10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-K

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE FISCAL YEAR ENDED DECEMBER 31, 2014

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM             TO            

COMMISSION FILE NUMBER 001-34209

MONSTER WORLDWIDE, INC.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

DELAWARE	13-3906555
(STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION)	(I.R.S. EMPLOYER IDENTIFICATION NUMBER)

133 Boston Post Road, Building 15, Weston, Massachusetts 02493

(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)

(978) 461-8000

(REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE)

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

Title of Each Class	Name of Each Exchange on Which Registered
Common Stock, par value $.001 per share	New York Stock Exchange

SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined under Rule 405 of the Securities Act.     Yes  ¨     No  x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.     Yes  ¨    No  x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	x	Accelerated filer	¨
Non-accelerated filer	¨  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

The aggregate market value of common stock held by non-affiliates of the registrant was approximately $567,849,489 as of June 30, 2014, the last business day of the registrant’s second fiscal quarter of 2014.

As of January 31, 2015, there were 90,817,092 shares of the registrant’s common stock outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the registrant’s definitive Proxy Statement to be used in connection with its 2015 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K.

TABLE OF CONTENTS

		Page
PART I
ITEM 1.	BUSINESS		1
ITEM 1A.	RISK FACTORS		9
ITEM 1B.	UNRESOLVED STAFF COMMENTS		19
ITEM 2.	PROPERTIES		19
ITEM 3.	LEGAL PROCEEDINGS		20
ITEM 4.	MINE SAFETY DISCLOSURES		20
PART II
ITEM 5.	MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES		21
ITEM 6.	SELECTED FINANCIAL DATA		23
ITEM 7.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS		25
ITEM 7A.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK		53
ITEM 8.	FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA		55
ITEM 9.	CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE		95
ITEM 9A.	CONTROLS AND PROCEDURES		95
ITEM 9B.	OTHER INFORMATION		96
PART III
ITEM 10.	DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE		98
ITEM 11.	EXECUTIVE COMPENSATION		98
ITEM 12.	SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS		98
ITEM 13.	CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE		98
ITEM 14.	PRINCIPAL ACCOUNTANT FEES AND SERVICES		98
PART IV
ITEM 15.	EXHIBITS AND FINANCIAL STATEMENT SCHEDULES		99

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Special Note About Forward-Looking Statements

Monster Worldwide, Inc. (together with its consolidated subsidiaries, the “Company,” “Monster,” “Monster Worldwide,” “we,” “our” or “us”) makes forward-looking statements in this report and in other reports and proxy statements that we file with the Securities and Exchange Commission (the “SEC”). Except for historical information contained herein, the statements made in this report constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Such forward-looking statements involve certain risks and uncertainties, including statements regarding our strategic direction, prospects and future results. Certain factors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward-looking statements. These factors include, among other things, the global economic and financial market environment; risks associated with cuts in government spending; risks relating to our foreign operations; risks relating to the European debt crisis and market perceptions concerning the instability of the euro; our ability to maintain and enhance the value of our brands, particularly Monster; competition; risks related to our new strategy; fluctuations in our quarterly operating results; our ability to adapt to rapid developments in technology; our ability to continue to develop and enhance our information technology systems; concerns related to our privacy policies and our compliance with applicable data protection laws and regulations; intrusions on our systems; interruptions, delays or failures in the provision of our services; our vulnerability to intellectual property infringement claims brought against us by others; our ability to protect our proprietary rights and maintain our rights to use key technologies of third parties; the risk that acquisitions or partnerships may not achieve the expected benefits to us; our ability to attract and retain talented employees, including senior management; potential write-downs if our goodwill or amortizable intangible assets become impaired; adverse determinations by domestic and/or international taxation authorities related to our estimated tax liabilities; effects of anti-takeover provisions in our organizational documents that could inhibit the acquisition of Monster Worldwide by others; volatility in our stock price; risks associated with government regulation; the outcome of litigation we may become involved in from time to time; risks associated with our convertible senior notes due 2019; and other risks and uncertainties set forth from time to time in our reports and other filings made with the SEC, including under Part I, “ Item 1A. Risk Factors” of this report.

We undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this report.

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PART I

ITEM 1. BUSINESS

Introduction

Monster Worldwide, Inc. (together with its consolidated subsidiaries, the “Company,” “Monster,” “Monster Worldwide,” “we,” “our” or “us”) is a global leader in connecting people to jobs, wherever they are. For more than 20 years, Monster has helped people improve their lives with better jobs, and employers find the best talent. Today, the Company offers services in more than 40 countries, providing some of the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities. Monster continues its pioneering work of transforming the recruiting industry with advanced technology using intelligent digital, social and mobile solutions, including our flagship website monster.com^® and a vast array of products and services.

The Company’s services and solutions include: searchable job advertisements; resume database access; recruitment media solutions through its advertising network and partnerships; Twitter Cards and social job distribution; social profile aggregation; and other career-related content. Job seekers can search job advertisements and post their resumes for free on each of our career websites and mobile applications. Employers pay to: advertise available jobs and recruitment related services; search the Monster resume and social profile databases; and access other career-related services.

Our principal executive offices are located at 133 Boston Post Road, Building 15, Weston, Massachusetts 02493. Our telephone number is (978) 461-8000 and our website for corporate information is http://www.monster.com/about. Our predecessor business was founded in 1967, and our current company was incorporated in Delaware and became a public company in 1996. We make all of our public filings with the SEC available on our investor relations website located at http://ir.monster.com, free of charge, under the caption “Investor Relations—SEC Filings.” Included in these filings are proxy statements and notices to stockholders, annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports, which are available as soon as reasonably practicable after we electronically file or furnish such materials with the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act. Additionally, we webcast our earnings calls and certain events we participate in or host with members of the investment community on our investor relations website.

Our Strategy

Monster Worldwide’s long-term business strategy is designed to capitalize on the numerous opportunities that exist in the global online recruitment marketplace and related markets. Our strategy calls for strategic investment in product, technology, brand support and customer service to expand our global leadership position in an effort to achieve long-term growth and profitability and create shareholder value. In support of this strategy, we continue to invest in our operations on a global basis while controlling the growth of operating expenses.

Monster’s focus is on the needs of its customers, both employers and job seekers. Our advanced products and services are intended to improve the seeker experience while also developing deeper relationships with our employer customers. Through our innovative products and website, we offer greater value to all job seekers who look to manage their careers, even those who are not actively engaged in a job search. Our product offerings and services are designed to enhance seeker engagement and increase job response rates. We believe that more active seeker engagement will translate directly into higher quality candidates for our employer customers. For employers, our tools and features allow them to more efficiently and effectively attract and find the most relevant candidates for their job openings.

In May 2014, Monster revealed its “All the People, All the Jobs” strategy to drive the business and enhance its competitive position. Monster’s new strategy focuses on adding massive scale to its business to expand its total addressable market and the value it can provide to customers through a variety of new products, technologies and business models to successfully connect more people with more jobs.

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To enhance the scale of its business, the Company is dramatically expanding the number of jobs it offers, collecting jobs content from both traditional and social sources to ensure that employers can reach the right candidates, at the right time and place, with the right opportunities. Monster has grown the number of jobs available across its network from 250,000 in the U.S. in January 2014 to over 4 million today. This represents a vast increase in the volume of jobs, which is poised to grow with further international rollout.

As part of the new strategy, the Company is expanding its job advertising distribution beyond the traditional placement on its own network of sites and its Career Ad Network^® to include expanded social distribution. Monster Twitter Cards was launched in the U.S. on July 1, 2014 and in our Tier 1 countries in Europe and in Canada in October 2014. Monster Twitter Cards moves beyond the limitations of a standard Tweet to boost an employer’s integrated social recruiting strategy by automatically Tweeting jobs throughout the day to a company’s or recruiter’s Twitter feed. Monster Twitter Cards provides recruiters with a simple, turn-key way to more effectively message job openings, and drive additional reach, engagement and interaction with individuals on the Twitter platform. Monster Social Ads uses Twitter’s Ads API to provide the first fully automated social recruiting job ad solution featuring additional new targeting from Monster’s proprietary social candidate search capabilities. Monster Social Ads expands the distribution of Twitter Card-based job ads to directly reach potential candidates on Twitter based on career attributes such as occupation or industry type, something previously not possible for recruiters. The Company also plans to add multiple pricing models to its job advertising business, including duration and pay-per-click options which will roll out in the U.S. and our Tier 1 countries in Europe in the first and second quarters of 2015, respectively. This will create a significant opportunity to serve millions of new customers who seek variable job ad pricing.

Monster is also vastly increasing the number of candidates it delivers for search. With the recent acquisition of TalentBin^®, the Company now provides recruiters access to over 130 million candidate profiles aggregated from social sources across the Web, in addition to Monster’s own proprietary database of 25 million searchable resumes. This approach surfaces the truly passive candidates who are not actively seeking a new job. TalentBin by Monster was launched in the U.S. on July 1, 2014 and launched in our Tier 1 countries in Europe and in Canada in October 2014, and is expected to launch in our Tier 2 countries in Europe in early 2015. By harnessing the vast amount of professionally relevant information people share across the social web, TalentBin by Monster surfaces potential job candidates by assembling profiles using current professional activities from relevant sites. By making sense of candidate social activity, and compiling those details into a rich professional profile complete with contact information, recruiters now can find many previously undiscoverable candidates—including those not actively seeking a new job.

Monster offers the unique 6Sense^® semantic search technology to allow job seekers and employers to quickly find a precise match. 6Sense technology transforms traditional keyword-based processes by assisting our customers in matching candidates to their required job specifications. For seekers, 6Sense powered job search has changed how they explore, find and apply for jobs. Monster introduced a cloud-based search product SeeMore^® in the third quarter of 2011, which allows customers to utilize patented semantic search technology on their own talent databases. Further, the Monster Career Ad Network^® continues to be the largest recruitment-focused advertising network on the Internet, reaching an average of more than 100 million users globally across thousands of websites.

As an additional part of its strategy, Monster developed a commercial talent platform called Monster Talent CRM that can provide end-to-end sourcing or be integrated as components into existing recruiting workflows. Monster Talent CRM was deployed in the U.S. on July 1, 2014 and in our Tier 1 countries in Europe and in Canada in October 2014, and is expected to launch in our Tier 2 countries in early 2015. Monster Talent CRM is a self-service campaign and messaging platform that utilizes the same capabilities as Monster Power Resume Search^® technology to identify, source and create campaigns for recruiters and uses integrated CRM toolsets to create one-to-one or one-to-many recruiting campaigns against them.

Monster also operates a government solutions business, Monster Government Solutions (“MGS”), which sells software solutions to federal, state and local governments and educational institutions within the U.S. and the

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United Kingdom. MGS provides recruitment solutions that engage seekers and employers online, enable MGS customers to attract qualified candidates, expedite time to hire and create online communities using innovative technologies and services. These services primarily include customized career sites hosted by MGS utilizing a “Software as a Service” (“SaaS”) model. Additionally, Monster offers customers applicant tracking services, diversity offerings and other ancillary services either directly or through alliances to meet the changing needs of customers.

Monster’s Internet Advertising & Fees business operates a network of websites that connect companies to highly targeted audiences at critical stages in their lives. The Company’s goal is to offer compelling online services for the users of such websites through personalization, community features and enhanced content. This web traffic is monetized through display advertising and lead generation. The Company believes that these properties appeal to advertisers and other third parties as they deliver certain discrete demographics entirely online.

Monster operates in an industry and in markets that are continually evolving with the entrance of new competitors and the changing needs of seekers and employers. The Company adjusts its product offerings and makes new investments in its technology platform in order to meet the challenges presented by the market evolution. The Company believes its “All the People All the Jobs” strategy addresses this market evolution and positions Monster to achieve long-term growth while controlling the growth of operating expenses.

In the second quarter of 2014, we carried out a significant realignment of our mid-market and field sales organizations to bring greater focus around accelerating market expansion and acquiring new customers, which included a significant change to our account coverage model. Our global sales structure allows us to sell and distribute our products and services to large, medium and small businesses on a local basis. Our objective is to offer existing customers additional products while expanding our coverage to attract new customers. We service existing and potential customers through a field sales force, telephone sales force and an online service, which we refer to as our “e-Commerce” channel, where customers can advertise jobs and access the resume database without sales force involvement. In the United States our field and telesales forces operate regionally but under separate segment management structures. In order to support our broadened product portfolio and our expanded sales resources, we have in-sourced, centralized and standardized our global call center operations to create a customer focused, proactive value added model.

Recent Developments

“Reallocate to Accelerate”

On February 10, 2015, the Company committed to take a series of cost savings initiatives to reduce costs globally while continuing to support the Company’s new strategy. The initiatives currently include a global workforce reduction of approximately 300 associates, or 7% of its full-time staff, consolidation of certain office facilities, and continuing discretionary-spending and office and general expense controls. The Company expects these reductions, currently anticipated to be completed by the end of 2015, to result in annualized savings of approximately $38 million to $45 million. The full impact of the savings will be realized beginning in the fourth quarter of 2015. As a result of these initiatives, the Company expects to record a cumulative pre-tax charge within the range of $18 million to $23 million, all of which is expected to be cash expenditures. The majority of the associated charges are expected to be recorded in the first half of 2015.

Leadership Changes

On November 4, 2014, the Company announced that Timothy Yates, a Director of Monster and formerly its Executive Vice President and Chief Financial Officer, had been appointed President and Chief Executive Officer. Monster also announced that effective November 4, 2014, Mark Stoever, Executive Vice President, Corporate Development and Internet Advertising, had been appointed Executive Vice President and Chief Operating Officer of the Company.

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Effective November 4, 2014, Salvatore Iannuzzi resigned as Chief Executive Officer and President of the Company, while continuing to serve as Non-Executive Chairman of the Board of Directors of the Company. On February 10, 2015, Mr. Iannuzzi resigned as Non-Executive Chairman of the Board of Directors and as a director of the Company, effective immediately. Such resignation is not as a result of any disagreement with the Company with respect to the Company’s operations, policies or practices. Pursuant to a letter agreement between Mr. Iannuzzi and the Company, dated November 3, 2014, Mr. Iannuzzi will remain an employee of the Company until June 30, 2015 to facilitate an orderly transition.

Our Services

The Company operates in three reportable segments: Careers-North America; Careers-International; and Internet Advertising & Fees. For the year ended December 31, 2014, these operating segments represented approximately 57%, 35% and 8% of our consolidated revenue, respectively. Please see Note 19-Segment and Geographic Data of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for further discussion of our segment results.

Careers (North America and International)

Monster is a global leader in connecting people to jobs, wherever they are. Monster offers services in more than 40 countries around the world. We earned 35%, 36%, and 39% of our total revenue from continuing operations outside of North America in the years ended December 31, 2014, 2013 and 2012, respectively. With a local presence in key markets in North America, Europe, and Asia, Monster works by connecting employers with quality job seekers at all levels and by providing searchable jobs and career management resources online. For the employer, our goal is to provide the most effective solutions and easiest to use technology to simplify the hiring process and deliver access to our community of job seekers. For job seekers, our purpose is to improve their careers by providing work-related content, services and advice.

Our services and solutions include: searchable job advertisements; resume database access; recruitment media solutions through our advertising network and partnerships; Twitter Cards and social job distribution; social profile aggregation; and other career-related content. Job seekers can search job advertisements and post their resumes for free on each of our career websites and mobile applications. Employers pay to: advertise available jobs and recruitment related services; search the Monster resume and social databases; and access other career-related services.

Monster has traditionally targeted the enterprise market, or those businesses that we consider to be among the 1,500 largest organizations globally. However, we have increased our efforts to expand our penetration into the small-to-medium sized businesses (“SMBs”), those businesses with approximately 10 to 2,000 employees that operate primarily in local and regional markets. We currently have alliances with media and publishing companies, including approximately 1,000 newspapers in the United States, which extends our presence with local and regional job seekers.

Internet Advertising & Fees

Monster’s Internet Advertising & Fees business operates a network of websites that connect companies to highly targeted audiences at critical stages in their lives. The Company’s goal is to offer compelling online services for the users of such websites through personalization, community features and enhanced content. This web traffic is monetized through display advertising and lead generation. The Company believes that these properties appeal to advertisers and other third parties as they deliver certain discrete demographics entirely online.

Revenue for the Internet Advertising & Fees segment is derived primarily from two types of services: display advertising and lead generation. Display advertising opportunities have been integrated across the Monster Worldwide network of websites, allowing marketers to deliver targeted online advertising messages via numerous sizes and formats of creative units. Consumers come to Monster’s websites for information and advice

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on how to manage critical life transitions, and this environment is typically seen by marketers as desirable for the promotion of products and services as consumers are actively looking for new ideas and solutions. Lead generation is a direct response business in which marketers pay for connections to consumers whose demographics match the requirements of specific business or educational offerings and who request information about the offerings. Our large database of users and ongoing collection of numerous points of data allows us to provide our customers with targeted and valuable opportunities to connect with interested consumers.

Sales and Marketing

In the second quarter of 2014, we carried out a significant realignment of our mid-market and field sales organizations to bring greater focus around accelerating market expansion and acquiring new customers, which included a significant change to our account coverage model.

The Company’s sales resources consist of field sales, telesales, and a self-service e-Commerce channel. Our sales activities are geared towards enterprise, SMB, government agencies, advertising agencies and educational institutions. The field and telesales resources for our Careers business in the United States are regionalized to better serve our customers with a more high touch, consultative approach, while providing greater efficiencies for developing new business opportunities. We have specialty units within the sales organization, dedicated to serving our vertical markets, such as: government; healthcare; staffing; and newspapers. Our telesales staff is primarily responsible for telemarketing and customer service for SMBs and is located in our offices around the world. Our field sales staff focuses on both local and national customers and is also dispersed throughout our offices globally. Our e-Commerce channel is available to all customer groups and is currently most heavily used by smaller employers. Our Internet Advertising & Fees sales force is located throughout the United States and is focused on cross-selling the products of each property within its network.

The majority of our advertising budget is allocated to online advertising including: search engine marketing; alliances; and distributed job content to drive unique visitors to search for and apply to jobs. Our marketing approach also includes a regionally varied selection of traditional offline advertising such as: television; radio; and business, consumer and trade publications to market and promote the Monster brand and our innovative products and services. The majority of our marketing and promotion expense is allocated to our Careers-North America and Careers-International segments.

Customers

Our customers are comprised of enterprise organizations, small and medium-sized organizations, federal, state and local government agencies, educational institutions and individuals. No one customer accounts for more than 5% of our total annual revenue.

