CareerBuilder constructs new careers by bringing employers and potential employees together through the Web. The company's CareerBuilder Network consists of its flagship site careerbuilder.com, as well as affiliated career sites including the Los Angeles Times and MSN Careers. Reaching more than 22 million monthly visitors, CareerBuilder.com allows job seekers access to the Mega Job Search to peruse more than 1 million job openings, and more than 300,000 employers tap into its database consisting of over 30 million resumes. The company also conducts surveys and polls through the Web paneling of its vast database. Newspaper publisher Gannett owns a controlling stake in CareerBuilder, which was founded in 1995.
The growing company in 2012 purchased Economic Modeling Specialists Intl. (EMSI), an economic software firm that specializes in employment data and labor market analysis. The purchase builds on its previous investments in a Workforce Analytics platform that tracks hiring and job search trends to help companies find the best talent.
Maintaining its foothold in the US, CareerBuilder has been focused on expanding its operations internationally. It grew its holdings in Asia in 2011 when it bought JobsCentral, a Singapore-based job board provider with 700,000 registered jobseekers. The deal entrenched its presence in Malaysia, a region with a sizeable Internet presence and perhaps more importantly, a low unemployment rate.
In 2011 it bought German-based JobScout24, a job board with more than 3 million users and 250,000 jobs. The acquisition complements its existing German site. The previous year acquired CareerSite.biz, Ltd., a provider of online and offline job advertising websites based in the UK. As part of the deal, CareerBuilder integrated StaffNurse.com, RailwayPeople.com, and VirtualFair.co.uk into its website network.
Another way CareerBuilder grows is by adding to its already extensive list of partners. It maintains partnerships with 1,600 different companies and powers more than 10,000 career websites. Some partners include about 140 newspapers, online portals such as MSN and AOL, and other specific industry sites.
Like other job recruiters CareerBuilder struggled during the recession as employers drastically cut back on the amount of job notices they posted. CareerBuilder was forced to lay off about 300 employees (15% of its workforce) in 2008. Most of the layoffs were in the company's small business segment.
Besides Gannett, which owns a 51% stake in CareerBuilder, the job site's shareholders include newspaper companies Tribune (31%) and McClatchy (14%), plus Microsoft (4%). The Microsoft investment, made in 2007, enabled CareerBuilder to extend its partnership with MSN Careers through 2013. Under the agreement, CareerBuilder will pay MSN more than $440 million over seven years in order to be featured as the website's primary job search engine.
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