Online Recruitment Firm Monster to Cut 400 Jobs

(REUTERS) -- Online recruitment firm Monster Worldwide Inc said it will reduce its global workforce by about 7 percent and forecast a first-quarter profit below analysts' estimates amid a weak job market in the United States.

The company, which also reported fourth-quarter profit that missed expectations by a cent, said it will cut about 400 jobs and consolidate some office facilities.

It expects to record a pre-tax charge of $30 million to $40 million mostly in the first quarter.

Monster forecast first-quarter profit to be breakeven to 4 cents a share, lower than analysts' estimates of 9 cents a share, according to Thomson Reuters I/B/E/S.

The company, which runs the Monster.com recruiting website, expects revenue to fall 3 to 7 percent in the first quarter and bookings to drop 6 to 10 percent.

(Reporting by A. Ananthalakshmi in Bangalore; Editing by Maju Samuel)