Competition

The markets for our services and products are highly competitive and are characterized by pressure to win new customers, expand the market for our services and incorporate new capabilities and technologies. We face competition from a number of sources. These sources include other employment-related websites, including websites that aggregate job advertisements from multiple company websites and job sites; professional networking and social networking websites; general classified advertising websites; traditional media companies (primarily newspaper publishers); Internet portals; search engines; and general-interest websites such as blogs. The barriers to entry into Internet businesses like ours are relatively low. As a result, new competitors continuously arise.

In addition to traditional competitors that provide products and services that are very similar to Monster’s core products and services, we face increasing competition from a broad range of competitor types. Professional networking websites have had significant success over the past several years in gaining large numbers of members

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and attracting employer customers with products that compete directly with our products. Many niche career websites have been launched targeted at specific industry verticals, and many industry blogs and websites now provide employment advertising opportunities for employers within specific industries. Jobs aggregator websites have become a source of competition as they permit job seekers to search multiple company websites and job boards. Low-cost and free classified advertising websites have also gained increased acceptance with employers.

Some of our competitors or potential competitors may have greater financial, management, technological, development, sales, marketing and other resources than we do. In addition, our ability to maintain our existing customers and generate new customers depends to a significant degree on the quality of our services, pricing and reputation among our customers and potential customers.

In May 2014, Monster revealed its “All the People, All the Jobs” strategy to drive the business and enhance its competitive position. Monster’s new strategy focuses on adding massive scale to its business to expand its total addressable market and the value it can provide to customers through a variety of new products, technologies and business models to successfully connect more people with more jobs. We believe our new strategy enhances our competitive position and positions the Company to achieve long-term growth while controlling the growth of operating expenses.

Intellectual Property

Our success and ability to compete are dependent in part on the protection of our domain names, trademarks, trade names, service marks, patents and other proprietary rights. We rely on copyright laws to protect the original website content that we develop. In addition, we rely on federal, state and foreign trademark laws to provide additional protection for the identifying marks appearing on and the design and appearance of our Internet sites. A degree of uncertainty exists concerning the application and enforcement of copyright and trademark laws with respect to the Internet, and there can be no assurance that existing laws will provide adequate protection for our original content or the appearance of our Internet sites. In addition, because copyright laws do not prohibit independent development of similar content, there can be no assurance that copyright laws will provide any competitive advantage to us. We also assert common law protection on certain names and marks that we have used in connection with our business activities.

We rely on trade secret, copyright and patent laws to protect the proprietary technologies that we have developed to manage and improve our Internet sites and advertising services, but there can be no assurance that such laws will provide sufficient protection to us, that others will not develop technologies that are similar or superior to ours, or that third parties will not copy or otherwise obtain and use our technologies without authorization. We have obtained patents and applied for several other patents with respect to certain of our software systems, methods and related technologies, but there can be no assurance that any pending applications will be granted or that any patents will not be challenged, invalidated or circumvented in the future, or that the rights granted thereunder will provide us with a competitive advantage. In addition, we rely on certain technology licensed from third parties, and may be required to license additional technology in the future, for use in managing our Internet sites and providing related services to users and advertising customers. Our ability to generate fees from Internet commerce may also depend on data encryption and authentication technologies that we may be required to license from third parties. There can be no assurance that these third-party technology licenses will be available or will continue to be available to us on acceptable commercial terms or at all. The inability to enter into and maintain any of these technology licenses could significantly harm our business, financial condition and operating results.

Policing unauthorized use of our proprietary technology and other intellectual property rights could entail significant expense and could be difficult or impossible, particularly given the global nature of the Internet and the fact that the laws of other countries may afford us little or no effective protection of our intellectual property.

We have been named as defendants in lawsuits from time to time alleging that we infringed on patents of third parties. There can be no assurance that other third parties will not assert against us claims of patent, copyright or

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trademark infringement. We anticipate an increase in patent infringement claims involving Internet-related technologies as the number of products and competitors in this market grows and as related patents are issued. Further, there can be no assurance that third parties will not claim that we have misappropriated their trade secrets, creative ideas or formats or otherwise infringed their proprietary rights in connection with our Internet content or technology. Any claims of infringement or misappropriation, with or without merit, could be time consuming to defend, result in costly litigation, divert management attention, and require us to enter into costly royalty or licensing arrangements. If a party claiming infringement is successful, we could be required to pay substantial licensing fees or compensatory or punitive damages, and we could be enjoined from using important technologies or methods. If we are enjoined, it may not be possible or commercially practical for us to develop or obtain and implement substitute technologies or methods that are not covered by a third party’s intellectual property. Any of these outcomes could significantly harm our business, financial condition and operating results.

Employees

As of January 31, 2015, we employed approximately 4,000 people worldwide.

Executive Officers

As of January 31, 2015, our executive officers were as follows:

Name	Age	Position
Timothy T. Yates	67	President and Chief Executive Officer
Mark Stoever	47	Executive Vice President and Chief Operating Officer
James M. Langrock	49	Executive Vice President and Chief Financial Officer
Lise Poulos	56	Executive Vice President and Chief Administrative Officer
Michael B. McGuinness	38	Senior Vice President, Chief Accounting Officer and Global Controller

Timothy T. Yates has been a Director of Monster since June 2007 and has been President and Chief Executive Officer since November 2014. Mr. Yates served as Executive Vice President of Monster from June 2007 through June 2013 and concurrently as Chief Financial Officer from June 2007 through January 2011. Prior to joining Monster, Mr. Yates was a Senior Vice President of Motorola, Inc.’s Enterprise Mobility business responsible for Motorola’s integration of Symbol Technologies, Inc. (“Symbol”) from January 2007 to June 2007. Before that, from February 2006 to January 2007, he was Senior Vice President, Chief Financial Officer and a Director of Symbol. From August 2005 to February 2006, Mr. Yates served as an independent consultant to Symbol. Prior to this, from October 2002 to November 2005, Mr. Yates served as a partner and Chief Financial Officer of Saguenay Capital, a boutique investment firm. Prior to that, he served as a founding partner of Cove Harbor Partners, a private investment and consulting firm, which he helped establish in 1996. From 1971 through 1995, Mr. Yates held a number of senior leadership roles at Bankers Trust New York Corporation, including serving as Chief Financial and Administrative Officer from 1990 through 1995.

Mark Stoever has been Executive Vice President and Chief Operating Officer of Monster since November 2014. Previously, he held several leadership positions including Executive Vice President, Corporate Development and Internet Advertising from October 2011 to November 2014 and Executive Vice President, Corporate Development and Strategic Alliances from September 2008 to October 2011. He has overseen Internet Advertising & Fees since joining the Company in July 2005. Prior to joining Monster, Mr. Stoever served as Executive Vice President of Decision Matrix Group and also various management roles at Lycos, Inc. including President and Chief Executive Officer. Mr. Stoever has also held management positions with ON Technology Corporation, a software company, and at Microcom, Inc., a modem technology company.

James M. Langrock has been our Executive Vice President and Chief Financial Officer since January 2011. From May 2008 until January 2011, Mr. Langrock served as the Company’s Senior Vice President, Finance and Chief Accounting Officer. Prior to joining the Company, Mr. Langrock was Vice President, Finance of Motorola, Inc.’s Enterprise Mobility business from January 2007 to April 2008. From May 2005 to January 2007, Mr. Langrock

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served as the Vice President, Chief Accounting Officer and Corporate Controller at Symbol. From December 2003 to May 2005, Mr. Langrock was Symbol’s Vice President—Internal Audit. Before joining Symbol, he served as Chief Financial Officer at Empress International, Ltd., an importer and wholesale distributor, from May 2002 to November 2003. From 1991 to April 2002, Mr. Langrock held a variety of audit positions at Arthur Andersen LLP, including Senior Manager in the Audit and Business Advisory Practice.

Lise Poulos has been our Executive Vice President and Chief Administrative Officer since January 2008. Previously, she served as Executive Vice President since September 2007. Prior to joining the Company, Ms. Poulos served as Senior Vice President, Human Resources of Motorola, Inc.’s Enterprise Mobility business from January 2007 to July 2007. From 1997 to January 2007, Ms. Poulos held various roles at Symbol, including Senior Vice President, Human Resources and Corporate Communications from August 2006 to January 2007, Vice President, Human Resources from November 2005 to August 2006 and Director, Human Resources from 2002 to November 2005. Prior to joining Symbol, Ms. Poulos worked at a major energy company and in the financial services industry.

Michael B. McGuinness has been our Senior Vice President, Chief Accounting Officer and Global Controller since February 2012. Previously, he served as the Vice President and Assistant Global Controller from July 2008 to January 2012. Prior to joining the Company, Mr. McGuinness served as the Director of Corporate Accounting at Verint Systems Inc., a publicly-traded provider of enterprise and security intelligence solutions, where he was responsible for global revenue accounting, external reporting and technical accounting from March 2007 to July 2008. Prior to that, he was the Senior Manager of External Reporting and Technical Accounting at Symbol, from January 2004 to March 2007, and Manager of Internal Audit from 2002 to 2004. Before joining Symbol, Mr. McGuinness held a variety of audit positions at Arthur Andersen LLP in the Audit and Business Advisory Practice. Mr. McGuinness is a Certified Public Accountant in New York State.

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ITEM 1A. RISK FACTORS

The existing global economic and financial market environment has had, and may continue to have, a negative effect on our business and operations.

Because demand for our services is sensitive to changes in the level of economic activity, our business has suffered during economic downturns. Many companies hire fewer employees when economic activity is slow. As a result, demand for our services is reduced, which leads to lower sales. If the economy does not fully recover or worsens, or unemployment remains at high levels, demand for our services and our sales may be further reduced. In addition, lower demand for our services may lead to lower prices for our services.

Volatility in global financial markets may also limit our ability to access the capital markets at a time when we would like, or need, to raise capital, which could have an impact on our ability to react to changing economic and business conditions. Accordingly, if the economy does not fully recover from a downturn or worsens, our business, results of operations and financial condition could be materially and adversely affected.

Risks associated with cuts in government spending could materially and adversely affect our business, operations and financial condition.

Reductions in government expenditures that have been or may be proposed or mandated could have a material adverse effect on our business, operations and financial condition. Government agencies may be limited in their ability to contract for Monster’s services due to any proposed or mandated spending cuts. In addition, there could be an overall negative impact on economic growth as a result of decreased government spending, which could adversely affect our business, operations and financial condition.

We face risks relating to our foreign operations.

We earned 37%, 38% and 42% of our total revenue from continuing operations outside of the United States in the years ended December 31, 2014, 2013 and 2012, respectively. Such amounts are generally collected in local currencies. In addition, we generally pay operating expenses in local currencies. Therefore, we are at risk for exchange rate fluctuations between such local currencies and the United States dollar. Global foreign exchange markets have experienced periods of heightened volatility in recent years and we cannot predict the direction or magnitude of future currency fluctuations. A weakening of the currencies in which we generate sales relative to the currencies in which our costs are denominated may lower our results of operations.

We are also subject to taxation in foreign jurisdictions. In addition, transactions between our foreign subsidiaries and us may be subject to United States and foreign withholding taxes. Applicable tax rates in foreign jurisdictions differ from those of the United States, and change periodically. The extent, if any, to which we will receive credit in the United States for taxes we pay in foreign jurisdictions will depend upon the application of limitations set forth in the Internal Revenue Code of 1986, as well as the provisions of any tax treaties that may exist between the United States and such foreign jurisdictions.

Our international operations might not succeed or might fail to meet our expectations for a number of reasons, including:

• general political uncertainty;

• difficulties in staffing and managing foreign operations;

• competition from local recruiting services;

• operational issues such as longer customer payment cycles and greater difficulties in collecting accounts receivable;

• seasonal reductions in business activity;

• language and cultural differences;

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• taxation issues;

• complex legal and regulatory requirements that may be uncertain and may change; and

• issues relating to uncertainties of laws and enforcement relating to the regulation and protection of intellectual property.

Also, we could be exposed to fines and penalties under United States laws such as the Foreign Corrupt Practices Act and local laws prohibiting corrupt payments to governmental officials. Although we have implemented policies and procedures designed to ensure compliance with these laws, we cannot be sure that our employees, contractors or agents will not violate our policies. Any such violations could materially damage our reputation, our brand, our international expansion efforts, our business and our operating results.

Concerns regarding the European debt crisis and market perceptions concerning the instability of the euro could adversely affect the Company’s business, results of operations and financing.

Concerns persist regarding the debt burden of certain Eurozone countries and their ability to meet future financial obligations, the overall stability of the euro and the suitability of the euro as a single currency given the diverse economic and political circumstances in individual Eurozone countries. These concerns, or market perceptions concerning these and related issues, could adversely affect the value of the Company’s euro-denominated assets and obligations and lead to future economic slowdowns.

We rely on the value of our brands, particularly Monster, and the costs of maintaining and enhancing our brand awareness are increasing.

Our success depends on our brands and their value. Our business would be harmed if we were unable to adequately protect our brand names, particularly Monster. We believe that maintaining and expanding the Monster brand is an important aspect of our efforts to attract and expand our job seeker and employer customer base. We also believe that the importance of brand recognition will increase due to the growing number of Internet sites and the relatively low barriers to entry. We have spent considerable money and resources to date on the establishment and maintenance of the Monster brand. We are devoting substantial resources to advertising, marketing and other brand-building efforts to preserve and enhance consumer awareness of the Monster brand. Despite this, we may not be able to successfully maintain or enhance consumer awareness of the Monster brand and, even if we are successful in our branding efforts, such efforts may not be cost-effective. If we are unable to maintain or enhance consumer awareness of the Monster brand in a cost-effective manner, our business, operating results and financial condition may be harmed significantly.

We also are susceptible to others imitating our products and brands, particularly our Monster brand, and infringing on our intellectual property rights. We may not be able to successfully protect our intellectual property rights, upon which we are dependent. While we believe we have strong trademark protection in the Monster brand worldwide in the careers and recruitment business, that protection does not extend fully to our other businesses. Other companies and organizations use the “Monster” name, and more may do so in the future. This use could adversely affect our brand recognition and reputation if employers or job seekers confuse us with these other organizations. In addition, the laws of foreign countries do not necessarily protect intellectual property rights to the same extent as the laws of the United States. Imitation of our products or brands, particularly our Monster brand, or infringement of our intellectual property rights could diminish the value of our brands or otherwise reduce our revenues.

Our markets are highly competitive.

The markets for our services are highly competitive. They are characterized by pressures to:

• reduce prices;

• incorporate new capabilities and technologies; and

• accelerate hiring timelines.

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Furthermore, we face competition from a number of sources. These sources include:

• other employment-related websites, including large national and international competitors, niche career websites targeted at specific industry verticals, and jobs aggregator websites that aggregate job postings from multiple company websites and job boards;

• professional networking and social networking websites;

• general classified advertising websites, some of which offer a low-cost or free alternative to our offerings;

• traditional media companies, including newspapers; and

• Internet portals, search engines and general-interest websites such as blogs.

In addition to traditional competitors that provide products and services that are very similar to Monster’s core products and services, we face increasing competition from a broad range of competitor types. Professional networking websites have had significant success over the past several years in gaining large numbers of members and attracting employer customers with products that compete directly with our products. Many niche career websites have been launched targeted at specific industry verticals and many industry blogs and websites now provide employment advertising opportunities for employers within specific industries. Jobs aggregator websites have become a source of competition as they permit job seekers to search multiple company websites and job boards. Low-cost and free classified advertising websites have also gained increased acceptance with employers.

Some of our competitors or potential competitors may have greater financial resources, management, technological development, sales, marketing and other resources than we do. Some of our competitors have more diversified businesses or may be owned by entities engaged in other lines of business, allowing them to operate their directly competitive operations at lower margins than our operations. In addition, our ability to maintain our existing customers and attract new customers depends to a large degree on the quality of our services and our reputation among our customers and potential customers.

Due to competition, we may experience reduced margins on our products and services, loss of market share or diminished use of our services by job seekers and our customers. If we are not able to compete effectively with current or future competitors as a result of these and other factors, our business, financial condition and results of operations could be significantly harmed.

We have no significant proprietary technology that would preclude or inhibit competitors from entering the online advertising market. Existing or future competitors may develop or offer services and products that provide significant performance, price, creative or other advantages over our services. If we do not keep pace with product and technology advances, there could be a material adverse impact on our competitive position, revenue and prospects for growth. This could significantly harm our business, financial condition and operating results.

If we cannot successfully execute on our “All the People, All the Jobs” strategy and continue to develop and market products, services and solutions that meet customer requirements for innovation and quality, our financial results may suffer.

The implementation of our new strategy globally is a complex process and relies on leveraging our portfolio of core products to help accelerate the adoption of our new products and services. Success of our future operating results will be dependent upon rapid customer adoption of our new products and services. If our customers are not receptive to our new products and services or our new products and services do not provide the quantity or quality of job candidates that our customers seek, there could be a negative impact on the implementation of our new strategy. To successfully execute on this strategy, we need to continue to further evolve the focus of our organization towards the delivery of cost effective and unique solutions for our customers. Any failure to successfully execute this strategy could adversely affect our operating results.

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Our operating results fluctuate from quarter to quarter.

Our quarterly operating results have fluctuated in the past and may fluctuate in the future. These fluctuations are a result of a variety of factors, including, but not limited to:

• the timing and amount of existing customers’ subscription renewals;

• enhancements to existing services;

• the hiring cycles of employers;

• changes in general economic conditions, such as recessions, that could, among other things, affect recruiting efforts generally and online recruiting efforts in particular;

• the magnitude and timing of marketing initiatives;

• the maintenance and development of our strategic relationships;

• our ability to attract and retain customers;

• technical difficulties or system downtime affecting the Internet generally or the operation of our products and services specifically; and

• enhancements to technology to safeguard against security breaches.

We face risks relating to developing technology.

The market for our products and services is characterized by rapid technological developments, frequent new product introductions and evolving industry standards. The emerging character of these products and services and their rapid evolution will require continuous improvement in the performance, features and reliability of our Internet and mobile content, particularly in response to competitive offerings. We may not be successful in responding quickly, cost effectively and sufficiently to these developments. In addition, the widespread adoption of new technologies or standards (including several different mobile and smart phone operating systems) could require us to make substantial expenditures to modify or adapt our websites, applications and services. Each manufacturer or distributor of a mobile device or smart phone may establish unique technical standards for its devices, and our products and services may not work or be viewable on these devices as a result. As new devices and new platforms are continually being released, it is difficult to predict the problems we may encounter in developing versions of our products and services for use on these alternative devices and we may need to devote significant resources to the creation, support, and maintenance of such devices. If we are slow to develop products and technologies that are compatible with such devices, we might fail to capture a significant share of an increasingly important portion of the market for our products and services. This could harm our business, financial condition and operating results.

