Monster.com (MWW) expects to gain thousands of new business customers through its purchase of HotJobs from Yahoo, (YHOO), according to Matt Henson of Monster.com's public relations department. If it's approved, the $225 million cash deal, which was announced Wednesday, is expected to close in the third quarter of 2010. But the HotJobs purchase is only half the story at Monster.com this week.Henson said Monster.com has been using its time during the ongoing employment downturn to develop its new Semantic 6Sense Search Technology, which it unveiled Monday. According to the company, the new software delivers "precision matches for seekers and employers." As Henson explained, this new technology will accelerate businesses' searches by pointing them more accurately toward the candidates that best match their needs. "They won't have to go through hundreds of resumes just to pull up the most relevant candidates," Hanson said.
Job seekers, too, will find they can more easily target the positions they want using the new Seeker Job Search technology, but it will be even more important for them to write resumes that make proper use of keywords. As I wrote in my book, Surviving a Layoff: A Week-By-Week Guide to Getting Your Life Back Together, it's becoming more and more critical for job seekers to design a resume for each job based on the keywords used in the posted job description. For jobs posted on Monster.com after the new 6Sense software is fully deployed, it's likely these keywords will play a big part in determining whether a candidate makes it onto the short list of potential hires. When I asked Hanson about this, he agreed.
Looking ahead, Monster.com expects to expand its employer customer base in the health, finance, insurance and retail arenas. Henson said he is hearing "great excitement about the product from their customers."
Monster gets traffic from 17 million unique visitors each month, while Yahoo's traffic is much smaller -- just 12.6 million visitors, according to Henson. So while Monster.com is looking for some growth in traffic thanks to this acquisition, it expects the primary benefit to derive from the new business customers who will pay for listings.
Henson could not comment on whether or not employees will be laid off after the acquisition. But given that there is so much traffic overlap between the two sites, once the acquisition is complete, layoffs must be considered likely. Even people whose job is to help people find jobs could soon be losing theirs in this economy.
Basics Of The Stock Market
Stock Market 101 - everything you need to know but were afraid to ask!View Course »