Monster and CareerBuilder, once popular with job seekers, file for bankruptcy

TruthLens AI Suggested Headline:

"Monster and CareerBuilder File for Bankruptcy Amid Market Challenges"

Monster and CareerBuilder, once popular with job seekers, file for bankruptcy analysis cover image CNN 8.8
Image Source: https://media.cnn.com/api/v1/images/stellar/prod/2025-06-24t131503z-1180058201-rc209fabyjzm-rtrmadp-3-careerbuilder-monster-bankruptcy.JPG?c=16x9&q=w_800,c_fill
Original Article Source: https://edition.cnn.com/2025/06/25/business/monster-careerbuilder-bankruptcy
View Raw Article Source (External Link)
Raw Article Publish Date:
AI Analysis Average Score: 8.8
These scores (0-10 scale) are generated by Truthlens AI's analysis, assessing the article's objectivity, accuracy, and transparency. Higher scores indicate better alignment with journalistic standards. Hover over chart points for metric details.

TruthLens AI Summary

Monster and CareerBuilder, once leading names in the job search industry, have filed for Chapter 11 bankruptcy as they struggle to navigate a challenging economic landscape and intense competition. The two companies, which merged last year to form Monster + CareerBuilder, announced their voluntary bankruptcy filing on Tuesday. As part of the court-supervised process, they are selling various segments of their business to different buyers. This includes the job boards, which are being sold to JobGet, a platform targeting gig and hourly workers. Additionally, Monster Government Services, providing software solutions for government entities, is being acquired by Valsoft Corporation, a Canadian company. The media division, which includes Military.com and FastWeb.com, will be sold to another Canadian company, Valnet. These sales are contingent upon court approval and may be subject to higher bids from other interested parties.

Jeff Furman, the CEO of the merged entity, acknowledged the difficulties faced by the company, attributing their struggles to a “challenging and uncertain macroeconomic environment.” He emphasized that initiating the court-supervised sale process is aimed at maximizing the value of their businesses while also preserving jobs. The company is making tough decisions, including layoffs, to streamline operations and manage costs effectively. To support ongoing operations during the bankruptcy proceedings, Monster and CareerBuilder have secured $20 million in financing. Once titans of the job search market, these companies have seen a significant decline in their popularity due to the rise of competitors such as Indeed, Glassdoor, and LinkedIn, which have captured the attention of job seekers in recent years. Their decline serves as a reminder of the rapidly changing dynamics in the job search industry, where adaptability and innovation are essential for survival.

TruthLens AI Analysis

You need to be a member to generate the AI analysis for this article.

Log In to Generate Analysis

Not a member yet? Register for free.

Unanalyzed Article Content

Source URL: https://edition.cnn.com/2025/06/25/business/monster-careerbuilder-bankruptcy

Monster and CareerBuilder, once two of the most popular websites for job seekers at the height of thedot-com era, have filed for bankruptcy.

The two sites, which merged last year to become one entity named Monster + CareerBuilder, voluntary filed for Chapter 11 Tuesday, announcing that the company is selling various parts of its businesses to several buyers as part of a court-supervised process, a press release said.

Monster and CareerBuilder were some of the biggest companies in the late 1990s and early 2000s, with the former brand so popular that it often boughtSuper Bowlcommercials promoting its services. However, both have fallen out of favor for job hunters with the rise of competitors like Indeed, Glassdoor and Microsoft-owned LinkedIn in recent years.

Jeff Furman, CEO of CareerBuilder + Monster, said in statement that its “business has been affected by a challenging and uncertain macroeconomic environment” and determined that “initiating this court-supervised sale process is the best path toward maximizing the value of our businesses and preserving jobs.”

The most recognizable part of CareerBuilder and Monster — their job boards — is being sold to JobGet, a platform for gig and hourly workers searching for jobs. Monster Government Services, which provides software to state and federal governments, is being sold to Canadian-based Valsoft Corporation.

Also, its media division — the two companies own Military.com and FastWeb.com — is being sold to Canadian media company Valnet. All purchases require court approval, with the sales subject to higher offers.

Furman said the company is “making difficult but necessary decisions to reduce costs and help ensure a seamless transition of our businesses,” including layoffs. It has received $20 million in financing to keep operating during the bankruptcy process.

Monster and CareerBuilder, once rivals, merged last year with private equity firm Apollo Global Management taking a minority stake in the company.

Back to Home
Source: CNN