New Internet services or enhancements that we have offered or may offer in the future may contain design flaws or other defects that could require expensive modifications or result in a loss of customer confidence. Any disruption in Internet access or in the Internet generally could significantly harm our business, financial condition and operating results. Slower response times or system failures may also result from straining the capacity of our software, hardware or network infrastructure. To the extent that we do not effectively address any capacity constraints or system failures, our business, results of operations and financial condition could be significantly harmed.

Trends that could have a critical impact on our success include:

• rapidly changing technology in online recruiting;

• evolving industry standards relating to online recruiting;

• developments and changes relating to the Internet and mobile devices;

• evolving government regulations;

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• competing products and services that offer increased functionality;

• changes in employer and job seeker requirements; and

• customer privacy protection concerning transactions conducted over the Internet.

We rely heavily on our information systems and if our access to this technology is impaired, or we fail to further develop our technology, our business could be significantly harmed.

Our success depends in large part upon our ability to store, retrieve, process and manage substantial amounts of information, including our employer customer and job seeker databases. To achieve our strategic objectives and to remain competitive, we must continue to develop and enhance our information systems. Our future success will depend on our ability to adapt to rapidly changing technologies, to adapt our information systems to evolving industry standards and to improve the performance and reliability of our information systems. This may require the acquisition of equipment and software and the development, either internally or through independent consultants, of new proprietary software. Our inability to design, develop, implement and utilize, in a cost-effective manner, information systems that provide the capabilities necessary for us to compete effectively could significantly harm our business, results of operations or financial condition.

Concerns relating to our privacy policies and our compliance with applicable data protection laws and regulations could damage our reputation and deter current and potential customers, job seekers and other Internet users from using our products and services and subject us to fines.

Concerns about our practices with regard to the collection, use, disclosure or security of personal information or other privacy-related matters, even if unfounded, could damage our reputation, which in turn could significantly harm our business, financial condition and operating results.

While we strive to comply with all applicable data protection laws and regulations, as well as our own posted privacy policies, any failure or perceived failure to comply may result in proceedings or actions against us by government entities or others, which could potentially have an adverse impact on our business. Moreover, failure or perceived failure to comply with applicable laws, regulations, requirements or our policies related to the collection, use, sharing or security of personal information or other privacy-related matters could result in a loss of confidence in us by customers, job seekers and other Internet users and could expose us to fines and penalties and could require us to expend significant sums in connection with any failure or perceived failure, each of which could adversely affect our business, financial condition and results of operations. Laws related to data protection continue to evolve. It is possible that certain jurisdictions may enact laws or regulations that impact our ability to offer our products and services and/or result in reduced traffic or contract terminations in those jurisdictions, which could harm our business, financial condition and results of operations.

Intrusions on our systems could damage our business.

Despite our implementation of network security measures, our servers are vulnerable to cyber-attacks, computer viruses, worms and other malicious software programs, physical and electronic break-ins, sabotage and similar disruptions from unauthorized tampering with our computer systems. Unauthorized access could jeopardize the security of information stored in our systems relating to our customers, job seekers and other website users, and can lead to “phishing” schemes whereby unauthorized persons pose as employers or Monster representatives and seek to obtain personal information from our customers and job seekers. In addition, malware or viruses could jeopardize the security of information stored or used in a user’s computer.

We have experienced these intrusions in the past. We may also experience these intrusions in the future and may be required to expend significant sums and resources to safeguard against or remediate them. Moreover, negative publicity arising from any intrusion is damaging to our reputation and may adversely impact traffic to our sites. Accordingly, any intrusion could significantly harm our business, financial condition and results of operations.

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Interruptions, delays or failures in the provision of our services could damage our brand and harm our operating results.

Our systems are susceptible to outages and interruptions due to fire, floods, power loss, telecommunications failures, terrorist attacks and similar events. Our systems’ continuing and uninterrupted performance is critical to our success. Customers, job seekers and other website users may become dissatisfied by any system failure that interrupts our ability to provide our services to them, including failures affecting our ability to serve web page requests without significant delay to the viewer. Sustained or repeated system failures would reduce the attractiveness of our solutions to customers, job seekers and other Internet users and result in reduced traffic, contract terminations, fee rebates and make goods, thereby reducing revenue. Moreover, negative publicity arising from these types of disruptions is damaging to our reputation and may adversely impact traffic to our sites.

We do not have multiple site redundancy for all of our services and some of our systems are not fully redundant in the event of any such occurrence. In an effort to reduce the likelihood of a geographical or other disaster impacting our business, we have distributed, and intend to continue assessing the need to distribute, our servers among additional data centers. Failure to execute these changes properly or in a timely manner could result in delays or interruptions to our service, which could result in a loss of users and damage to our brand, and harm our operating results. We may not carry sufficient business interruption insurance to compensate us for losses that may occur as a result of any events that cause interruptions in our service.

We are vulnerable to intellectual property infringement claims brought against us by others.

Successful intellectual property infringement claims against us could result in monetary liability or a material disruption in the conduct of our business. We cannot be certain that our products, content and brand names do not or will not infringe valid patents, trademarks, copyrights or other intellectual property rights held by third parties. We expect that infringement claims in our markets will increase in number. We may be subject to legal proceedings and claims from time to time relating to the intellectual property of others in the ordinary course of our business. If we were found to have infringed the intellectual property rights of a third party, we could be liable to that party for license fees, royalty payments, lost profits or other damages, and the owner of the intellectual property might be able to obtain injunctive relief to prevent us from using the technology or software in the future. If the amounts of these payments were significant or we were prevented from incorporating certain technology or software into our products, our business could be significantly harmed.

We may incur substantial expenses in defending against these third party infringement claims, regardless of their merit. As a result, due to the diversion of management time, the expense required to defend against any claim and the potential liability associated with any lawsuit, any significant litigation could significantly harm our business, financial condition and results of operations.

If we are unable to protect our proprietary rights or maintain our rights to use key technologies of third parties, our business may be harmed.

A degree of uncertainty exists concerning the application and enforcement of trademark, trade dress and copyright laws to the Internet, and existing laws may not provide us adequate protection for our original content or the appearance of our Internet sites. In addition, because copyright laws do not prohibit independent development of similar content, copyright laws may not provide us with any competitive advantage. We have obtained patents and applied for other patents with respect to certain of our software systems, methods and related technologies, but our pending applications may not be granted and any patents issued to us may in the future be challenged, invalidated or circumvented, and the rights granted under patents may not provide us with a competitive advantage. We also face risks associated with our trademarks, particularly trademarks covering the Monster brand. Policing unauthorized use of our proprietary technology and other intellectual property rights could involve significant expense and could be difficult or impossible, particularly given the global nature of the Internet and the fact that the laws of certain other countries may afford us little or no effective protection of our

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intellectual property. Moreover, certain amendments to the United States patent law made by the America Invents Act of 2011, may affect our ability to protect our innovations and defend against claims of patent infringement.

In addition, we rely on certain technology licensed from third parties, and may be required to license additional technology in the future for use in managing our Internet sites and providing related services to users and advertising customers. Our ability to generate fees from Internet commerce may also depend on data encryption, authentication and other technologies that we may be required to license from third parties. These third-party technology licenses may not continue to be available to us on acceptable commercial terms or at all. The inability to enter into and maintain any of these technology licenses could significantly harm our business, financial condition and operating results.

We have made strategic acquisitions and entered into alliances and joint ventures in the past and may do so in the future. If we are unable to achieve expected benefits from such transactions, there could be a material adverse impact on our business, growth rates and results of operations.

As part of our business strategy we have entered into agreements relating to acquisitions, strategic alliances and joint ventures. Such transactions are inherently risky and can be accompanied by a number of risks, including:

• the difficulty of integrating the operations and personnel of the acquired companies into our operations;

• the potential disruption of our ongoing business and distraction of management;

• the difficulty of integrating acquired technology and rights into our services and unanticipated expenses related to such integration;

• the impairment of relationships with customers and partners of the acquired companies or our customers and partners as a result of the integration of acquired operations;

• the impairment of relationships with employees of the acquired companies or our employees as a result of integration of new management personnel;

• the difficulty of integrating the acquired companies’ accounting, management information, human resources and other administrative systems;

• in the case of foreign acquisitions, uncertainty regarding foreign laws and regulations and the difficulty integrating operations and systems as a result of cultural, systems and operational differences; and

• the impact of known potential liabilities or unknown liabilities associated with the acquired companies.

Our failure to be successful in addressing these risks or other problems encountered in connection with acquisitions could cause us to fail to realize the anticipated benefits of any such acquisitions, incur unanticipated liabilities and significantly harm our business, financial condition and results of operations generally.

Our business depends largely on our ability to attract and retain talented employees, including senior management.

We are substantially dependent on the continued services of our executive officers and senior management. The loss of any of these individuals could harm our business, financial condition and results of operations. Our business is also dependent on our ability to retain, hire, motivate and develop talented, highly skilled personnel. Experienced management and technical, marketing and support personnel in our industry are in high demand, and competition for their talents is intense. If we are less successful in our recruiting efforts, or if we are unable to retain key employees, our ability to develop and deliver successful products and services may be adversely affected.

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We have recorded significant goodwill impairment charges and may be required to record additional charges to future earnings if our goodwill or intangible assets become impaired.

We are required under generally accepted accounting principles to review our intangible assets for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. Goodwill is required to be tested for impairment at least annually. Factors that may be considered a change in circumstances indicating that the carrying value of our intangible assets may not be recoverable include a decline in stock price and market capitalization, slower growth rates in our industry or our own operations, and/or other materially adverse events that have implications on the profitability of our business. In the fourth quarter of 2014, primarily due to declines in our market capitalization, we recorded a pre-tax goodwill impairment charge of $325.8 million ($263.0 million in Careers-North America and $62.8 million in Internet Advertising & Fees). On a net of tax basis, the charge was $263.0 million after recognizing a tax benefit of $62.8 million. See Note 5—Goodwill and Intangible Assets of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for details. We may be required to record additional charges to earnings during the period in which any impairment of our goodwill or other intangible assets is determined which could adversely impact our results of operations. As of December 31, 2014, our goodwill balance was $540.6 million, which represented 44% of total consolidated assets.

We estimate tax liabilities, the final determination of which is subject to review by domestic and international taxation authorities.

We are subject to income taxes and other taxes in both the United States and the foreign jurisdictions in which we currently operate or have historically operated. We are also subject to review and audit by both domestic and foreign taxation authorities. The determination of our worldwide provision for income taxes and current and deferred tax assets and liabilities requires judgment and estimation. In the ordinary course of our business, there are many transactions and calculations where the ultimate tax determination is uncertain. In addition, our future income taxes could be adversely affected by earnings being lower than anticipated in jurisdictions that have lower statutory tax rates and higher than anticipated in jurisdictions that have higher statutory tax rates, by changes in the valuation of our deferred tax assets and liabilities, or by changes in tax laws, regulations, or accounting principles. The application of indirect taxes (such as sales and use tax, value-added tax (VAT), goods and services tax, business tax and gross receipt tax) to e-Commerce businesses such as Monster and to our users is a complex and evolving issue. Many of the fundamental statutes and regulations that impose these taxes were established before the adoption and growth of the Internet and e-Commerce. In many cases, it is not clear how existing statutes apply to our business models. Although we believe that our estimates are reasonable, the ultimate tax outcome may differ from the amounts recorded in our financial statements and may materially affect our financial results in the period or periods for which such determination is made.

Effects of anti-takeover provisions could inhibit the acquisition of Monster Worldwide by others.

Some of the provisions of our certificate of incorporation, bylaws and Delaware law could, together or separately:

• discourage potential acquisition proposals;

• delay or prevent a change in control; and/or

• limit the price that investors might be willing to pay in the future for shares of our Common Stock.

In particular, our Board of Directors may authorize the issuance of up to 800,000 shares of Preferred Stock with rights and privileges that might be senior to our Common Stock, without the consent of the holders of the Common Stock. In addition, our certificate of incorporation and bylaws provide, among other things, for advance notice of stockholder proposals and director nominations.

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There is volatility in our stock price.

The market for our Common Stock has, from time to time, experienced extreme price and volume fluctuations. Factors such as announcements of variations in our quarterly financial results and fluctuations in revenue could cause the market price of our Common Stock to fluctuate significantly. In addition, the stock market in general, and the market prices for Internet-related companies in particular, have experienced volatility that often has been unrelated to the operating performance of such companies. These broad market and industry fluctuations may adversely affect the price of our stock, regardless of our operating performance. Additionally, volatility or a lack of positive performance in our stock price may adversely affect our ability to retain key employees, many of whom have been granted equity compensation.

The market price of our Common Stock can be influenced by stockholders’ expectations about the ability of our business to grow and to achieve certain profitability targets. If our financial performance in a particular quarter does not meet the expectations of our stockholders, it may adversely affect their views concerning our growth potential and future financial performance and, therefore, result in a drop in the market price of our Common Stock. In addition, if the securities analysts who regularly follow our Common Stock lower their ratings of our Common Stock, the market price of our Common Stock is likely to drop significantly.

We face risks associated with government regulation.

The application of existing laws and regulations to our websites relating to issues such as user privacy, security of data, defamation, advertising, taxation, promotions, content regulation, and intellectual property ownership and infringement can be unclear. In addition, we will also be subject to new laws and regulations directly applicable to our activities. Any existing or new legislation applicable to us could expose us to substantial liability, including significant expenses necessary to comply with such laws and regulations, and dampen growth in Internet usage.

The federal CAN-SPAM Act and state anti-spam laws impose certain requirements on the use of e-mail. The implications of these laws have not been fully tested. Portions of our business rely on e-mail to communicate with consumers on our behalf and for our customers. We may face risk if our use of e-mail is found to violate the federal law or applicable state law.

We post our privacy policy and practices concerning the use and disclosure of user data on our websites. Any failure by us to comply with our posted privacy policy or other privacy-related laws and regulations could result in proceedings which could potentially harm our business, results of operations and financial condition. In this regard, there are a large number of legislative proposals before the United States Congress, various state legislative bodies as well as various European Union institutions, bodies and agencies regarding privacy issues related to our business. It is not possible to predict whether or when such legislation may be adopted, and certain proposals, if adopted, could significantly harm our business, financial condition and results of operations through a decrease in user registrations and revenues. This could be caused by, among other possible provisions, the required use of disclaimers or other requirements before users can utilize our services.

Due to the global nature of the Internet, it is possible that the governments of other states and foreign countries might attempt to regulate its transmissions or prosecute us for violations of their laws. We might unintentionally violate such laws or such laws may be modified and new laws may be enacted in the future. Any such developments (or developments stemming from enactment or modification of other laws) may significantly harm our business, operating results and financial condition.

Legal proceedings may significantly harm our business.

From time to time, we may become involved in litigation or other proceedings in the ordinary course of business. It is possible that such litigation or proceedings may significantly harm our future results of operations or financial condition due to expenses we may incur to defend ourselves or the ramifications of an adverse decision.

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Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our business to pay our substantial debt.

On October 22, 2014, the Company consummated an offering of $143.8 million aggregate principal amount of its 3.50% convertible senior notes due 2019 (the “Notes”). On October 31, 2014, the Company amended and restated its existing credit facility pursuant to a Third Amended and Restated Credit Agreement, which increased the quarterly amortization payments required with respect to the term loans under our credit facility. Our ability to make scheduled payments of the principal of, to pay interest on, or to refinance our indebtedness, including the Notes and the loans and letters of credit under our credit facility, depends on our future performance, which is subject to economic, financial, competitive and other factors beyond our control. Our business may not continue to generate cash flow from operations in the future sufficient to service our debt and make necessary capital expenditures. If we are unable to generate such cash flow, we may be required to adopt one or more alternatives, such as selling assets, restructuring debt or obtaining additional equity capital on terms that may be onerous or highly dilutive. Our ability to refinance our indebtedness will depend on the capital and credit markets and our financial condition at such time. We may not be able to engage in any of these activities or engage in these activities on desirable terms, which could result in a default on our debt obligations.

We may not have the ability to raise the funds necessary to settle conversions of the Notes or to repurchase the Notes upon a fundamental change, and our future debt may contain limitations on our ability to pay cash upon conversion or repurchase of the Notes.

Holders of the Notes have the right to require us to repurchase their Notes upon the occurrence of a fundamental change at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any. In addition, upon any conversion of the Notes prior to our receipt of stockholder approval to issue upon conversion of the Notes more than 19.99% of the outstanding shares of Common Stock, we will be required to make cash payments in respect of the Notes being converted. Upon any conversion of the Notes following our receipt of stockholder approval, unless we elect to deliver solely shares of our common stock to settle such conversion (other than paying cash in lieu of delivering any fractional share), we will be required to make cash payments in respect of the Notes being converted. However, we may not have enough available cash or be able to obtain financing at the time we are required to make repurchases of Notes surrendered or Notes being converted. In addition, our ability to repurchase the Notes or to pay cash upon conversions of the Notes may be limited by law, by regulatory authority or by agreements governing our future indebtedness. Our failure to repurchase Notes at a time when the repurchase is required by the indenture or to pay any cash payable on future conversions of the Notes as required by the indenture would constitute a default under the indenture. A default under the indenture or the fundamental change itself could also lead to a default under agreements governing our future indebtedness. If the repayment of the related indebtedness were to be accelerated after any applicable notice or grace periods, we may not have sufficient funds to repay the indebtedness and repurchase the notes or make cash payments upon conversions thereof.

The conditional conversion feature of the Notes, if triggered, may adversely affect our financial condition and operating results.

In the event the conditional conversion feature of the Notes is triggered, holders of Notes will be entitled to convert the Notes at any time during specified periods at their option. If one or more holders elect to convert their Notes, unless (following our receipt of stockholder approval) we elect to satisfy our conversion obligation by delivering solely shares of our common stock (other than paying cash in lieu of delivering any fractional share), we would be required to settle a portion or all of our conversion obligation through the payment of cash, which could adversely affect our liquidity. In addition, even if holders do not elect to convert their Notes, we could be required under applicable accounting rules to reclassify all or a portion of the outstanding principal of the Notes as a current rather than long-term liability, which would result in a material reduction of our net working capital.

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The accounting method for convertible debt securities that may be settled in cash, such as the Notes, is the subject of recent changes that could have a material effect on our reported financial results.

