CareerBuilder Says AI, Hiring Slowdown Crippled Monster Merger

The merger of job recruitment sites CareerBuilder and Monster failed, in part, because of a slowdown in corporate hiring and competition from hiring tools driven by artificial intelligence, the company said in a Thursday bankruptcy court filing.

The joint venture backed by Apollo Global Management Inc. filed for Chapter 11 bankruptcy in Delaware earlier this week, reporting $2.2 million in cash. CareerBuilder and Monster have lined up a $20 million loan from JMB Capital Partners Lending to fund itself as it pursues asset sales in the coming weeks.

The merger, which closed in September 2024, was meant to help both ...