Monster Posts 11 Percent Revenue Drop; Announces Restructuring

November 8, 2012 – Monster Worldwide, Inc./(NYSE:MWW) has posted revenues of $221.7 million for the third quarter ended September 30, 2012, an 11 percent drop compared with $248.6 million in the comparable quarter of 2011. For the third quarter, Monster said its loss amounted to $1.75 per share, compared with a year-ago profit of $31.8 million, or 26 cents per share. The company also announced that it will implement a corporate restructuring to focus on its core business and reduce its cost structure in order to improve profitability and cash flow. This includes selling its Chinese unit. Sal Iannuzzi, chairman, president and CEO of Monster Worldwide, said: “During the third quarter, our bookings in North America, excluding the Government vertical, were up slightly, while bookings in Europe and Asia were negatively impacted by the challenging economic environment. We are implementing a plan to concentrate our resources on our largest markets where we generate the lion’s share of our revenue and profit and where we are experiencing increased customer traction with our advanced technologies.”

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