Under ASC 470-20, Debt with Conversion and Other Options, an entity must separately account for the liability and equity components of the convertible debt instruments (such as the Notes) that may be settled entirely or partially in cash upon conversion in a manner that reflects the issuer’s economic interest cost. The effect of ASC 470-20 on the accounting for the Notes is that the equity component is required to be included in the additional paid-in capital section of stockholders’ equity on our consolidated balance sheet, and the value of the equity component would be treated as original issue discount for purposes of accounting for the debt component of the Notes. As a result, we will be required to record a greater amount of non-cash interest expense in current periods presented as a result of the amortization of the discounted carrying value of the Notes to their face amount over the term of the Notes. We will report lower net income in our financial results because ASC 470-20 will require interest to include both the current period’s amortization of the debt discount and the instrument’s coupon interest, which could adversely affect our reported or future financial results, the trading price of our common stock and the trading price of the Notes. In addition, under certain circumstances, convertible debt instruments (such as the Notes) that may be settled entirely or partly in cash are currently accounted for utilizing the treasury stock method, the effect of which is that the shares issuable upon conversion of the Notes are not included in the calculation of diluted earnings per share except to the extent that the conversion value of the Notes exceeds their principal amount. Under the treasury stock method, for diluted earnings per share purposes, the transaction is accounted for as if the number of shares of common stock that would be necessary to settle such excess, if we elected to settle such excess in shares, are issued. We cannot be sure that the accounting standards in the future will continue to permit the use of the treasury stock method. If we are unable to use the treasury stock method in accounting for the shares issuable upon conversion of the Notes, then our diluted earnings per share would be adversely affected.

Future conversion of the Notes may limit our ability to utilize our tax attribute carryovers.

Utilization of net operating loss and tax credit carry-forwards may be subject to annual limitations due to the ownership change limitations provided by the United States Internal Revenue Code. If an annual limitation is triggered by an ownership change, it could result in the expiration of carryover attributes before their utilization. The events that may cause ownership changes include, but are not limited to, a cumulative stock ownership change of greater than 50% over a three year period. If one or more holders elect to convert their Notes, and (following our receipt of stockholder approval) we elect to satisfy our conversion obligation by delivering solely shares of our common stock (other than paying cash in lieu of delivering any fractional share), that conversion of the Notes to shares may contribute to such a cumulative ownership change.

ITEM 1B. UNRESOLVED STAFF COMMENTS

None.

ITEM 2. PROPERTIES

Our principal executive offices are located in Weston, Massachusetts, where we occupy approximately 174,000 square feet of leased space, which is our largest office space. We also lease additional facilities in the United States in: New York, New York; Bedford, Massachusetts; Boston, Massachusetts; Chicago, Illinois; Florence, South Carolina; Indianapolis, Indiana; Los Angeles, California; McLean, Virginia; Milwaukee, Wisconsin; Mountain View, California; San Francisco, California; Tempe, Arizona; and Washington, D.C. Our domestic properties are used generally by our Careers-North America and Internet Advertising & Fees segments.

We also maintain leased facilities internationally in: Austria; Belgium; Canada; Czech Republic; France; Germany; Hong Kong; India; Ireland; Italy; Luxembourg; Malaysia; the Netherlands; Norway; the Republic of Korea; Singapore; Spain; Sweden; Switzerland; United Arab Emirates and the United Kingdom. Our international properties are used generally by our Careers-International segment.

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We also operate data centers in the United States, Europe and Asia pursuant to various lease and co-location arrangements.

We consider our leased space to be adequate for the operation of our business, and we do not foresee any difficulties in meeting any future space requirements.

ITEM 3. LEGAL PROCEEDINGS

The Company is involved in various legal proceedings that are incidental to the conduct of its business. Aside from the matters discussed below, the Company is not involved in any pending or threatened legal proceedings that it believes could reasonably be expected to have a material adverse effect on its financial condition or results of operations.

In September 2013, Career Destination Development, LLC filed suit against the Company for allegedly infringing certain patents, U.S. Patent No. 7,424,438 (the “438 Patent”) and U.S. Patent No. 8,374,901 (the “901 Patent”), relating to methods for the online searching of jobs. The lawsuit, entitled Career Destination Development, LLC vs. Monster Worldwide, Inc. (Civil Action No. 13-cv-2423), was brought in the United States District Court for the District of Kansas. The Plaintiff sought injunctive relief, monetary damages, pre and post judgment interest, and other costs. On October 10, 2013, the Company filed an answer denying the allegations set forth in the complaint. On February 12, 2014, Monster filed two separate petitions in the United States Patent and Trademark Office (“USPTO”) for covered business method (“CBM”) review of the ‘901 Patent, and the USPTO subsequently assigned case numbers CBM2014-00069 and CBM2014-00070 to these petitions for CBM review of the ‘901 Patent. On February 12, 2014 and February 21, 2014, Monster also filed petitions in the USPTO for CBM review of the ‘438 Patent, and the USPTO subsequently assigned case numbers CBM2014-00068 and CBM2014-00077 to the petitions for review of the ‘438 Patent. On March 14, 2014, the District Court for the District of Kansas granted Monster’s motion to stay Civil Action No. 13-cv-2423 pending the aforementioned CBM reviews of the ‘438 and ‘901 Patents. On November 28, 2014, the parties entered into a settlement agreement whereby all claims would be dismissed with prejudice and the petitions filed with the USPTO would be withdrawn. By Order of the Court dated November 25, 2014, the action was dismissed with prejudice.

In April 2014, Selene Communication Technologies LLC filed suit against the Company for allegedly infringing a certain patent relating to methods for generating search queries. The lawsuit, entitled Selene Communication Technologies LLC vs. Monster Worldwide, Inc. (Civil Action No.14-cv-434) was brought in the United States District Court for the District of Delaware. The Plaintiff sought injunctive relief, monetary damages, pre and post judgment interest and other costs. On June 13, 2014, the Company filed an answer denying the allegations set forth in the complaint. On October 29, 2014, the parties entered into a settlement agreement whereby all claims would be voluntarily dismissed with prejudice. By Order of the Court dated November 17, 2014, the action was dismissed with prejudice.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

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PART II

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information

Our Common Stock is listed on the New York Stock Exchange under the symbol “MWW.”

As of January 31, 2015, the last reported sale price of our Common Stock as reported by the New York Stock Exchange was $4.13. The following table sets forth for the indicated periods the high and low sales prices per share for our Common Stock on the New York Stock Exchange.

2014	High		Low
First Quarter	$	8.50	$	5.62
Second Quarter	$	7.73	$	5.33
Third Quarter	$	7.03	$	5.33
Fourth Quarter	$	5.55	$	3.41
2013	High		Low
First Quarter	$	6.08	$	4.94
Second Quarter	$	5.70	$	4.02
Third Quarter	$	6.01	$	4.22
Fourth Quarter	$	7.30	$	4.03

Holders

As of January 31, 2015, there were approximately 1,040 stockholders of record of our Common Stock, although we believe that there are a significantly larger number of beneficial owners.

Dividends

We have never declared or paid any cash dividends on our stock, and we do not anticipate paying cash dividends in the foreseeable future. The payment of any future dividends, if any, will be at the discretion of our Board of Directors and will depend upon, among other things, future earnings, operations, capital requirements, our general financial condition, contractual restrictions and general business conditions. Our credit agreement restricts, in certain circumstances, the payment of dividends on our stock.

Securities Authorized for Issuance Under Equity Compensation Plans

Please see our disclosure in Part III, Item 12 in this report on Form 10-K

Stock Performance Graph

The following performance graph and related information shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act or the Exchange Act.

The following graph compares the cumulative total return of the Company’s Common Stock during the period commencing December 31, 2009 to December 31, 2014, with the S&P 500 Index and the RDG Internet Composite Index. The graph depicts the results of investing $100 in the Company’s Common Stock, the S&P 500 Index and the RDG Internet Composite Index at closing prices on December 31, 2009 and assumes, with respect to the S&P 500 Index and the RDG Internet Composite Index, that all dividends were reinvested. The Company has never declared or paid any cash dividends on its stock. Such returns are based on historical results and are not intended to suggest future performance.

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Comparison of Five Year Cumulative Total Return

Among Monster Worldwide, Inc., The S&P 500 Index

and The RDG Internet Composite Index

Issuance of Unregistered Securities

On September 30, 2014, the Company issued a total of 12,687 shares of our common stock to an employee and a consultant, in consideration for services under an employment agreement and a consulting agreement entered into as part of a prior business combination. The securities were issued pursuant to the exemption contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

Issuer Purchases of Equity Securities

On April 30, 2013, the Board of Directors of the Company authorized a share repurchase program of up to $200 million. Under the share repurchase program, shares of common stock will be purchased on the open market or through privately negotiated transactions from time-to-time through April 30, 2015. The timing and amount of purchases will be based on market conditions, corporate and legal requirements and other factors. The share repurchase program does not obligate the Company to acquire any specific number of shares in any period, and may be modified, suspended, extended or discontinued at any time without prior notice. During the year ended December 31, 2014, the Company repurchased 7,125,988 shares for a total of $51.9 million, excluding commissions, at an average price of $7.29 per share. No shares repurchases were made in the fourth quarter of 2014. From the date of the inception of this repurchase program through December 31, 2014, the Company repurchased 27,717,428 shares for a total of $158.7 million, excluding commissions, at an average price of $5.73 per share. The Company currently has $41.3 million remaining under this repurchase program.

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ITEM 6. SELECTED FINANCIAL DATA

The following tables present selected financial data for the five years ended December 31, 2014, excluding discontinued operations from continuing operations. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” found in Item 7 of this report, for information regarding business acquisitions, discontinued operations, critical accounting policies and items affecting comparability of the amounts below.

MONSTER WORLDWIDE, INC.

SELECTED STATEMENT OF OPERATIONS DATA

(In thousands, except per share amounts)

	Year Ended December 31,
	2014			2013			2012			2011			2010
Revenue	$	770,013		$	807,579		$	890,392		$	993,644		$	874,923
Salaries and related, office, general, marketing and promotion		766,509			754,393			817,882			895,162			893,433
Restructuring and other special charges		—			19,995			40,358			4,715			—
Goodwill impairment		325,800			—			—			—			—
Total operating expenses		1,092,309			774,388			858,240			899,877			893,433
Operating (loss) income		(322,296	)		33,191			32,152			93,767			(18,510	)
(Loss) income from continuing operations		(283,807	)		3,509			58,166			66,050			(14,787	)
Loss from discontinued operations, net of tax		—			(3,798	)		(316,886	)		(12,253	)		(17,572	)
Net (loss) income		(283,807	)		(289	)		(258,720	)		53,797			(32,359	)
Net income attributable to noncontrolling interest		5,482			193			—			—			—
Net (loss) income attributable to Monster Worldwide, Inc.	$	(289,289	)	$	(482	)	$	(258,720	)	$	53,797		$	(32,359	)
*Basic (loss) earnings per share attributable to Monster Worldwide, Inc.:
(Loss) income from continuing operations	$	(3.29	)	$	0.03		$	0.52		$	0.54		$	(0.12	)
Loss from discontinued operations, net of tax		—			(0.04	)		(2.81	)		(0.10	)		(0.15	)
Basic (loss) income per share	$	(3.29	)	$	—		$	(2.29	)	$	0.44		$	(0.27	)
*Diluted (loss) earnings per share attributable to Monster Worldwide, Inc.:
(Loss) income from continuing operations	$	(3.29	)	$	0.03		$	0.51		$	0.53		$	(0.12	)
Loss from discontinued operations, net of tax		—			(0.04	)		(2.78	)		(0.10	)		(0.15	)
Diluted (loss) income per share	$	(3.29	)	$	—		$	(2.27	)	$	0.43		$	(0.27	)

* Earnings per share may not add in certain periods due to rounding

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SELECTED BALANCE SHEET DATA ^(a)

(In thousands)

	At December 31,
	2014		2013		2012		2011		2010
Total current assets	$	460,146	$	504,065	$	579,653	$	675,932	$	585,371
Total current liabilities		469,314		518,837		584,980		782,963		686,824
Total assets		1,217,151		1,586,257		1,684,865		2,057,998		1,978,002
Long-term debt, net, less current portion		201,821		125,900		145,975		—		40,000
Current portion of long-term debt		9,563		9,375		18,264		188,836		84,500
Noncontrolling interest in subsidiary		54,247		54,474		—		—		—
Total stockholders’ equity	$	474,745	$	844,145	$	880,039	$	1,164,127	$	1,128,650

(a) For December 31, 2014, December 31, 2013 and December 31, 2012, the assets and liabilities of discontinued operations, where applicable, are included in total current assets and total current liabilities, respectively.

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ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

We make forward-looking statements in this report and in other reports and proxy statements that we file with the Securities and Exchange Commission (the “SEC”). Except for historical information contained herein, the statements made in this report constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Such forward-looking statements involve certain risks and uncertainties, including statements regarding our strategic direction, prospects and future results. Certain factors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward-looking statements. These factors include, among other things, the global economic and financial market environment; risks associated with cuts in government spending; risks relating to our foreign operations; risks relating to the European debt crisis and market perceptions concerning the instability of the euro; our ability to maintain and enhance the value of our brands, particularly Monster; competition; risks related to our new strategy; fluctuations in our quarterly operating results; our ability to adapt to rapid developments in technology; our ability to continue to develop and enhance our information technology systems; concerns related to our privacy policies and our compliance with applicable data protection laws and regulations; intrusions on our systems; interruptions, delays or failures in the provision of our services; our vulnerability to intellectual property infringement claims brought against us by others; our ability to protect our proprietary rights and maintain our rights to use key technologies of third parties; the risk that acquisitions or partnerships may not achieve the expected benefits to us; our ability to attract and retain talented employees, including senior management; potential write-downs if our goodwill or amortizable intangible assets become impaired; adverse determinations by domestic and/or international taxation authorities related to our estimated tax liabilities; effects of anti-takeover provisions in our organizational documents that could inhibit the acquisition of Monster Worldwide by others; volatility in our stock price; risks associated with government regulation; the outcome of litigation we may become involved in from time to time; risks associated with our convertible senior notes due 2019; and other risks and uncertainties set forth from time to time in our reports and other filings made with the SEC, including under Part I, “ Item 1A. Risk Factors” of this report.

OVERVIEW

Business

Monster Worldwide, Inc. (together with its consolidated subsidiaries, the “Company,” “Monster,” “Monster Worldwide,” “we,” “our” or “us”) is a global leader in connecting people to jobs, wherever they are. For more than 20 years, Monster has helped people improve their lives with better jobs, and employers find the best talent. Today, the Company offers services in more than 40 countries, providing some of the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities. Monster continues its pioneering work of transforming the recruiting industry with advanced technology using intelligent digital, social and mobile solutions, including our flagship website monster.com^® and a vast array of products and services.

The Company’s services and solutions include: searchable job advertisements; resume database access; recruitment media solutions through its advertising network and partnerships; Twitter Cards and social job distribution; social profile aggregation; and other career-related content. Job seekers can search job advertisements and post their resumes for free on each of our career websites and mobile applications. Employers pay to: advertise available jobs and recruitment related services; search the Monster resume and social profile databases; and access other career-related services.

In May 2014, Monster revealed its “All the People, All the Jobs” strategy to drive the business and enhance its competitive position. Monster’s new strategy focuses on adding massive scale to its business to expand its total addressable market and the value it can provide to customers through a variety of new products, technologies and business models to successfully connect more people with more jobs.

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To enhance the scale of its business, the Company is dramatically expanding the number of jobs it offers, collecting jobs content from both traditional and social sources to ensure that employers can reach the right candidates, at the right time and place, with the right opportunities. Monster has grown the number of jobs available across its network from 250,000 in the U.S. in January 2014 to over 4 million today. This represents a vast increase in the volume of jobs, which is poised to grow with further international rollout.

As part of the new strategy, the Company is expanding its job advertising distribution beyond the traditional placement on its own network of sites and its Career Ad Network^® to include expanded social distribution. Monster Twitter Cards was launched in the U.S. on July 1, 2014 and in our Tier 1 countries in Europe and in Canada in October 2014. Monster Twitter Cards moves beyond the limitations of a standard Tweet to boost an employer’s integrated social recruiting strategy by automatically Tweeting jobs throughout the day to a company’s or recruiter’s Twitter feed. Monster Twitter Cards provides recruiters with a simple, turn-key way to more effectively message job openings, and drive additional reach, engagement and interaction with individuals on the Twitter platform. Monster Social Ads uses Twitter’s Ads API to provide the first fully automated social recruiting job ad solution featuring additional new targeting from Monster’s proprietary social candidate search capabilities. Monster Social Ads expands the distribution of Twitter Card-based job ads to directly reach potential candidates on Twitter based on career attributes such as occupation or industry type, something previously not possible for recruiters. The Company also plans to add multiple pricing models to its job advertising business, including duration and pay-per-click options which will roll-out in the U.S. and our Tier 1 countries in Europe in the first and second quarters of 2015, respectively. This will create a significant opportunity to serve millions of new customers who seek variable job ad pricing.

Monster is also vastly increasing the number of candidates it delivers for search. With the recent acquisition of TalentBin^®, the Company now provides recruiters access to over 130 million candidate profiles aggregated from social sources across the Web, in addition to Monster’s own proprietary database of 25 million searchable resumes. This approach surfaces the truly passive candidates who are not actively seeking a new job. TalentBin by Monster was launched in the U.S. on July 1, 2014 and launched in our Tier 1 countries in Europe and in Canada in October 2014, and is expected to launch in our Tier 2 countries in Europe in early 2015. By harnessing the vast amount of professionally relevant information people share across the social web, TalentBin by Monster surfaces potential job candidates by assembling profiles using current professional activities from relevant sites. By making sense of candidate social activity, and compiling those details into a rich professional profile complete with contact information, recruiters now can find many previously undiscoverable candidates—including those not actively seeking a new job.

Monster offers the unique 6Sense^® semantic search technology to allow job seekers and employers to quickly find a precise match. 6Sense technology transforms traditional keyword-based processes by assisting our customers in matching candidates to their required job specifications. For seekers, 6Sense powered job search has changed how they explore, find and apply for jobs. Monster introduced a cloud-based search product SeeMore^® in the third quarter of 2011, which allows customers to utilize patented semantic search technology on their own talent databases. Further, the Monster Career Ad Network^®, continues to be the largest recruitment-focused advertising network on the Internet, reaching an average of more than 100 million users globally across thousands of websites.

