Monster.com announced today that it has entered into an agreement to acquire Yahoo! Hotjobs, making it the leading job board in the United States. Monster.com will also enter into a multi-year agreement with Yahoo! that will make it the jobs and recruitment engine on Yahoo!’s homepage for the US and Canada.
What does this mean to Metro Detroit job seekers?
Convenience – Job seekers will have the convenience of posting a resume and searching the job database of one job board rather than visiting two separate sites.
Greater exposure – Job seeker resumes will be available to a larger group of employers.
Access to more jobs – Job seekers will be able to view more jobs on Monster.com
When asked how he felt about the merger, Dan Williams, an unemployed Metro Detroiter who has been searching for an accounting job for 8 months said “I am excited about anything that will help me find a job!”
A local recruiting manager; however, was not as excited about the merger stating that she felt it would raise Monster.com's already expensive rates for employers even more. And noted that any time competition is eliminated in the marketplace, it is never a good thing for consumers.
Initially both companies will continue to operate as two separate businesses. Monster.com did not provide details about how this merger will affect job seeker accounts on Monster.com and /or Yahoo! HotJobs. Monster.com expects the transaction to close during the third quarter of 2010.