By Kevin McCauley
Joele Frank, Wilkinson Brimmer Katcher represents Monster Worldwide as the online employment company announced yesterday the hiring of Bank of America’s Merrill Lynch unit and Stone Key Partners as financial advisors related to its “review of strategic alternatives.”
Monster CEO Sal Iannuzzi in January predicted first-quarter revenues would decline up to seven percent from last year’s $253M mark. Earnings are projected to be flat.
He unveiled a $400M cost-cutting program to deal with “continuing global economic uncertainties.” That program includes layoffs of 400 staffers, shutdown of offices and tighter expense controls. Monster stock trades at $8.31. Its 52-week range is $6.34, $18.47.
Andi Rose, managing director of JFWBK, handles Monster. |