As an additional part of its strategy, Monster developed a commercial talent platform called Monster Talent CRM that can provide end-to-end sourcing or be integrated as components into existing recruiting workflows. Monster Talent CRM was deployed in the U.S. on July 1, 2014 and in our Tier 1 countries in Europe and in Canada in October 2014, and is expected to launch in our Tier 2 countries in early 2015. Monster Talent CRM is a self-service campaign and messaging platform that utilizes the same capabilities as Monster Power Resume Search^® technology to identify, source and create campaigns for recruiters and uses integrated CRM toolsets to create one-to-one or one-to-many recruiting campaigns against them.

Monster also operates a government solutions business, Monster Government Solutions (“MGS”), which sells software solutions to federal, state and local governments and educational institutions within the U.S. and the

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United Kingdom. MGS provides recruitment solutions that engage seekers and employers online, enable MGS customers to attract qualified candidates, expedite time to hire and create online communities using innovative technologies and services. These services primarily include customized career sites hosted by MGS utilizing a “Software as a Service” (“SaaS”) model. Additionally, Monster offers customers applicant tracking services, diversity offerings and other ancillary services either directly or through alliances to meet the changing needs of customers.

Monster’s Internet Advertising & Fees business operates a network of websites that connect companies to highly targeted audiences at critical stages in their lives. The Company’s goal is to offer compelling online services for the users of such websites through personalization, community features and enhanced content. This web traffic is monetized through display advertising and lead generation. The Company believes that these properties appeal to advertisers and other third parties as they deliver certain discrete demographics entirely online.

Monster operates in an industry and in markets that are continually evolving with the entrance of new competitors and the changing needs of seekers and employers. The Company adjusts its product offerings and makes new investments in its technology platform in order to meet the challenges presented by the market evolution. The Company believes its “All the People All the Jobs” strategy addresses this market evolution and positions Monster to achieve long-term growth while controlling the growth of operating expenses.

Recent Developments

“Reallocate to Accelerate”

On February 10, 2015, the Company committed to take a series of cost savings initiatives to reduce costs globally while continuing to support the Company’s new strategy. The initiatives currently include a global workforce reduction of approximately 300 associates, or 7% of its full-time staff, consolidation of certain office facilities, and continuing discretionary-spending and office and general expense controls. The Company expects these reductions, currently anticipated to be completed by the end of 2015, to result in annualized savings of approximately $38 million to $45 million. The full impact of the savings will be realized beginning in the fourth quarter of 2015. As a result of these initiatives, the Company expects to record a cumulative pre-tax charge within the range of $18 million to $23 million, all of which is expected to be cash expenditures. The majority of the associated charges are expected to be recorded in the first half of 2015.

Leadership Changes

On November 4, 2014, the Company announced that Timothy Yates, a Director of Monster and formerly its Executive Vice President and Chief Financial Officer, had been appointed President and Chief Executive Officer. Monster also announced that effective November 4, 2014, Mark Stoever, Executive Vice President, Corporate Development and Internet Advertising, had been appointed Executive Vice President and Chief Operating Officer of the Company.

Effective November 4, 2014, Salvatore Iannuzzi resigned as Chief Executive Officer and President of the Company, while continuing to serve as Non-Executive Chairman of the Board of Directors of the Company. On February 10, 2015, Mr. Iannuzzi resigned as Non-Executive Chairman of the Board of Directors and as a director of the Company, effective immediately. Such resignation is not as a result of any disagreement with the Company with respect to the Company’s operations, policies or practices. Pursuant to a letter agreement between Mr. Iannuzzi and the Company, dated November 3, 2014, Mr. Iannuzzi will remain an employee of the Company until June 30, 2015 to facilitate an orderly transition.

Constant Currency Presentation

Revenue from our international operations has historically represented, and we expect will continue to represent, a significant portion of our business. As a result, our revenue growth has been impacted, and we expect will

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continue to be impacted, by fluctuations in foreign currency exchange rates. For 2014, in order to provide a framework for assessing how our consolidated and Careers-International operating results performed excluding the impact of foreign currency fluctuations, we additionally present the year-over-year percentage changes on a constant currency basis, which assumes no change in the exchange rate from the prior-year period. This constant currency is provided in addition to, and not as a substitute for, the year-over-year percentage changes on an as-reported basis. For 2013, we elected not to use a constant currency presentation for the year-over-year comparisons as foreign currency fluctuations were not material to the comparability of our results of operations.

RESULTS OF OPERATIONS

Consolidated operating results as a percent of revenue, excluding discontinued operations, for the years ended December 31, 2014, 2013 and 2012 are as follows:

	The year ended December 31,
	2014			2013			2012
Revenue		100.0	%		100.0	%		100.0	%
Salaries and related		53.7	%		47.0	%		45.9	%
Office and general		26.9	%		25.4	%		25.4	%
Marketing and promotion		19.0	%		21.0	%		21.2	%
Restructuring and other special charges		0.0	%		2.5	%		4.5	%
Goodwill impairment		42.3	%		0.0	%		0.0	%
Recovery of restitution award from former executive		0.0	%		0.0	%		(0.6	%)
Total operating expenses		141.9	%		95.9	%		96.4	%
Operating (loss) income		(41.9	%)		4.1	%		3.6	%
Gain on deconsolidation of subsidiaries, net		1.5	%		0.0	%		0.0	%
Interest and other, net		(1.1	%)		(0.7	%)		(0.7	%)
(Loss) income before income taxes and loss in equity interests		(41.4	%)		3.4	%		3.0	%
(Benefit from) provision for income taxes		(4.6	%)		2.8	%		(3.7	%)
Loss in equity interests, net		0.0	%		(0.1	%)		(0.1	%)
(Loss) income from continuing operations		(36.9	%)		0.4	%		6.5	%

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The following presentation of our segment results is prepared based on the criteria we use when evaluating the performance of our business units.

The Year Ended December 31, 2014 Compared to the Year Ended December 31, 2013

Consolidated Revenue, Operating Expenses and Operating (Loss) Income

Consolidated revenue, operating expenses and operating (loss) income for the years ended December 31, 2014 and 2013 are as follows (dollars in thousands):

	The year ended December 31,
	2014			% of Revenue			2013		% of Revenue			Increase (Decrease)			% Increase (Decrease)
Revenue	$	770,013			100.0	%	$	807,579		100.0	%	$	(37,566	)		(4.7	%)
Salaries and related		413,143			53.7	%		379,406		47.0	%		33,737			8.9	%
Office and general		206,974			26.9	%		205,397		25.4	%		1,577			0.8	%
Marketing and promotion		146,392			19.0	%		169,590		21.0	%		(23,198	)		(13.7	%)
Restructuring and other special charges		—			0.0	%		19,995		2.5	%		(19,995	)		(100.0	%)
Goodwill impairment		325,800			42.3	%		—		0.0	%		325,800			na
Total operating expenses		1,092,309			141.9	%		774,388		95.9	%		317,921			41.1	%
Operating (loss) income	$	(322,296	)		(41.9	%)	$	33,191		4.1	%	$	(355,487	)		(1071.0	%)
EBITDA	$	88,504			11.5	%	$	123,053		15.2	%		(34,549	)		(28.1	%)
Adjusted EBITDA	$	101,207			13.1	%	$	140,653		17.4	%	$	(39,446	)		(28.0	%)

Our consolidated revenue decreased by $37.6 million (4.7%, 4.8% on a constant currency basis) in 2014 compared to 2013. Our Careers-North America segment experienced a $9.3 million (2.1%) decrease primarily due to declines in the government vertical. Our Careers-International segment decreased $19.6 million (6.8%, 7.5% on a constant currency basis) due to the continued challenging economic environment in certain countries in Europe and Asia. Our Internet Advertising & Fees segment experienced a decrease of $8.7 million (11.9%) due to a reduction of revenue from display advertising business activities as we optimize seeker experience on Monster for maximum quality applies. We are pleased with the bookings performance in the second half of 2014, particularly in our Careers-North America segment, and expect these trends to continue into 2015.

Salaries and related expenses increased $33.7 million (8.9%, 8.8% on a constant currency basis), in the 2014 compared to 2013. This increase in salaries and related expenses resulted primarily from increased regular salary costs resulting from headcount additions in the Company’s quota-bearing sales force as part of the new strategy, charges associated with the resignation of our former Chief Executive Officer and President, effective November 4, 2014, as well as increased stock based compensation expense.

Office and general expenses remained relatively flat when comparing 2014 to 2013 on both an as-reported and constant currency basis.

Marketing and promotion expenses decreased $23.2 million (13.7%, 14.0% on a constant currency basis) in 2014 compared to 2013. Beginning in 2012, the Company evolved its marketing approach to efficiently drive improved site traffic. The Company believes that these marketing initiatives have resulted in a build-up of relevant traffic to monster.com and our affiliate sites.

The Company incurred $20.0 million of restructuring and other special charges in 2013, comprised primarily of costs associated with severance, exiting office facilities and other asset write downs as a result of our restructuring program which was announced in November 2012. No charges were incurred in 2014 relating to this program.

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In the fourth quarter of 2014, primarily due to the decline of our market capitalization and the implications such decline had on the carrying value of our goodwill, management concluded that the carrying amount of goodwill exceeded its estimated fair value for both its Careers-North America and Internet Advertising & Fees reporting units. As a result, the Company recorded a pre-tax goodwill impairment charge of $325.8 million during the fourth quarter of 2014 ($263.0 million and $62.8 million in the Careers-North America and Internet Advertising & Fees segments, respectively). See Note 5 – Goodwill and Intangible Assets of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for details.

Our consolidated operating loss was $322.3 million in 2014, compared to operating income of $33.2 million in 2013, as a result of the factors discussed above.

Our consolidated EBITDA and Adjusted EBITDA was $88.5 million and $101.2 million, respectively, in 2014, compared to consolidated EBITDA and Adjusted EBITDA of $123.1 million and $140.7 million, respectively, in 2013, as a result of the factors discussed above. See Reconciliation of Non-GAAP Financial Measures to GAAP Measures following the discussion of our results of operations for definitions and a reconciliation from our operating (loss) income to EBITDA and Adjusted EBITDA.

Careers-North America

The operating results of our Careers-North America segment for the years ended December 31, 2014 and 2013 are as follows (dollars in thousands):

	The year ended December 31,
	2014			% of Revenue			2013		% of Revenue			Increase (Decrease)			% Increase (Decrease)
Revenue	$	436,946			100.0	%	$	446,274		100.0	%	$	(9,328	)		(2.1	%)
Salaries and related		196,784			45.0	%		179,176		40.1	%		17,608			9.8	%
Office and general		101,367			23.2	%		97,791		21.9	%		3,576			3.7	%
Marketing and promotion		74,089			17.0	%		94,761		21.2	%		(20,672	)		(21.8	%)
Restructuring and other special charges		—			0.0	%		9,537		2.1	%		(9,537	)		(100.0	%)
Goodwill impairment		263,000			60.2	%		—		0.0	%		263,000			na
Total operating expenses		635,240			145.4	%		381,265		85.4	%		253,975			66.6	%
Operating (loss) income	$	(198,294	)		(45.4	%)	$	65,009		14.6	%	$	(263,303	)		(405.0	%)

Our Careers—North America segment revenue decreased $9.3 million (2.1%) in 2014 compared to 2013. The decrease in the Careers-North America segment is primarily due to declines in the government vertical, partially offset by increased business activity from our ecommerce, recruitment media, newspaper and staffing sectors. We have been pleased with the booking performance in the second half of 2014, with nearly all verticals, excluding government, increasing year over year.

Salaries and related expenses increased $17.6 million (9.8%) in 2014 compared to 2013. This increase in salaries and related expenses resulted primarily from $11.6 million of increased regular salary costs resulting from headcount additions in the Company’s quota-bearing sales force and other selective headcount additions as part of the new strategy, as well as $1.4 million of increased stock based compensation expense.

Office and general expenses increased $3.6 million (3.7%) in 2014 compared to 2013. This increase in office and general expenses resulted primarily from $6.2 million in charges related to exited facilities, an increase of $2.1 million resulting from additional costs to support our new product portfolio, and an impairment charge of $1.0 million on an indefinite-lived intangible asset recognized in the fourth quarter of 2014. These increases were partially offset by $5.4 million of decreased amortization expense resulting from the amortization period of certain intangible assets associated with a previous acquisition ending in the third quarter of 2013.

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Marketing and promotion expenses decreased $20.7 million (21.8%) in 2014 compared to 2013. Beginning in 2012, the Company evolved its marketing approach to efficiently drive improved site traffic. The Company believes that these investments and marketing initiatives have resulted in a build-up of relevant traffic to monster.com and our affiliate sites.

Our Careers-North America segment incurred $9.5 million of restructuring and other special charges in 2013, comprised primarily of costs associated with severance, exiting office facilities and other asset write downs as a result of our restructuring program announced in November 2012. No charges were incurred in 2014 relating to this program.

In the fourth quarter of 2014, primarily due to the decline of our market capitalization and the implications such decline had on the carrying value of our goodwill, management concluded that the carrying amount of goodwill exceeded its estimated fair value for its Careers-North America reporting unit. As a result, the Company recorded a pre-tax goodwill impairment charge of $263.0 million in our Careers-North America segment during the fourth quarter of 2014. See Note 5—Goodwill and Intangible Assets of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for details.

Our Careers—North America operating loss was $198.3 million in 2014, compared to operating income of $65.0 million in 2013, as a result of the factors described above.

Careers-International

The operating results of our Careers-International segment for the years ended December 31, 2014 and 2013 are as follows (dollars in thousands):

	The year ended December 31,
	2014			% of Revenue			2013			% of Revenue			Increase (Decrease)			% Increase (Decrease)
Revenue	$	269,064			100.0	%	$	288,623			100.0	%	$	(19,559	)		(6.8	%)
Salaries and related		155,319			57.7	%		151,371			52.4	%		3,948			2.6	%
Office and general		76,160			28.3	%		80,878			28.0	%		(4,718	)		(5.8	%)
Marketing and promotion		62,714			23.3	%		67,104			23.2	%		(4,390	)		(6.5	%)
Restructuring and other special charges		—			0.0	%		7,866			2.7	%		(7,866	)		(100.0	%)
Total operating expenses		294,193			109.3	%		307,219			106.4	%		(13,026	)		(4.2	%)
Operating loss	$	(25,129	)		(9.3	%)	$	(18,596	)		(6.4	%)	$	(6,533	)		35.1	%

Our Careers—International segment revenue decreased $19.6 million (6.8%, 7.5% on a constant currency basis) in 2014 compared to 2013 with Europe and Asia decreasing 7.9% and 3.6%, respectively (8.7% and 4.1% on a constant currency basis, respectively). The reductions within Europe related primarily to Germany and the Netherlands in addition to the Eastern European countries no longer being included in our consolidated results due to the new joint venture with Alma Media. Bookings in Europe stabilized in the fourth quarter of 2014, with flat year over year results on a constant currency basis. In Asia, Korea and India showed improving results in the second half of 2014, with both countries showing year over year bookings growth.

Salaries and related expenses increased $3.9 million (2.6%, 2.0% on a constant currency basis) in 2014 compared to 2013. This increase in salaries and related expenses resulted primarily from $2.4 million in increased regular salary costs relating to selective headcount additions as part of the new strategy and increased stock based compensation expense.

Office and general expenses decreased $4.7 million (5.8%, 6.8% on a constant currency basis) in 2014 compared to 2013. This decrease in office and general expenses resulted primarily from $3.7 million of decreased depreciation and amortization expense.

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Marketing and promotion expenses decreased $4.4 million (6.5%, 7.9% on a constant currency basis) in 2014 compared to 2013. The Company continues to focus on targeted investments in key markets in Europe and Asia to drive site traffic and improve brand awareness.

Our Careers-International segment incurred $7.9 million of restructuring and other special charges in 2013, comprised primarily of severance costs as a result of our restructuring program announced in November 2012. No charges were incurred in 2014 relating to this program.

Our Careers-International operating loss was $25.1 million in 2014, compared to an operating loss of $18.6 million in 2013, as a result of the factors discussed above.

Internet Advertising & Fees

The operating results of our Internet Advertising & Fees segment for the years ended December 31, 2014 and 2013 are as follows (dollars in thousands):

	The year ended December 31,
	2014			% of Revenue			2013		% of Revenue			Increase (Decrease)			% Increase (Decrease)
Revenue	$	64,003			100.0	%	$	72,682		100.0	%	$	(8,679	)		(11.9	%)
Salaries and related		26,853			42.0	%		26,590		36.6	%		263			1.0	%
Office and general		13,495			21.1	%		13,666		18.8	%		(171	)		(1.3	%)
Marketing and promotion		9,479			14.8	%		7,593		10.4	%		1,886			24.8	%
Restructuring and other special charges		—			0.0	%		341		0.5	%		(341	)		(100.0	%)
Goodwill impairment		62,800			98.1	%		—		0.0	%		62,800			na
Total operating expenses		112,627			176.0	%		48,190		66.3	%		64,437			133.7	%
Operating (loss) income	$	(48,624	)		(76.0	%)	$	24,492		33.7	%	$	(73,116	)		(298.5	%)

Revenue in our Internet Advertising & Fees segment decreased $8.7 million (11.9%) in 2014 compared to 2013 due to a reduction of revenue from display advertising business activities as we optimize seeker experience on Monster for maximum quality applies.

Marketing and promotion expenses increased $1.9 million (24.8%) in 2014 compared to 2013. This increase in marketing costs is primarily associated with additional costs to increase the audience for our lead generation delivery.

In the fourth quarter of 2014, primarily due to the decline of our market capitalization and the implications such decline had on the carrying value of our goodwill, management concluded that the carrying amount of goodwill exceeded its estimated fair value for its Internet Advertising & Fees reporting unit. As a result, the Company recorded a pre-tax goodwill impairment charge of $62.8 million in our Internet Advertising & Fees segment during the fourth quarter of 2014. See Note 5 —Goodwill and Intangible Assets of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for details.

All other operating expenses remained relatively flat when comparing 2014 to 2013.

Our Internet Advertising & Fees segment’s operating loss was $48.6 million in 2014, compared to operating income of $24.5 million in 2013, as a result of the factors discussed above.

Interest and other, net

Interest and other, net, for the year ended December 31, 2014 and 2013 resulted in an expense of $8.6 million and $5.8 million, respectively. Interest and other, net, primarily relates to interest expense on the Company’s

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outstanding debt, amortization of the debt discount on our 3.50% convertible senior notes due 2019, interest income associated with the Company’s various investments and foreign currency gains or losses.

Gain on deconsolidation of subsidiaries, net

During the first quarter of 2014, the Company deconsolidated its subsidiaries in Poland, Hungary and the Czech Republic and recorded a net gain of $11.8 million thereon. See Note 11 – Deconsolidation of Subsidiaries of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K.

