 |
Joele Frank handles CareerBuilder + Monster as it declares Chapter 11 and uses the reorganization to pave the way for the sale of its assets.
CB+M CEO Jeff Furman said the company, which helps job seekers connect with future employers, has been hurt by the challenging and uncertain macroeconomic environment.
In light of those conditions, CB&M ran a robust sales process and determined the court-supervised process “is the best path toward maximizing the value of our businesses and preserving jobs,” according to Furman.
CB+M is selling its job board business to JobGet Inc., its Monster Media Properties to Valunet Inc., and the Monster Government Services unit to Valsoft Inc. The company is mulling the future of its overseas units.
Furman noted the decision to downsize and reduce costs was a difficult one. “As a company in the business of people and talent management, reducing our workforce is always a painful step to take,” he said.
He thanked staffers for the commitment and passion they have shown to the company, clients and colleagues.
Joele Frank, Wilkinson Brimmer Katcher’s Aaron Palash, Carleigh Roesler and Jenna Shinderman represent CB+M.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
Uber’s Mike Lucarelli is moving to NXP Semiconductors as senior VP-investor relations.
