The merger of the Monster and CareerBuilder brands is complete, according to a Sept. 16 announcement from the newly formed company, which will be referred to as CareerBuilder + Monster.
The combination was originally announced in July. The merger forms a joint venture between Randstad-owned Monster and Apollo-owned CareerBuilder, with Apollo holding the controlling interest in the new brand. Randstad will maintain a minority interest.
Both sites will continue to function separately, according to the announcement.
“I could not be more excited to bring these two celebrated brands together,” Jeff Furman, CEO of the combined company, said in a press release. “We are able to leverage the best-in-class solutions, capabilities and expertise from both companies to better serve both our candidates and employers and help them navigate the evolving talent marketplace.”
Some analysis suggests the merger may be an attempt by the brands to advance in a market where Indeed is the top job board site. AIM Group reporting indicates that the merged brand would likely take third place in the U.S. in terms of traffic, behind Indeed and ZipRecruiter.
Indeed, for its part, has seemingly struggled this year; it laid off 1,000 employees in May, citing a “global slowdown” in hiring overall.