Monster.com's Parent Cuts 250 Jobs

Posted Wednesday, August 7, 2002 12:00 am

By: David Gianatasio (Adweek.com) TMP Worldwide, the global recruitment company and parent of Monster.com, said on Wednesday that its president and chief operating officer, James Treacy, will resign and that 250 employees will be cut following a second-quarter loss of $504 million.

The New York-based company earlier this year had cut 750 staffers. After the new round of layoffs, TMP will continue to employ more than 8,000 people worldwide. Treacy will stay with TMP until a successor is named.

Maynard, Mass.-based Internet job service Monster.com has spent upward of $75 million annually on ads with Arnold, Boston. An agency representative said the shop has not been informed of any budget reductions stemming from TMP's current woes, and plans to launch new work in its "Never settle" campaign this fall. The client did not immediately return calls.

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Monster.com's Parent Cuts 250 Jobs

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