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Human Capital News Update
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HSZ Media's Human Capital News Update delivers market intelligence to human capital business leaders seeking a competitive edge in the global war for talent. Our real time daily briefings and weekly Q&A's track human capital news for subscribers seeking global talent management knowledge.
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Today's Headlines
Wednesday, February 22, 2012
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MONSTER POSTS REVENUE DECLINES AMID WORKFORCE REDUCTION
Monster Worldwide, Inc./(NYSE:MWW) has posted revenues of $250 million for the fourth quarter, a two percent drop compared with $255 million in the comparable quarter last year. The company posted non-GAAP net income of $13 million, or $0.11 per share, compared to $7.1 million, or $0.06 per share in the fourth quarter 2010. Careers-North America revenue was $119 million, a decrease of five percent compared to non-GAAP Careers-North America revenue of $124 million the prior year. Careers-International revenue grew eight percent to $110 million compared with $102 million a year ago. Monster also announced a series of cost savings initiatives amid continuing global economic uncertainties that include a global workforce reduction of approximately 400 associates, or seven percent of its full-time staff, consolidation of certain office facilities, and continuing discretionary-spending and office and general expense controls. Sal Iannuzzi, chairman, president and CEO of Monster Worldwide, said: “Our focus in 2012 will be to further leverage our product leadership and global platform, and increase customer adoption. At the same time, we are taking difficult but necessary steps to implement cost savings initiatives that will provide us the flexibility to enhance our marketing and sales efforts to continue to improve long-term growth prospects and profitability.”
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PRESTON | REFFETT TO LEAD SEARCH FOR U.S. DEPT OF TRANSPORTATION
Executive search firm Preston | Reffett, LLC has been selected by the U.S. Department of Transportation to lead the search for the superintendent, United States Merchant Marine Academy at Kings Point, New York. Ron Flom, managing director of the firm’s public sector and acquisition practice in Arlington, VA, will lead the search. One of the five U.S. service academies (the others being West Point, Annapolis, Air Force, and Coast Guard), its primary mission is to ensure that shipboard officers are available for the U.S. Merchant Marine and to serve as leaders in the transportation field. Preston | Reffett is an executive search firm with offices in the areas of Seattle, Philadelphia, New York City, Buffalo, Greensboro, Washington, Nashville, Morristown, and Orlando.
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VACO GROWS FINANCIAL TEAM
VACO Los Angeles LLC (VACO), a consulting and executive search firm specializing in accounting and finance, has named Ronda Ponciano and Roopa Kapadia as recruiting mangers to its financial team. They will be focused on securing direct hire positions for accounting and finance professionals. Ms. Ponciano joins Vaco with 17 years experience in accounting and finance, with six of those serving directly as a controller or assistant controller. Ms. Kapadia has served in accounting and financial management positions for a variety of companies, including Ernst & Young.
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RISESMART ADDS HR VETERAN TO ADVISORY COUNCIL
Dan Phelan, senior advisor to the CEO at GlaxoSmithKline, has joined the strategic advisory council of RiseSmart, a provider of next-generation outplacement solutions. During his more than 30 years with GlaxoSmithKline, Mr. Phelan has held key leadership roles in several areas of the company, where he was senior vice president of human resources for 14 years. "The continued additions of experienced HR thought leaders to our strategic advisory council supports the ever-growing notion that offboarding has to have a solid technology component in order to remain competitive in the economy today," said Sanjay Sathe, founder and CEO of RiseSmart. "Dan's decision to join our council stems from the pervasive idea that RiseSmart's business model is the future of outplacement and these HR influencers want to be a part of making that change a reality."
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