Income taxes

Income taxes for the years ended December 31, 2014 and 2013 are as follows (dollars in thousands):

	The year ended December 31,
	2014			2013			Change in Dollars			Percentage Change
(Loss) income before income taxes and loss in equity interests	$	(319,020	)	$	27,421		$	(346,441	)		(1263.4	%)
(Benefit from) provision for income taxes	$	(35,291	)	$	23,004		$	(58,295	)		(253.4	%)
Effective tax rate		11.1	%		84.0	%

The provision for income taxes consists of provisions for federal, state and foreign income taxes. The Company operates globally with operations in the United States and various tax jurisdictions outside of the United States. Accordingly our tax rate is a composite rate, reflecting the earnings and losses in the various tax jurisdictions and the applicable rates. The federal tax rate in the United States is 35%, and tax rates in foreign countries in which we do business vary from approximately 17% to 35%.

Our effective tax rates differ from the statutory rate due to the impact of state and local income taxes, certain nondeductible expenses, foreign earnings taxed at different tax rates, valuation allowances, the accrual of interest on tax liabilities, and certain other items, as described below, which in 2014 included impairment charges on goodwill that had no tax basis. Our business has experienced a shift in the relative proportion of revenue and income to the United States, and during both 2014 and 2013, the Company has incurred operating losses in certain international markets, particularly Europe. International corporate income tax rates are generally lower than the U.S. tax rates. The shift in the global mix of income towards less international income or increased international losses in countries with lower tax rates than the U.S. has contributed towards an increase in our overall effective tax rate.

Primarily as a result of weakness in certain international markets, the Company has in the past recorded valuation allowances on certain deferred tax assets for international tax net operating loss carryovers. In addition, in 2014 the Company has concluded that it needed to increase the valuation allowance by $16 million due to lowered expectations for the utilization of U.S. foreign tax credit carryovers. The lowered expectations were driven by continued weakness in international markets and increased financing costs. Overall, the tax provision was increased by approximately $25 million and $5.2 million due to valuation allowances in the years ended December 31, 2014 and 2013, respectively. The determination of tax valuation allowances requires significant judgment and depends on many factors outside of our control. The valuation allowance may be increased in the future if actual operating results do not conform to expectations and assumptions.

In the fourth quarter of 2014, the Company recorded a pre-tax charge for impairment of goodwill in the amount of $325.8 million. As a result, the Company recorded a deferred tax benefit of $62.8 million with respect to the portion of impaired goodwill which is deductible for tax purposes. See Note 5 – Goodwill and Intangible Assets of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for discussion.

In addition, in 2014, the tax provision was increased by $5.5 million on the $11.8 million pre-tax gain related to the deconsolidation of our subsidiaries in Poland, Hungary and Czech Republic, and the formation of a new joint

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venture with our existing partner in Finland, Alma Media Corporation. See Note 11 – Deconsolidation of Subsidiaries of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for discussion.

In December 2013, the Company sold a 49.99% interest in JobKorea Ltd., its wholly owned subsidiary in South Korea, to H&Q Korea for an aggregate purchase price of $90.0 million. The transaction, which is accounted for as a sale of a noncontrolling interest resulted in a sale for tax purposes. A tax provision of $30.9 million was recorded as a result of the transaction of which $12.7 million was charged to stockholder’s equity and $18.1 million was charged to the continuing operations tax provision. See Note 3 – Noncontrolling Interest of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for discussion.

Our future effective tax rates could be adversely affected by earnings being lower in countries where we have lower statutory rates, changes in the valuation of our deferred tax assets, or changes in tax laws or interpretations thereof. We may engage in internal restructurings or reorganizations in the future. We consider many factors when evaluating these transactions. These transactions may adversely impact our overall tax rate and result in additional cash tax payments. Our future tax rates may be adversely impacted if the Company has insufficient accumulated realized excess tax benefits from vested stock-based compensation such that future tax deficiencies caused by awards vesting at prices below the original grant price are charged to the income tax provision. At December 31, 2014, the Company has no remaining accumulated excess realized tax benefits.

Our filed tax returns are subject to examination by the United States Internal Revenue Service (“IRS”) and other tax authorities. The Company recently completed a tax examination with the IRS through the year 2011. No material adjustments to reported income were made. We regularly assess the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of our provision for income taxes. During 2014, the Company recognized previously unrecognized tax positions of $2.5 million, which on a net of tax basis favorably impacted the effective rate by $1.1 million, primarily as a result of lapses of statutes of limitations. The Company also reversed accrued interest on unrecognized tax positions of $1.5 million, which favorably impacted the effective rate by $0.9 million. The tax matters reversed relate primarily to allocation of income among jurisdictions. The Company estimates that is reasonably possible that unrecognized tax positions may be reduced by an amount ranging from $0 to $15 million in the next twelve months due to settlement of examinations or lapse of statute of limitations. The tax matters relate to allocation of income between tax jurisdictions and the amount of tax loss carryovers.

Loss in equity interests, net

Loss in equity interests, net, for the year ended December 31, 2014 and 2013 was $0.1 million and $0.9 million, respectively. Through January 3, 2014, the Company had a 25% equity investment in a company located in Finland. Effective January 3, 2014, the Company has a 15% equity investment in Alma Career Oy, a joint venture with Alma Media Corporation. See Note 11 – Deconsolidation of Subsidiaries of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K. The Company also has a 50% equity interest in a company located in Australia.

Net income attributable to noncontrolling interest

In December 2013, the Company sold a 49.99% interest in JobKorea, its wholly owned subsidiary in South Korea, to H&Q Korea for an aggregate purchase price of $90.0 million. Based on the terms of the agreement, since the Company maintains a controlling interest in the subsidiary, the Company will consolidates the results of JobKorea in its consolidated financial statements. The noncontrolling interest’s share of (loss) income from continuing operations and net loss was $5.5 million and $0.2 million for the year ended December 31, 2014 and 2013, respectively.

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Loss from discontinued operations, net of tax

For the year ended December 31, 2013, the Company reported a loss from discontinued operations, net of tax, of $3.8 million. Included in the results from discontinued operations are the results of our operations for Careers-China, Latin America and Turkey. There was no such loss recognized in 2014.

Net loss attributable to Monster Worldwide, Inc.

As a result of the factors discussed above, our consolidated net loss was $283.8 million in 2014, compared to a net loss of $0.3 million in 2013. Net loss attributable to Monster Worldwide, Inc. was $289.3 million and $0.5 million in 2014 and 2013, respectively.

Diluted (loss) earnings per share attributable to Monster Worldwide, Inc.

Diluted loss per share attributable to Monster Worldwide, Inc. in 2014 was $3.29 compared to break-even diluted earnings per share attributable to Monster Worldwide, Inc. in 2013. Diluted weighted average shares outstanding for the year ended December 31, 2014 and 2013 was 88.0 million shares and 107.9 million shares, respectively. During the year ended December 31, 2014, the Company repurchased 7.1 million shares as part of its previously announced share repurchase program.

Reconciliation of Non-GAAP Financial Measures to GAAP Measures

EBITDA is defined as operating income or loss before depreciation and amortization, non-cash compensation expense, non-cash impairment charges, and non-cash costs incurred with the Company’s restructuring programs. Adjusted EBITDA is defined as EBITDA plus charges related to exited facilities, acquisition related costs, costs incurred related to the Company’s review of strategic alternatives, separation charges primarily associated with the resignation of our former Chief Executive Officer, effective November 4, 2014, and costs incurred relating to the November 2012 restructuring.

The Company considers EBITDA and Adjusted EBITDA to be an important indicator of its operational strength which the Company believes is useful to management and investors in evaluating its operating performance. EBITDA and Adjusted EBITDA are Non-GAAP measures and may not be comparable to similarly titled measures reported by other companies.

We do not consider EBITDA or Adjusted EBITDA in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of EBITDA and Adjusted EBITDA is that they exclude certain expenses and income that are required by GAAP to be recorded in our consolidated financial statements. In addition, Adjusted EBITDA is subject to inherent limitations as it reflects the exercise of judgment by management about which expenses and income are excluded or included in determining Adjusted EBITDA. In order to compensate for these limitations, management presents EBITDA and Adjusted EBITDA in connection with GAAP results.

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A reconciliation of operating (loss) income to EBITDA and Adjusted EBITDA is as follows (dollars in thousands):

	The year ended December 31,
	2014			2013
Operating (loss) income	$	(322,296	)	$	33,191
Goodwill impairment(1)		325,800			—
Depreciation expense		46,019			49,922
Stock based compensation expense(4)		35,357			25,391
Amortization of intangibles		2,624			9,234
Impairment of indefinite-lived intangible(1)		1,000
Restructuring non-cash expenses(5)		—			5,315
EBITDA		88,504			123,053
Facilities costs(2)		7,729			—
Fees associated with strategic alternatives(3)		—			2,920
Separation charges(4)		4,974			—
Restructuring and other special charges, less non-cash items(5)		—			14,680
Adjusted EBITDA	$	101,207		$	140,653

(1) In the fourth quarter of 2014, primarily due to the decline of our market capitalization and the implications such decline had on the carrying value of our goodwill, management concluded that the carrying amount of goodwill exceeded its estimated fair value for both its Careers-North America and Internet Advertising & Fees reporting units. As a result, the Company recorded a pre-tax goodwill impairment charge of $325.8 million during the fourth quarter of 2014. In addition, the Company recorded an impairment charge of $1.0 million on an indefinite-lived intangible asset in the fourth quarter of 2014.

(2) The Company incurred $7.7 million of charges associated with exited facilities in 2014. The majority of these charges related to facility charges associated with the consolidation of multiple offices into the Company’s new corporate headquarters in Weston, Massachusetts.

(3) On March 1, 2012, the Company announced that it had resolved to explore strategic alternatives to maximize value for the Company’s stockholders. During 2013, the Company incurred $2.9 million of costs related to the review of strategic alternatives.

(4) The Company incurred $5.0 million of separation charges in 2014. The charges primarily relate to the resignation of the Company’s former Chief Executive Officer, effective November 4, 2014. In addition, in connection with the former Chief Executive Officer’s resignation, the Company accelerated the vesting of 160,501 RSA’s and 2,250,000 RSU’s, resulting in $4,354 of additional non-cash compensation.

(5) On November 8, 2012, the Company announced actions to concentrate resources on core businesses within North America and key European and Asian markets with increased spending in marketing and sales. The restructuring actions included reducing the Company’s workforce, consolidating certain office facilities and impairing certain fixed assets. The Company incurred $20.0 million of restructuring costs (including $5.3 million of non-cash expenses) in 2013 relating to this program.

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The Year Ended December 31, 2013 Compared to the Year Ended December 31, 2012

Consolidated Revenue, Operating Expenses and Operating Income

Consolidated revenue, operating expenses and operating income for the years ended December 31, 2013 and 2012 were as follows (excluding discontinued operations) (dollars in thousands):

	The year ended December 31,
	2013		%of Revenue			2012			% of Revenue			Increase (Decrease)			% Increase (Decrease)
Revenue	$	807,579		100.0	%	$	890,392			100.0	%	$	(82,813	)		(9.3	%)
Salaries and related		379,406		47.0	%		408,305			45.9	%		(28,899	)		(7.1	%)
Office and general		205,397		25.4	%		226,601			25.4	%		(21,204	)		(9.4	%)
Marketing and promotion		169,590		21.0	%		188,326			21.2	%		(18,736	)		(9.9	%)
Restructuring and other special charges		19,995		2.5	%		40,358			4.5	%		(20,363	)		(50.5	%)
Recovery of restitution award from former executive		—		0.0	%		(5,350	)		(0.6	%)		5,350			100.0	%
Total operating expenses		774,388		95.9	%		858,240			96.4	%		(83,852	)		(9.8	%)
Operating income	$	33,191		4.1	%	$	32,152			3.6	%	$	1,039			3.2	%
EBITDA	$	123,053		15.2	%	$	132,148			14.8	%	$	(9,095	)		(6.9	%)
Adjusted EBITDA	$	140,653		17.4	%	$	164,272			18.4	%	$	(23,619	)		(14.4	%)

Our consolidated revenue decreased by $82.8 million (9.3%) in 2013 compared to 2012. This decrease resulted primarily from our Careers-International segment, with a $62.5 million (17.8%) reduction in revenue. The economic environment in Europe and Asia continued to be challenging in 2013.

Salaries and related expenses decreased $28.9 million (7.1%) in 2013 compared 2012. This decrease in salaries and related expenses resulted primarily from decreased regular salary costs as a result of our restructuring programs and decreased variable compensation costs for the Company’s sales force.

Office and general expenses decreased $21.2 million (9.4%) in 2013 compared to 2012. This decrease in office and general expenses resulted primarily from decreased travel expenses, professional fees and occupancy costs.

Marketing and promotion expenses decreased $18.7 million (9.9%) in 2013 compared to 2012. Beginning in 2012, the Company evolved its marketing approach to efficiently drive improved site traffic.

For the year ended December 31, 2013, we incurred $20.0 million of restructuring and other special charges, comprised mainly of severance costs, facility charges, and impairment of certain assets as a result of our restructuring program which was announced in November 2012.

In the first quarter of 2012, the Company recorded $5.4 million from the United States Department of Justice (“DOJ”) for partial restitution of damages caused to the Company in connection with the Company’s historical stock option granting practices of which the Company’s former Chief Operating Officer had been convicted of securities fraud in May 2009. This amount had been previously remitted to the DOJ by the Company’s former Chief Operating Officer as a civil forfeiture to the United States Federal Government.

Careers-China, Latin America and Turkey, which had previously been included in the Company’s consolidated statement of operations, were reclassified as discontinued operations for all periods presented. Please see Note 7 – Discontinued Operations of the Notes to Consolidated Financial Statements, included in Item 8 of this Annual Report on Form 10-K.

Our consolidated operating income, excluding discontinued operations, was $33.2 million in 2013, compared to operating income of $32.2 million in 2012, as a result of the factors discussed above.

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Our consolidated EBITDA and Adjusted EBITDA were $123.1 million and $140.7 million in 2013, respectively, compared to consolidated EBITDA and Adjusted EBITDA of $132.1 million and $164.3 million in 2012, respectively, as a result of the factors discussed above. See Reconciliation of Non-GAAP Financial Measures to GAAP Measures following the discussion of our results of operations for definitions and a reconciliation from our operating income to EBITDA and Adjusted EBITDA.

Careers-North America

The operating results of our Careers-North America segment for the years ended December 31, 2013 and 2012 were as follows (dollars in thousands):

	The year ended December 31,
	2013		%of Revenue			2012		% of Revenue			Increase (Decrease)			% Increase (Decrease)
Revenue	$	446,274		100.0	%	$	462,962		100.0	%	$	(16,688	)		(3.6	%)
Salaries and related		179,176		40.1	%		184,336		39.8	%		(5,160	)		(2.8	%)
Office and general		97,791		21.9	%		103,206		22.3	%		(5,415	)		(5.2	%)
Marketing and promotion		94,761		21.2	%		111,764		24.1	%		(17,003	)		(15.2	%)
Restructuring and other special charges		9,537		2.1	%		20,970		4.5	%		(11,433	)		(54.5	%)
Total operating expenses		381,265		85.4	%		420,276		90.8	%		(39,011	)		(9.3	%)
Operating income	$	65,009		14.6	%	$	42,686		9.2	%	$	22,323			52.3	%

Our Careers-North America segment revenue experienced a $16.7 million (3.6%) decrease in 2013 when compared to 2012. This decrease was due to a reduction of revenue from our field sales customers, partially offset by increased business activity from our e-Commerce and government sectors.

Salaries and related expenses decreased $5.2 million (2.8%) in 2013 compared to 2012. This decrease in salaries and related expenses resulted primarily from $4.7 million of decreased regular salary and other headcount related costs as a result of our restructuring programs.

Office and general expenses decreased $5.4 million (5.2%) in 2013 compared to 2012. This decrease in office and general expenses resulted primarily from decreased travel expenses of $2.8 million, decreased occupancy costs of $1.0 million resulting from our restructuring programs, and decreased amortization expense of $3.0 million resulting from the amortization period of certain intangible assets associated with a previous acquisition ending during the third quarter of 2013. These reductions were partially offset by increased consulting fees of $2.0 million related to our government business.

Marketing and promotion expenses decreased $17.0 million (15.2%) in 2013 compared to 2012. Beginning in 2012, the Company evolved its marketing approach to efficiently drive improved site traffic.

The Company incurred $9.5 million of restructuring and other special charges in 2013, comprised primarily of costs associated with severance, exiting office facilities and other asset write downs.

Our Careers-North America operating income was $65.0 million in 2013, compared to operating income of $42.7 million in 2012, as a result of the factors described above.

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Careers-International

The operating results of our Careers-International segment for the years ended December 31, 2013 and 2012 were as follows (excluding discontinued operations) (dollars in thousands):

	The year ended December 31,
	2013			% of Revenue			2012		% of Revenue			Increase (Decrease)			% Increase (Decrease)
Revenue	$	288,623			100.0	%	$	351,130		100.0	%	$	(62,507	)		(17.8	%)
Salaries and related		151,371			52.4	%		163,716		46.6	%		(12,345	)		(7.5	%)
Office and general		80,878			28.0	%		90,785		25.9	%		(9,907	)		(10.9	%)
Marketing and promotion		67,104			23.2	%		67,563		19.2	%		(459	)		(0.7	%)
Restructuring and other special charges		7,866			2.7	%		15,990		4.6	%		(8,124	)		(50.8	%)
Total operating expenses		307,219			106.4	%		338,054		96.3	%		(30,835	)		(9.1	%)
Operating (loss) income	$	(18,596	)		(6.4	%)	$	13,076		3.7	%	$	(31,672	)		(242.2	%)

Our Careers-International segment revenue decreased $62.5 million (17.8%) in 2013 compared to 2012. The reduction in our Careers-International segment was primarily driven by decreases within Europe where revenue decreased 20.0% compared to 2012, principally in Germany, France, UK, Netherlands and Sweden. Our key Asian markets, Korea and India, also continued to be impacted by global economic uncertainty with revenue declines of 10.5% compared to 2012. The economic environment in Europe and Asia continued to be challenging in 2013.

Salaries and related expenses decreased $12.3 million (7.5%) in 2013 compared to 2012. This decrease in salaries and related expenses resulted primarily from $9.0 million in decreased regular salary and other headcount related costs due to our restructuring programs, and $2.2 million of decreased variable compensation costs for the Company’s sales force.

