Soft Economy Catches Monster

October 5, 2001( - Workers at popular online job-seeking site, may soon be posting their resumes on their employers own Web site, according to a Reuters report.

Feeling the effects of a softer job market, the company will be laying off 10% of its workforce in a cost cutting move.

In contrast to many online businesses spawned during the height of the tech boom, has managed to keep its head above water.

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However, the company gets its revenue from employers that pay a fee to post their job openings on the site, and a weaker economy translates into fewer job openings and fewer fees, according to the report.

The layoffs also reflected improved efficiencies it has achieved through the acquisition of other online job seeking sites, Reuters reports.