Another major job recruiter firm files Chapter 11 bankruptcy

Online job boards began to proliferate just before the internet boom in the late 90s, and exploded in the new millennium as several employment websites began to dominate the industry.

Monsterboard.com, which would become Monster.com, was the grandaddy of employment websites when it launched in 1994, followed by Craigslist in 1995.

💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter💰💵

Initially a San Francisco Bay Area service, Craigslist was incorporated in 1999 and expanded its service to more communities and regions in the new millennium.

CareerBuilder also launched in 1995 as a start-up created by newspaper chains Tribune Co. and Knight Ridder, known as NetStart at the time. It changed its name to CareerBuilder in 1998.

Monster.com and CareerBuilder merged in September 2024 to become Careerbuilder + Monster.

LinkedIn launched in 2002 and became the premier career development and professional networking social media website with over 1.1 billion members in more than 200 countries worldwide, according to its website.

Employment website Indeed was founded in 2004 and has grown significantly alongside other websites, with over 610 million job seeker profiles and 3.3 million employer users, according to its website.

Another job website, Glassdoor, launched in 2007, and counts 63 million unique monthly visitors to its website, about 2.5 million employer profiles, and features about 212 million company reviews, salaries, and insights.

CareerBuilder + Monster filed for bankruptcy

CareerBuilder + Monster, owned by private equity firm Apollo Global Management and Dutch staffing company Randstad, filed for Chapter 11 bankruptcy protection on June 24, 2025, seeking to sell its assets.

The debtor reached stalking-horse agreements with three potential buyers, as it entered into an asset purchase agreement with JobGet Inc. for the sale of the company's job board business, which provides a marketplace connecting employers to job candidates.

It also entered into an asset purchase agreement with Valnet Inc. for the sale of Monster Media Properties, which includes websites Military.com and Fastweb.com.

CareerBuilder + Monster entered into a third asset purchase agreement with Valsoft Corporation for the sale of Monster Government Services, which provides human capital management software services to state and federal governments.

More bankruptcy:

“For over 25 years, we have been a proud global leader in helping job seekers and companies connect and empower employment across the globe,” Jeff Furman, CEO of CareerBuilder + Monster, said in a statement. “However, like many others in the industry, our business has been affected by a challenging and uncertain macroeconomic environment.

“In light of these conditions, we ran a robust sale process and carefully evaluated all available options. We determined that initiating this court-supervised sale process is the best path toward maximizing the value of our businesses and preserving jobs,” Furman said.

And now, another employment services company has filed for bankruptcy to reorganize its business.

USA Staffing Services filed for bankruptcy to restucture debts.

Shutterstock

USA Staffing Services files for bankruptcy protection

Nationwide employment services company USA Staffing Services LLC filed for Chapter 11 protection, seeking to restructure its debts.

The Tampa, Fla.-based debtor filed its petition in the U.S. Bankruptcy Court for the Middle District of Florida on June 27, listing $1 million to $10 million in assets and liabilities.

USA Staffing Services' most significant creditors include Alliance HR, owed a disputed claim of $1.8 million, and the Internal Revenue Service, owed $750,000 in payroll tax obligations. Other creditors include merchant cash advance providers Mulligan Funding and PIRS Capital.

The debtor provides staffing and recruiting services for employers, a job board for potential employees, payroll and compliance solutions, employee onboarding and assignment management, and workers' comp and insurance, through local partners nationwide.