Office and general expenses decreased $9.9 million (10.9%) in 2013 compared to 2012. This decrease in office and general expenses resulted primarily from $6.5 million of decreased professional fees in the UK related to our government services, and decreased travel expenses of $3.5 million, partially offset by increased depreciation expense of $0.7 million primarily related to capital expenditures made in 2012 associated with our UK government business.

Marketing and promotion decreased $0.5 million (0.7%) in 2013 compared to 2012. The Company continued to focus on targeted investments in key markets in Europe and Asia to drive site traffic and improve brand awareness.

In 2013, we incurred $7.9 million of restructuring and other special charges comprised mainly of severance costs as a result of our restructuring program announced in November 2012.

Our Careers-International operating loss was $18.6 million in 2013, compared to operating income of $13.1 million in 2012, as a result of the factors discussed above.

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Internet Advertising & Fees

The operating results of our Internet Advertising & Fees segment for the years ended December 31, 2013 and 2012 were as follows (dollars in thousands):

	The year ended December 31,
	2013		% of Revenue			2012		% of Revenue			Increase (Decrease)			% Increase (Decrease)
Revenue	$	72,682		100.0	%	$	76,300		100.0	%	$	(3,618	)		(4.7	%)
Salaries and related		26,590		36.6	%		31,926		41.8	%		(5,336	)		(16.7	%)
Office and general		13,666		18.8	%		16,981		22.3	%		(3,315	)		(19.5	%)
Marketing and promotion		7,593		10.4	%		7,549		9.9	%		44			0.6	%
Restructuring and other special charges		341		0.5	%		2,123		2.8	%		(1,782	)		(83.9	%)
Total operating expenses		48,190		66.3	%		58,579		76.8	%		(10,389	)		(17.7	%)
Operating income	$	24,492		33.7	%	$	17,721		23.2	%	$	6,771			38.2	%

Revenue in our Internet Advertising & Fees segment decreased $3.6 million (4.7%) in 2013 compared to 2012. This decrease resulted primarily from the Company focusing on higher margin lead generation and display advertising business activities as demonstrated by our operating margins in 2013.

Salaries and related expenses decreased $5.3 million (16.7%) in 2013 compared to 2012. This decrease in salaries and related expenses resulted primarily from $4.3 million in decreased regular salary and other headcount related costs due to our restructuring programs and decreased variable compensation costs for the Company’s sales force of $0.9 million.

Office and general expenses decreased $3.3 million (19.5%) in 2013 compared to 2012. This decrease in office and general expenses resulted primarily from an across the board expense reduction associated with our restructuring programs.

Our Internet Advertising & Fees operating income was $24.5 million in 2013, compared to operating income of $17.7 million in 2012, as a result of the factors discussed above.

Interest and other, net

Interest and other, net, for the year ended December 31, 2013 and 2012 resulted in an expense of $5.8 million and $5.9 million, respectively. Interest and other, net, primarily related to interest expense on the Company’s outstanding debt, interest income associated with the Company’s various investments, and foreign currency gains or losses.

Income taxes

Income taxes for the years ended December 31, 2013 and 2012 were as follows (dollars in thousands):

	The year ended December 31,
	2013			2012			Change in Dollars		Percentage Change
Income before income taces and loss in equity interest	$	27,421		$	26,269		$	1,152		4.4	%
Provision for (benefit from) income taxes	$	23,004		$	(32,978	)	$	55,982		(169.8	%)
Effective tax rate		84.0	%		na

The provision for income taxes consists of provisions for federal, state and foreign income taxes. The Company operates globally with operations in the United States and various tax jurisdictions outside of the United States.

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Accordingly our tax rate is a composite rate, reflecting the earnings and losses in the various tax jurisdictions and the applicable rates. The federal tax rate in the United States is 35% and tax rates in foreign countries in which we do business vary from approximately 17% to 35%.

Our effective tax rates differed from the statutory rate due to the impact of state and local income taxes, certain nondeductible expenses, foreign earnings taxed at different tax rates, valuation allowances, the accrual of interest on tax liabilities and other items, as described below. Our business has experienced a shift in the relative proportion of revenue and profitability to the United States and, during 2013, the Company incurred losses in certain international markets, particularly Europe. International corporate income tax rates are generally lower than the U.S. tax rates. The shift in the global mix of income towards less international income or increased international losses in countries with lower tax rates than the U.S. has contributed towards an increase in our overall effective tax rate. Primarily as a result of weakness in certain international markets the Company has recorded valuation allowances on certain deferred tax assets for operating losses and foreign tax credit carryovers. The tax provision was increased by approximately $5.2 million in 2013 due to valuation allowances in the year ended December 31, 2013.

Our future effective tax rates could be adversely affected by earnings being lower in countries where we have lower statutory rates, changes in the valuation of our deferred tax assets, or changes in tax laws or interpretations thereof. We may engage in internal restructurings or reorganizations in the future. We consider many factors when evaluating these transactions. These transactions may adversely impact our overall tax rate and result in additional cash tax payments. Our future tax rates may be adversely impacted if the Company has insufficient accumulated realized excess tax benefits from vested stock-based compensation such that future tax deficiencies caused by awards vesting at prices below the original grant price are charged to the income tax provision. Excess accumulated benefits recorded in stockholders’ equity at December 31, 2013 amounted to $2.0 million.

In December 2013, the Company sold a 49.99% interest in JobKorea Ltd., its wholly owned subsidiary in South Korea, to H&Q Korea for an aggregate purchase price of $90.0 million. The transaction, which was accounted for as a sale of a noncontrolling interest, resulted in a sale for tax purposes. A tax provision of $30.9 million was recorded as a result of the transaction, of which $12.7 million was charged to stockholder’s equity and $18.1 million was charged to the continuing operations tax provision. See Note 3 – Noncontrolling Interest of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for discussion.

Our filed tax returns are subject to examination by the United States Internal Revenue Service and other tax authorities. We regularly assess the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of our provision for income taxes. During 2013, the Company recognized previously unrecognized tax positions of $13.0 million, which on a net of tax basis favorably impacted the effective rate by $12.4 million as a result of settlements of tax examinations and lapses of statutes of limitations. The Company also reversed accrued interest on unrecognized tax positions of $3.2 million, which favorably impacted the effective rate by $2.0 million. The tax matters reversed related primarily to characterization of certain intercompany loans for tax purposes and allocation of income among jurisdictions.

Loss in equity interests, net

Loss in equity interests, net, for the year ended December 31, 2013 and 2012 was $0.9 million and $1.1 million, respectively. The Company’s equity investments consisted of a 50% equity interest in a company located in Australia and a 25% equity interest in a company located in Finland.

Net income attributable to noncontrolling interest

In December 2013, the Company sold a 49.99% interest in JobKorea Ltd., its wholly owned subsidiary in South Korea, to H&Q Korea for an aggregate purchase price of $90.0 million. Based on the terms of the agreement, since the Company maintains a controlling interest in the subsidiary, the Company continues to consolidate the

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results of JobKorea Ltd. in its consolidated financial statements. The noncontrolling interest’s share of income from continuing operations and net loss was $0.2 million for the year ended December 31, 2013.

Loss from discontinued operations, net of tax

For the year ended December 31, 2013 and 2012, the Company reported a loss from discontinued operations, net of tax, of $3.8 million and $316.9 million, respectively. Included in the results from discontinued operations were the results of our operations for Careers-China, Latin America and Turkey.

Net loss attributable to Monster Worldwide, Inc.

As a result of the factors discussed above, our consolidated net loss was $0.3 million in 2013, compared to a net loss of $258.7 million in 2012. Net loss attributable to Monster Worldwide, Inc. was $0.5 million as of December 31, 2013.

Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.

Diluted earnings per share attributable to Monster Worldwide, Inc. in 2013 was break-even compared to diluted loss per share attributable to Monster Worldwide, Inc. of $2.27 in 2012. Diluted weighted average shares outstanding for the year ended December 31, 2013 and 2012 was 107.9 million shares and 114.0 million shares, respectively. During the year ended December 31, 2013, the Company repurchased 20.6 million shares as part of its previously announced share repurchase program.

Reconciliation of Non-GAAP Financial Measures to GAAP Measures

EBITDA is defined as operating income or loss before depreciation and amortization, non-cash compensation expense, non-cash impairment charges, and non-cash restructuring costs. Adjusted EBITDA is defined as EBITDA plus costs incurred related to the Company’s review of strategic alternatives, costs incurred relating to the November 2012 restructuring, less the recovery of a restitution award from a former executive.

The Company considers EBITDA and Adjusted EBITDA to be an important indicator of its operational strength which the Company believes is useful to management and investors in evaluating its operating performance. EBITDA and Adjusted EBITDA are Non-GAAP measures and may not be comparable to similarly titled measures reported by other companies.

We do not consider EBITDA or Adjusted EBITDA in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of EBITDA and Adjusted EBITDA is that they exclude certain expenses and income that are required by GAAP to be recorded in our consolidated financial statements. In addition, Adjusted EBITDA is subject to inherent limitations as it reflects the exercise of judgment by management about which expenses and income are excluded or included in determining Adjusted EBITDA. In order to compensate for these limitations, management presents EBITDA and Adjusted EBITDA in connection with GAAP results.

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A reconciliation of operating income to EBITDA and Adjusted EBITDA is as follows (dollars in thousands):

	The year ended December 31,
	2013		2012
Operating Income	$	33,191	$	32,152
Depreciation expense		49,922		51,926
Stock based compensation expense		25,391		28,174
Amortization of intangibles		9,234		12,353
Restructuring non-cash expenses		5,315		7,543
EBITDA		123,053		132,148
Fees associated with strategic alternatives(1)		2,920		4,659
Restructuring and other special charges, less non-cash items(2)		14,680		32,815
Recovery of restitution award from former executive(3)		—		(5,350	)
Adjusted EBITDA	$	140,653	$	164,272

(1) On March 1, 2012, the Company announced that it had resolved to explore strategic alternatives to maximize value for the Company’s stockholders. The Company incurred $2.9 million and $4.7 million of costs related to the review of strategic alternatives in 2013 and 2012, respectively.

(2) On November 8, 2012, the Company announced actions to concentrate resources on core businesses within North America and key European and Asian markets with increased spending in marketing and sales. The restructuring actions included reducing the Company’s workforce, consolidating certain office facilities and impairing certain fixed assets. The Company incurred $20.0 million and $40.4 million of restructuring costs in 2013 and 2012, respectively, related to this program (including $5.3 million and $7.5 million of non-cash expenses in 2013 and 2012, respectively).

(3) In the first quarter of 2012, the Company recorded $5.4 million from the United States Department of Justice (“DOJ”) for partial restitution of damages caused to the Company in connection with the Company’s historical stock option granting practices of which the Company’s former Chief Operating Officer had been convicted of securities fraud in May 2009. This amount had been previously remitted to the DOJ by the Company’s former Chief Operating Officer as a civil forfeiture to the United States Federal Government

Financial Condition

The following table details our cash and cash equivalents (dollars in thousands):

	December 31,						Change in
	2014			2013			Dollars		Percentage
Cash and cash equivalents	$	94,297		$	88,581		$	5,716		6.5	%
Percentage of total assets		7.7	%		5.6	%

As of December 31, 2014, we had cash and cash equivalents of $94.3 million compared to $88.6 million as of December 31, 2013. Our increase in cash and cash equivalents of $5.7 million in 2014 primarily resulted from $82.8 million of cash provided by operating activities, $65.3 million of net new borrowings on our term loan and credit facilities and $122.5 million of net proceeds, after deducting fees, expenses and the cost of the capped call transactions, from the sale of our 3.50% convertible senior notes due 2019, partially offset by $47.5 million of net payments on our term loan and credit facilities, $27.0 million of payments for acquisitions, net of cash acquired, $39.8 million of capital expenditures, the repurchase of $52.1 million of the Company’s common stock, $6.5 million of cash contributed in connection with our joint venture with Alma Media, a $3.0 million dividend paid to the minority shareholder in Korea, and $10.6 million of tax withholdings related to vesting of stock awards.

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Cash Flows

Consolidated cash flows for the year ended December 31, 2014 and 2013 are as follows (dollars in thousands):

	The year ended December 31,						Change in
	2014			2013			Dollars		Percentage
Net cash provided by operating activities	$	82,755		$	33,822		$	48,933		144.7	%
Net cash used for investing activities	$	(80,066	)	$	(38,882	)	$	41,184		105.9	%
Net cash provided by (used for) financing activities	$	7,657		$	(49,772	)	$	57,429		115.4	%
Effects of exchange rates on cash	$	(4,630	)	$	(4,772	)	$	142		3.0	%

Cash provided by operating activities was $82.8 million for the year ended December 31, 2014, an increase of $48.9 million from the $33.8 million of cash provided by operating activities for the year ended December 31, 2013. This increase was driven by increased cash flows of $52.6 million relating to working capital items, primarily resulting from cash outflows in 2013 related to our 2012 restructuring program, and increased collections on our accounts receivable.

Cash used for investing activities was $80.1 million for the year ended December 31, 2014, an increase of $41.2 million from cash used for investing activities of $38.9 million for the year ended December 31, 2013. This increase resulted primarily from $27.0 million of payments for acquisitions, net of cash acquired, $6.5 million of cash contributed in connection with our joint venture with Alma Media, and increased capital expenditures of $7.2 million in 2014, primarily due to our new corporate headquarters in Weston, Massachusetts.

Cash provided by financing activities was $7.7 million for the year ended December 31, 2014, an increase of $57.4 million from cash used for financing activities of $49.8 million for the year ended December 31, 2013. This increase resulted primarily from $122.5 million of net proceeds, after deducting fees, expenses and the cost of the capped call transactions, from the sale of our 3.50% convertible senior notes due 2019, the repurchase of $55.1 million less of the Company’s Common Stock in 2014, partially offset by $86.5 million of net proceeds from the sale of a noncontrolling interest in our South Korean subsidiary which occurred in 2013, and $18.6 million of additional net payments on our term loan and credit facilities in 2014.

Liquidity and Capital Resources

Our principal capital requirements have been to fund (i) working capital; (ii) marketing and development of our Monster network; (iii) acquisitions; (iv) capital expenditures; and (v) share repurchases.

Historically, we have relied on funds provided by operating activities, equity offerings, short and long-term borrowings and seller-financed notes to meet our liquidity needs. We invest our excess cash predominantly in bank time deposits and commercial paper that matures within three months of its origination date. Due to the turmoil in the financial markets, we have redeployed our excess cash during 2012, 2013 and 2014 in conservative investment vehicles such as U.S. treasury bills, money market funds that invest solely in U.S. treasuries, top foreign sovereign regional, national and supra-national bank debt obligations and bank deposits at prime money center banks. We actively monitor the third-party depository institutions that hold our cash and cash equivalents. Our emphasis is primarily on safety of principal while secondarily maximizing yield on those funds. We can provide no assurances that access to our invested cash and cash equivalents will not be impacted by adverse conditions in the financial markets.

At any point in time we have funds in our operating accounts and customer accounts that are with third party financial institutions. These balances in the United States may exceed the Federal Deposit Insurance Corporation insurance limits. While we monitor the cash balances in our operating accounts and adjust the cash balances as appropriate, these cash balances could be impacted if the underlying financial institutions fail or could be subject to other adverse conditions in the financial markets.

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We believe that our current cash and cash equivalents, revolving credit facility and cash we anticipate generating from operating activities will provide us with sufficient liquidity to satisfy our working capital needs, cash payments of our various restructuring costs, capital expenditures and meet our investment requirements and commitments through at least the next twelve months. Our cash generated from operating activities is subject to fluctuations in the global economy and overall hiring demand.

Amended Credit Facility

On October 15, 2014, the Company entered into an amendment of its credit agreement dated March 22, 2012 (the “Second Amended Credit Agreement”), that (i) permitted the offering of the Notes (as defined below) and the conversion of the Notes into cash and/or equity of the Company, (ii) permitted the Company to enter into a capped call transaction and (iii) required that the Company use the proceeds from the offering of the Notes (net of reasonable and documented fees and expenses incurred in connection with the offering and the net cost of the capped call transaction), to repay the term loan facility and revolving debt under the Second Amended Credit Agreement (with no corresponding reduction of the then-existing revolving credit facility).

On October 31, 2014, the Company amended and restated the Second Amended Credit Agreement (the “Third Amended Credit Agreement”). The Third Amended Credit Agreement provides the Company with a $100 million revolving credit facility and $90 million term loan facility, providing for a total of $190 million in credit available to the Company. The borrowings under the Third Amended Credit Agreement were used to satisfy the obligations under the Second Amended Credit Agreement in conjunction with the proceeds from the Notes (as defined below). Each of the revolving credit facility and the term loan facility matures on October 31, 2017. The Company is required to make quarterly amortization payments on the outstanding principal amount of the term loans, with $2.25 million payable on each of March 31, 2015, June 30, 2015, and September 30, 2015, $2.8 million payable on each of December 31, 2015, March 31, 2016, June 30, 2016, and September 30, 2016, $3.4 million payable on each of December 31, 2016, March 31, 2017, June 30, 2017, and September 30, 2017, and the remaining balance of the term loan due at maturity. The borrowings under the Third Amended Credit Agreement will be used to refinance the obligations under the existing credit agreement and for general corporate purposes.

Borrowings under the Third Amended Credit Agreement will bear interest at a rate equal to either (i) the London Interbank Offered Rate (“LIBOR”) plus a margin ranging from 250 basis points to 325 basis points depending on the Consolidated Leverage Ratio as defined in the Third Amended Credit Agreement or upon the Company’s election (ii) the sum of (A) the highest of (1) the Agent’s prime rate, (2) the sum of 0.50% plus the overnight federal funds rate on such day or (3) LIBOR plus 1.0%, plus (B) a margin ranging from 150 basis points to 225 basis points depending on the Company’s Consolidated Leverage Ratio. In addition, the Company will be required to pay the following fees: (i) a fee on all outstanding amounts of letters of credit at a rate per annum ranging from 250 basis points to 325 basis points (depending on the Consolidated Leverage Ratio); and (ii) a commitment fee on the unused portion of the revolving credit facility at a rate per annum ranging from 35 basis points to 50 basis points (depending on the Consolidated Leverage Ratio).

