NATIONAL NEWS – CareerBuilder and Monster file for bankruptcy

Ananya Roy, News Writer

CareerBuilder and Monster, two of the most prominent job sites of the early internet era, have filed for Chapter 11 bankruptcy after merging last year. Once dominant in online recruiting during the late 1990s and early 2000s, the companies now list estimated liabilities between $100 million and $500 million, with assets ranging from $50 million to $100 million. Their fall comes as modern job seekers increasingly turn to platforms like LinkedIn, Indeed, and Glassdoor.

As part of the bankruptcy process, the companies plan to sell off core assets. Their job board operations are set to be acquired by JobGet, a platform focused on hourly and gig work. Monster’s government services division will go to Canadian software firm Valsoft, and their media arm, including Military.com and FastWeb.com, will be sold to Canadian media group Valnet. CEO Jeff Furman said the court-supervised sale process is “the best path toward maximizing the value of our businesses and preserving jobs.” All proposed sales are subject to court approval.