CareerBuilder + Monster Files for Bankruptcy, Plans to Sell Business Units

CareerBuilder + Monster filed for bankruptcy and plans to sell various business lines. JobGet will acquire the job board business, Valnet will buy Monster media properties, and Valsoft will purchase Monster Government Services. The sales aim to restructure the company's operations and move forward.

CareerBuilder + Monster, a joint venture formed by the merger of CareerBuilder and Monster in September 2024, has filed for Chapter 11 bankruptcy protection. The company announced on Tuesday that it has initiated a voluntary Chapter 11 process in the U.S. Bankruptcy Court for the District of Delaware, aiming to reorganize its finances and develop a plan to repay its creditors [1].

Jeff Furman, CEO of CareerBuilder + Monster, stated that the move was "the best path" forward, citing a challenging and uncertain macroeconomic environment. The company's business has been affected by declining sales and stiff competition from other job platforms such as LinkedIn and Indeed [1].

CareerBuilder + Monster plans to sell various business lines to maximize value and preserve jobs. JobGet will acquire the job board business, Valnet will buy Monster media properties, and Valsoft will purchase Monster Government Services. The transactions are subject to court approval and are expected to close in the coming weeks [1].

The company has faced significant competition from LinkedIn and Indeed, which have experienced notable growth in the past decade. LinkedIn, for instance, generated an estimated $16.37 billion in revenue in 2024, up from around $7 billion in 2019, while Indeed claims to be the top job site in the world based on total visits [1].

CareerBuilder + Monster is also undertaking restructuring efforts across its U.S. businesses, including reducing its workforce to bring down costs. The exact number of employees affected by the job cuts is unclear [1].

The bankruptcy filing marks a significant turn of events for the company, which was once a pioneer in the online job hunting market. The company has been struggling with declining sales and a challenging economic environment, leading to the decision to seek bankruptcy protection and sell its business lines [1].

References:
[1] https://www.entrepreneur.com/business-news/careerbuilder-monster-files-for-chapter-11-bankruptcy/493727
[2] https://www.reuters.com/legal/litigation/careerbuilder-monster-which-once-dominated-online-job-boards-file-bankruptcy-2025-06-24/