Business Services Industry
Online Job Boards Face Tough Times Amid Hiring Slump in U.S.
Knight Ridder/Tribune Business News, August, 2002
By Kathy Bergen, Chicago Tribune Knight Ridder/Tribune Business News
Aug. 8--Online job services, one of the last hardy flowers to survive the collapse of the Internet boom, are starting to wilt a bit in the face of a nationwide hiring slump--and it may be a while until they really start to blossom again.
TMP Worldwide Inc., owner of leading job-search site Monster.com, this week reported a sharply worsened financial performance in the second quarter, disclosed it was slashing 1,000 jobs, reduced its earnings guidance for the full year and announced the exit of its president and chief operating officer--a cocktail of bad news that sent its stock price down by 30 percent Wednesday.
"They've finally owned up to how ugly the outlook...
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