Today, Monster announced it will buy Yahoo’s HotJobs portal for $225 million in cash. With so many Americans looking for work, Monster believes closing the deal will put them in close

competition to CareerBuilder.com

Monster already provides about one-third of online job postings in the U.S.A. One thing is not sure is if Monster will now cut jobs in order to save additional money from the deal. The deal

should be finalized around the end of the third quarter. Monster’s most recent quarterly results matched expectations at a net loss of about $2.1 million. But still just ahead Wall Street expectations.

Written by Nick Zieminski; Edited by Bill Sorensen

Source: Reuters