Breaking news from the big job board world (via press release):
Today, we are excited to announce that Monster has entered into an agreement to acquire HotJobs that will provide you with unprecedented access to job seekers and make Monster the leading site for job seekers in the U.S.
Upon the close of the acquisition, Monster will also enter into a multi-year strategic agreement with Yahoo!, becoming the jobs and recruitment engine on Yahoo!’s homepage for both the U.S. and Canada.
I’m not overly surprised by this news as I believe HotJobs has been fading fast over the past year or two. I still believe the consolidation of major job boards is less significant than the migration to highly-targeted job boards. Specialization is the future of job boards as they compete with networking sites for the primary channel to source candidates…in my opinion.