According to a Randstad company statement, the combination of Monster and CareerBuilder brings together “two strong, trusted and complementary brands to create a job board with greater scale and reach”. 

The joint venture will allow both businesses to benefit from shared resources and solutions to deliver greater value and opportunities to both jobseekers and employers. Together, the statement continues, “both companies can more effectively respond to prevailing trends in the market to deliver enhanced growth”.

Under the terms of the agreement, existing CareerBuilder investors, including Apollo Funds, will collectively hold a controlling interest in the joint venture, and Randstad will hold a minority equity interest. The transaction has no material financial impact for Randstad. The management team of the combined entity will comprise senior leaders from both companies. Additional decisions regarding the combined company, including branding, will be determined in due course.

The agreement is subject to customary regulatory approvals, and the transaction is expected to be completed in Q3 2024.

Scott Gutz, CEO of Monster, said: “Through the combination of Monster and CareerBuilder we bring together two trusted brands and best-in-class solutions to create a stronger job board for our talent and employers.”

Jeff Furman, CEO of CareerBuilder, said: “By uniting our innovative teams and leveraging our complementary capabilities, we are poised to help shape the future of the industry. Together we are stronger and better equipped to meet the evolving needs of the marketplace.”

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