Internet jobsite newmonday.com goes out of business
Randstad, the Dutch recruitment company which owns 50% of newmonday, said, "Due to considerably changed conditions in the recruitment market, the revenue of newmonday.com has not met expectations."
It said that together with the Dutch publisher VNU, joint owner of newmonday, it had decided to wind up the company.
Newmonday was set up in September 2000 and deals with a range of positions, including financial services. It has about 140 employees.
A number of other internet job sites have been suffering because of the downturn in recruiting.
One of the biggest, monster.com, reported a large rise in commissions and fees in the quarter ended June 30 this year, together with profits of $36m. But this month monster.com laid off 125 employees, or 10% of its staff, citing the effects on recruitment of the September 11th attacks on New York.
