CareerBuilder and Monster Begin Transition towards New Ownership Amid Bankruptcy Proceedings

In a significant development for the job market, CareerBuilder and Monster have embarked on a court-supervised sale process aimed at transitioning ownership of their businesses while emphasizing job preservation. This move comes as the Company prepares for a more robust restructuring amid a challenging economic climate that has impacted many in the talent acquisition and workforce solutions sectors.

On June 24, 2025, CareerBuilder and Monster publicly announced their decision to enter into agreements for asset purchases, effectively marking a strategic shift in their operational framework. They have entered into three pivotal agreements:

1. An asset purchase agreement with JobGet Inc. focused on the sale of their job board business, which serves as a vital talent marketplace connecting employers with prospective candidates.

2. An arrangement with Valnet Inc. for the sale of Monster Media Properties, which includes reputable sites such as military.com and fastweb.com.

3. A deal with Valsoft Corporation for the divestment of Monster Government Services, a provider of human capital management software for government entities.

These asset purchase agreements reflect the company's intention to not only maximize value but also provide a seamless transition amid the court-supervised sale process. The Company has initiated a Voluntary Chapter 11 process in the U.S. Bankruptcy Court for the District of Delaware to facilitate these transactions and ensure a smoother transition for all stakeholders involved.

CEO's Statement and Forward-Looking Plans

"For over 25 years, we have been proud global leaders in helping job seekers and companies connect and empower employment across the globe," said Jeff Furman, CEO of CareerBuilder and Monster. Furman highlighted the challenges posed by the current macroeconomic climate, noting the significant impact on the business and its operations.

Despite these hurdles, the Company remains committed to delivering cutting-edge solutions and unmatched service to clients during this restructuring period. Furman expressed gratitude towards the employees and acknowledged the tough decisions that come with workforce reductions. "As a company dealing directly with people and talent management, reducing our workforce is always a painful step, but it is necessary to facilitate a smooth transition and ensure the long-term sustainability of the organization."

In conjunction with the sales process, the Company has outlined a series of restructuring actions aimed at streamlining operations throughout its U.S. businesses. Additionally, a comprehensive evaluation of strategic alternatives for certain international enterprises is underway to ensure global competitiveness and adaptability.

Understanding the Sale Process

The asset sale process will be conducted under Section 363 of the U.S. Bankruptcy Code, with Valnet Inc., Valsoft Corporation, and JobGet Inc. acting as the primary bidders. While these agreements are in place, the transactions remain subject to potentially better offers from other interested parties, which adds a layer of competitive bidding to the overall process.

To support its operational activities throughout this transition, CareerBuilder + Monster is finalizing a debtor-in-possession (DIP) financing agreement with Blue Torch Capital for up to $20 million to sustain business operations and effectuate the sales seamlessly.

The Company has also filed several motions to secure court authorization for ongoing operations, employee wage payments, and benefits during the bankruptcy proceedings. Notably, they plan to fulfill vendor payments according to standard terms for services and goods provided after the Chapter 11 filing date.

More information regarding court filings, operational updates, and details for stakeholders is available on the Company's designated website managed by its claims agent, Omni Agent Solutions. Stakeholders can find additional contact information, claim filing instructions, and resources to guide them through this process.

Conclusion

With a commitment to enhancing the job market and supporting both employers and job seekers, the strategic decisions made by CareerBuilder + Monster during this challenging time reflect their dedication to navigating the complexities of the workforce landscape. As the court-supervised sale process progresses, all eyes will be on the outcomes that promise to reshape the future of the Company and its services in the rapidly evolving marketplace.

Topics Business Technology)

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