyed the brand recognition that comes with being a household name. Not until the hiring freeze following the recent great recession did things turn from green to grim for the hiring giant. In fact, the uncertainty of the company’s future prospects prompted owners to seek a buyout in 2012, a search that continued until this morning when Monster’s Chairman and CEO Sal Iannuzzi announced that they were shifting their attention to their stock repurchase program.

Iannuzzi also announced a number of forthcoming “strategic initiatives”, though was extremely stingy with the details. All that is certain at this point is that the company has stabilized and is no longer looking to cash in, exceeding stock projections this month. While the future is still looking a bit dreary for Monster, and for the job market in general, the fact that this company has staid afloat through all of its troubles is encouraging.