Monster and CareerBuilder file for bankruptcy amid fierce job market competition

In a significant development in the job market industry, Monster and CareerBuilder, two once-prominent websites for job seekers, declared Chapter 11 bankruptcy on June 25, 2025. This announcement followed their merger last year into a single entity named Monster + CareerBuilder, with private equity firm Apollo Global Management holding a minority stake in the collaborative venture. The filed bankruptcy was attributed to ongoing challenges from a volatile macroeconomic environment and an increase in competition from platforms such as Indeed, Glassdoor, and LinkedIn, which have become preferred options among job hunters. As part of the bankruptcy proceedings, the company has initiated a court-supervised sales process, aiming to transact various parts of its business in order to maximize their value. According to Jeff Furman, CEO of CareerBuilder + Monster, the decision was a strategic move to maintain business viability and jobs during uncertain financial times. Among the key elements being sold is their job board segment, which is being acquired by JobGet, a platform catering to gig and hourly workers searching for job opportunities. Additionally, Monster Government Services, known for providing software solutions to multiple state and federal government entities, is in the process of being sold to Valsoft Corporation from Canada. The media division—comprising popular sites like Military.com and FastWeb.com—is also set to be sold to the Canadian media company Valnet. These transactions are still pending court approval and will be subject to potentially competitive bids. In order to facilitate the ongoing operations through the bankruptcy process, the company has secured $20 million in financing. This capital is crucial as it allows the firm to navigate the sales smoothly while making necessary cost-cutting decisions, which include layoffs, to ensure a seamless transition of its business operations. Thus, Monster and CareerBuilder underscore the rapid decline of established job platforms in the relegated landscape of online job seeking, signaling an era of adaptation for companies amid evolving market conditions and consumer preferences.