Monster lays off 400
Monster Worldwide Inc., the online recruitment service with offices in Maynard and Cambridge, will reduce its global workforce by 7 percent, or about 400 positions.
The news came in a quarterly earnings release that reported a slump in revenues and a forecast for the next quarter’s profit that is below analyst expectations.
Less than one hundred of the positions to be eliminated are in Massachusetts, the company said.
Monster’s revenue for the fourth quarter of 2011 was $250 million, down from the same period a year earlier, when it was $255 million. (Excluding year-earlier revenue from a business Monster has since exited, revenue rose 2 percent.) Total revenue for 2011 was $1,040 million, up from $914 million the previous year.
In its earnings release, Monster also announced a “consolidation of certain facilities,” but the company said that does not include the two Massachusetts locations.
In a release, a Monster spokeswoman said the layoffs were “to rebalance our investments and reduce fixed operating costs.”
In the coming year, however, the company intends to increase its sales and marketing efforts, she added, and “to that end, we plan to add revenue-generating positions opportunistically throughout 2012,” and some of those positions would be in Massachusetts.
D.C. Denison can be reached at denison@globe.com.