The Third Amended Credit Agreement contains financial covenants requiring the Company to maintain: (i) a Consolidated Leverage Ratio of no more than 2.75 to 1.00, as of the end of each fiscal quarter ending after the Closing Date through the fiscal quarter ending March 31, 2015, and 2.50 to 1.00, as of the end of the fiscal quarter ending June 30, 2015, and each fiscal quarter ending thereafter; and (ii) a Consolidated Fixed Charge Coverage Ratio, as defined in the Third Amended Credit Agreement, of at least 1.50 to 1.00. The Third Amended Credit Agreement also contains various other negative covenants, including restrictions on incurring indebtedness, creating liens, mergers, dispositions of property, dividends and stock repurchases, acquisitions and other investments and entering into new lines of business. The Third Amended Credit Agreement also contains various affirmative covenants, including covenants relating to the delivery of financial statements and other financial information, maintenance of property, maintenance of insurance, maintenance of books and records, further assurances regarding collateral and compliance with environmental laws. The Third Amended Credit Agreement is secured by substantially all of the Company’s domestic assets, other than real estate and certain other excluded assets.

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On February 5, 2015, the Company entered into an amendment of the Third Amended Credit Agreement to provide the Company with flexibility in connection with its “Reallocate to Accelerate” cost savings initiatives. The amendment provides that up to $20 million of costs and restructuring charges incurred during the fiscal year ending December 31, 2015 will be added back to Consolidated EBITDA, which is a component of the Consolidated Leverage Ratio and the Consolidated Fixed Charge Coverage Ratio.

As of December 31, 2014, based on the maximum allowed consolidated leverage, $26.9 million of the Company’s revolving credit facility was available under the Third Amended Credit Agreement.

3.50% Convertible Senior Notes Due 2019

On October 22, 2014, the Company consummated an offering of $143.8 million aggregate principal amount of its 3.50% convertible senior notes due 2019 (the “Notes”), which includes $18.8 million in aggregate principal amount of Notes sold pursuant to the over-allotment option that was previously granted to the initial purchasers of the Notes and exercised by the initial purchasers on October 21, 2014. In connection with the offering of the Notes, Monster entered into capped call transactions with an affiliate of one of the initial purchasers. The net proceeds were used to pay for the cost of the capped call transactions, and to repay in full the term loan and a portion of the revolving debt under the Second Amended Credit Agreement.

The Notes are unsecured, senior obligations of Monster, and interest is payable semi-annually at a rate of 3.50% per annum. The Notes will mature on October 15, 2019, unless converted or repurchased in accordance with their terms prior to such date. Prior to January 15, 2019, the Notes are convertible at the option of holders only upon the occurrence of specified events or during certain periods; thereafter, until the second scheduled trading day prior to maturity, the Notes will be convertible at the option of holders at any time.

The conversion rate for the Notes is initially 187.7405 shares per $1,000 principal amount of the Notes, which is equivalent to an initial conversion price of approximately $5.33 per share of Monster’s common stock (“Common Stock”), and is subject to adjustment in certain circumstances. Unless and until Monster obtains stockholder approval to issue upon conversion of the Notes more than 19.99% of the outstanding shares of Common Stock, Monster will settle conversions of the Notes by paying cash up to the principal amount of any converted Notes and delivering Common Stock and/or paying cash in respect of any remaining conversion obligation, and the number of shares of Common Stock issuable upon conversion of the Notes will be subject to such cap. If Monster obtains stockholder approval to issue upon conversion of the Notes more than 19.99% of the outstanding shares of Common Stock on the date the Notes were priced, Monster will settle conversions of the Notes by paying or delivering, as the case may be, cash, shares of Common Stock or a combination thereof, at its election. Monster does not have the right to redeem the Notes prior to maturity.

In accordance with ASC 470-20, Debt with Conversion and Other Options, the Notes were separated into debt and equity components and assigned a fair value. The value assigned to the debt component is the estimated fair value, as of the issuance date, of similar debt without the conversion feature. The difference between the cash proceeds and this estimated fair value represents the value which has been assigned to the equity component and recorded as a debt discount. The debt discount is being amortized using the effective interest method.

The capped call transactions are expected generally to reduce potential dilution to the Common Stock and/or offset cash payments Monster would have to make in excess of the principal amount of any converted Notes in the event that the market price per share of Common Stock, as measured under the terms of the capped call transaction, is greater than the strike price of the capped call transaction, which will initially correspond to the conversion price of the Notes and be subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the Notes. The cap price under the capped call transaction is initially $7.035 per share, and is subject to certain adjustments under the terms of the capped call transaction. The capped call transaction have been included as a net reduction to additional paid-in capital within stockholders’ equity in accordance with ASC 815-40, Derivatives and Hedging – Contracts in Entity’s Own Equity .

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See Note 14 – Long-Term Debt of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for additional information.

Income Taxes

The Company maintains a significant portion of its cash outside the United States which is in subsidiaries for which the Company has asserted its earnings to be indefinitely reinvested in foreign operations. The Company evaluates its reinvestment assertions each reporting period. The Company has asserted to be indefinitely reinvested with respect to all foreign subsidiaries, with the exception of its investment in South Korea.

In November 2013, the Company sold 49.99% of its interest in its South Korean subsidiary to a private equity investor. Aggregate proceeds from the sale were approximately $90.0 million which was received in the United States. The Company’s remaining 50.01% interest in its South Korean subsidiary is treated as a partnership for U.S. tax purposes such that the Company’s 50.01% share of income passes through to the United States for tax reporting purposes whether distributed or not. In April 2014, the Company received a distribution of $3.0 million from its South Korean investment, and is likely to continue to receive distributions in the future.

The amount of cash in subsidiaries offshore for which the Company maintains the indefinite reinvestment assertion at December 31, 2014, was approximately $66.0 million. While we have not determined the total United States and foreign tax liabilities on such a repatriation, generally, if this cash were repatriated, a United States tax liability would be incurred for the excess of United States tax over local taxes paid, if any on the portion characterized as a taxable dividend for United States tax purposes. Repatriations may be subject to local country withholding taxes, which we estimate can generally range from 0 to 20%, depending on the form of repatriation. The Company is presently contemplating cost savings initiatives in offshore markets and is not likely to repatriate while there is a need for cash offshore for such initiatives. The Company intends to fulfill its domestic liquidity needs by borrowing from its credit facility in the United States should additional liquidity needs arise.

In 2014, the Company incurred a net operating loss in the United States and did not pay U.S. Federal income tax. For 2015, the Company expects to use existing loss and tax credit carryovers to offset most cash income tax liabilities. The Company expects to pay cash tax in certain profitable international markets on a quarterly basis.

Restructuring Activities

Throughout 2012, we undertook a series of restructuring actions in order to improve the Company’s long-term growth prospects and profitability in its core markets. We completed the initiatives associated with these restructuring actions in the first quarter of 2013, and the Company will not incur any new charges in the future relating to these programs.

On February 10, 2015, the Company committed to take a series of cost savings initiatives to reduce costs globally while continuing to support the Company’s new strategy. The initiatives currently include a global workforce reduction of approximately 300 associates, or 7% of its full-time staff, consolidation of certain office facilities, and continuing discretionary-spending and office and general expense controls. The Company expects these reductions, currently anticipated to be completed by the end of 2015, to result in annualized savings of approximately $38 million to $45 million. The full impact of the savings will be realized beginning in the fourth quarter of 2015. As a result of these initiatives, the Company expects to record a cumulative pre-tax charge within the range of $18 million to $23 million, all of which is expected to be cash expenditures. The majority of the associated charges are expected to be recorded in the first half of 2015.

Operating Lease Obligations

We have recorded significant charges and accruals relating to terminating certain operating lease obligations before the end of their terms once the Company no longer derives economic benefit from the lease. The liability

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is recognized and measured at its fair value when we determine that the cease use date has occurred and the fair value of the liability is determined based on the remaining lease rentals due, reduced by estimated sublease rental income that could be reasonably obtained for the property. The estimate of subsequent sublease rental income may change and require future changes to the fair value of the liabilities for the lease obligations.

Acquisitions and Investments

We have, from time to time, made strategic acquisitions and partnerships to expand Monster’s global footprint, establish strategic partnerships or to obtain technology that is complementary to our product offerings and strategy. We account for business combinations under the acquisition method of accounting which requires that assets acquired and liabilities assumed be recorded at their fair values on the date of a business combination. Our consolidated financial statements and results of operations reflect an acquired business from the completion date of an acquisition. Investments in which the Company does not have a controlling interest or is not the primary beneficiary, but has the ability to exert significant influence, are accounted for under the equity method of accounting.

Share Repurchase Plan

On October 25, 2011, the Board of Directors of the Company authorized a share repurchase program of up to $250.0 million which expired on April 25, 2013. The Company repurchased a total of 14.0 million shares for a total repurchase price of $107.3 million, excluding commissions, at an average price of $7.67 per share in connection with this program. No share repurchases were made during the year ended December 31, 2013 related to this program.

On April 30, 2013, the Board of Directors of the Company authorized a share repurchase program of up to $200 million. Under the share repurchase program, shares of common stock will be purchased on the open market or through privately negotiated transactions from time-to-time through April 30, 2015. The timing and amount of purchases will be based on market conditions, corporate and legal requirements and other factors. The share repurchase program does not obligate the Company to acquire any specific number of shares in any period, and may be modified, suspended, extended or discontinued at any time without prior notice. During the year ended December 31, 2014, the Company repurchased 7.1 million shares for a total of $51.9 million, excluding commissions, at an average price of $7.29 per share. No shares repurchases were made in the fourth quarter of 2014. From the date of the inception of this repurchase program through December 31, 2014, the Company repurchased 27.7 million shares for a total of $158.7 million, excluding commissions, at an average price of $5.73 per share. The Company currently has $41.3 million remaining under this repurchase program.

Contractual Obligations

The commitments as of December 31, 2014 related to our continuing and discontinued operations are as follows (dollars in thousands):

	Payment Due by Period
Contractual Obligations (Dollars in thousands)	Total		Less Than 1 Year		1- 3 Years		3-5 Years		More Than 5 years
Operating Leases	$	192,389	$	36,280	$	59,597	$	45,661	$	50,851
Purchase commitments – advertising contracts		10,584		8,720		1,864		—		—
Principal Payments		231,500		9,563		78,187		143,750		—
Interest Payments		37,525		8,776		23,596		5,128		25
Software Financing		14,369		5,315		6,130		2,924		—
Other		11,793		5,356		5,253		1,184		—
Total	$	498,160	$	74,010	$	174,627	$	198,647	$	50,876

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In addition to the cash commitments above, we also have $54.6 million of long-term income taxes payable, for which the timing of payment is not reasonably estimable given the many variables related to these liabilities. Please see Note 17 – Income Taxes of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for further discussion of information related to long-term income taxes payable.

Off-Balance Sheet Arrangements

Other than certain contractual obligations listed above, we do not have any off-balance sheet arrangements that have, or are reasonably likely to have, a material current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. See Note 18 – Commitments of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for discussion.

CRITICAL ACCOUNTING ESTIMATES

Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). In connection with the preparation of our financial statements, we are required to make assumptions and estimates about future events, and apply judgments that affect the reported amounts of assets, liabilities, revenue, expenses and the related disclosures. We base our assumptions, estimates and judgments on historical experience, current trends and other factors that management believes to be relevant at the time our consolidated financial statements are prepared. On a regular basis, management reviews the accounting policies, assumptions, estimates and judgments to ensure that our financial statements are presented fairly and in accordance with GAAP. However, because future events and their effects cannot be determined with certainty, actual results could differ from our assumptions and estimates, and such differences could be material.

Our significant accounting policies are discussed in Note 1- Basis of Presentation and Significant Accounting Policies, of the Notes to Consolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K. Management believes that the following accounting policies are the most critical to aid in fully understanding and evaluating our reported financial results, and they require management’s most difficult, subjective or complex judgments, resulting from the need to make estimates about the effect of matters that are inherently uncertain. Management has reviewed these critical accounting estimates and related disclosures with the Audit Committee of our Board of Directors.

Revenue Recognition and Accounts Receivable

The Company recognizes revenue on agreements in accordance with ASC 605, Revenue Recognition.

Careers-North America and Careers-International. Our Careers-North America and Careers-International segments primarily earn revenue from the placement of job postings on the websites within the Monster network, access to the Monster network’s online resume and social profile databases, recruitment media services, applicant tracking services, online career-related solutions provided through a “Software as a Service” (“SaaS”) offering and other career-related services.

Where appropriate, we recognize revenue in accordance with Accounting Standards Update (“ASU”) No. 2009-13, Multiple-Deliverable Revenue Arrangements, which was effective January 1, 2011. The Company’s revenue associated with multiple element contracts is based on the selling price hierarchy, which utilizes vendor-specific objective evidence or (“VSOE”) when available, third-party evidence (“TPE”) if VSOE is not available, and if neither is available then the best estimate of selling price is used. The Company utilizes VSOE in the majority of its multiple deliverable transactions. Under this accounting guidance, to treat elements in a multi-element arrangement as separate units of accounting, each element must have standalone value upon delivery. If the element has standalone value, the Company accounts for each element separately. In determining whether elements have standalone value, the Company considers the availability of the elements from other vendors, the nature of the elements, the timing of execution of contracts for customers and the contractual dependence of the element related to a customer’s acceptance.

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We recognize revenue at the time that job postings and related accessories are displayed on the Monster network websites, based upon customer usage patterns. Revenue earned from subscriptions to the Monster network’s resume and social profile databases, applicant tracking services and other career-related services are recognized over the length of the underlying subscriptions, typically from two weeks to twelve months. The Company accounts for SaaS contracts as the services are being performed.

Unearned revenues are reported on the balance sheet as deferred revenue. We review accounts receivable for those that may potentially be uncollectible and any accounts receivable balances that are determined to be uncollectible are included in our allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance.

Internet Advertising & Fees. Our Internet Advertising & Fees segment primarily earns revenue from the display of advertisements on the Monster network of websites, “click-throughs” on text based links, leads provided to advertisers and subscriptions to premium services. We recognize revenue for online advertising as “impressions” are delivered. An “impression” is delivered when an advertisement appears in pages viewed by our users. We recognize revenue from the display of click-throughs on text based links as click-throughs occur. A click-through occurs when a user clicks on an advertiser’s listing. Revenue from lead generation is recognized as leads are delivered to advertisers.

Fair Value Measurements

The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, accounts receivable, accounts payable, certain accrued expenses and other current liabilities approximate fair value because of the immediate or short-term maturity of these financial instruments. The Company’s debt relates to its 3.50% convertible senior notes due 2019 and borrowings under its revolving credit facilities and term loan. Our borrowings under our credit facilities approximate fair value due to the debt bearing fluctuating market interest rates. The carrying amounts of the convertible senior notes approximate fair value giving affect for the term of those notes and the effective interest rates.

Asset Impairment

Business Combinations, Goodwill and Intangible Assets. We account for business combinations in accordance with ASC 805, Business Combinations . The acquisition method of accounting requires that assets acquired and liabilities assumed be recorded at their fair values on the date of a business acquisition. Our consolidated financial statements and results of operations reflect an acquired business on the completion date of an acquisition.

The Company tests the recorded amount of goodwill for recovery on an annual basis in the fourth quarter of each fiscal year. Goodwill is tested more frequently if indicators of impairment exist. The goodwill impairment test is performed at the reporting unit level. Prior to the sale of Careers-China on February 5, 2013, the Company had four reporting units which were equivalent to our four operating segments: Careers-North America, Careers-International, Careers-China, presented for all periods as a discontinued operation, and Internet Advertising & Fees. Following the sale of the Careers-China business, the Company has three reporting units which are equivalent to our three operating segments: Careers-North America, Careers-International, and Internet Advertising & Fees.

In determining if goodwill is impaired, we estimate the fair value of the reporting unit and compare it to the carrying value of the assets and liabilities of that reporting unit. The Company determines the fair value of its reporting units using a weighting of fair values derived from the income approach and the market approach, depending on the availability of relevant market comparable information. Under the income approach, the Company calculates the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management’s estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used is based on the weighted-average cost of capital adjusted for the relevant risk associated with business-specific characteristics and the

50

uncertainty related to the business’s ability to execute on the projected cash flows. Under the market approach, the Company estimates the fair value based on market multiples of cash flow and earnings derived from comparable publicly-traded companies with similar operating and investment characteristics as the reporting unit and considering a reasonable control premium. The weighting of the fair value derived from the market approach differs for each reporting unit depending on the level of comparability of these publicly-traded companies to the reporting unit. Due to the inherent uncertainty involved in making these estimates, actual results could differ from those estimates.

As a corroborative source of information, the Company reconciles the estimated fair values of its reporting units to within a reasonable range of its market capitalization, which includes an assumed control premium (an adjustment reflecting an estimated fair value on a control basis) to verify the reasonableness of the fair value of its reporting units obtained through the aforementioned methods. The control premium is estimated based upon control premiums observed in comparable market transactions. As none of our reporting units are publicly-traded, individual reporting unit fair value determinations do not directly correlate to the Company’s stock price.

In the fourth quarter of 2014, primarily due to the decline of our market capitalization and the implications such decline had on the carrying value of our goodwill, which resulted in higher discount rates applied to forecasted cash flows, we recorded a pre-tax goodwill impairment charge of $325.8 million during the fourth quarter of 2014 ($263.0 million in Careers-North America and $62.8 million in Internet Advertising & Fees). On a net of tax basis, the charge was $263.0 million after recognizing a tax benefit of $62.8 million. See Note 5—Goodwill and Intangible Assets of the Company’s financial statements included in Item 8 of this Annual Report on Form 10-K for details.

During the third quarter of 2012, the Company performed a qualitative analysis for the Careers-China reporting unit and it was determined that the Careers-China reporting unit was more likely than not to have a fair value less than the unit’s carrying amount. The Company recorded a goodwill impairment charge for Careers-China of $216.2 million. In the fourth quarter of 2012, the Company impaired the remaining goodwill balance of the Careers-China business and recorded an additional $46.4 million impairment, leaving the Careers-China business with no goodwill.

Other intangible assets primarily consist of the value of customer relationships, trade names, resume databases, trademarks and internet domains. Amortizable intangible assets are primarily being amortized on a basis that approximates economic use, over periods ranging from two to ten years.

Indefinite-lived intangible assets are primarily evaluated on an annual basis, generally in conjunction with the Company’s evaluation of goodwill balances. In assessing fair value, we generally utilize a relief from royalty method. If the carrying value of the indefinite-lived intangible assets exceeds the fair value of the asset, the carrying value is written down to fair value in the period identified. The Company recorded an impairment charge of $1.0 million on an indefinite-lived intangible asset in the fourth quarter of 2014.

Long-lived assets. We review long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Determining whether an impairment has occurred typically requires various estimates and assumptions, including determining which cash flows are directly related to the potentially impaired asset, the useful life over which cash flows will occur, their amount and the asset’s residual value, if any. In turn, measurement of an impairment loss requires a determination of fair value, which is based on the best information available. We use internal discounted cash flows estimates, quoted market prices when available and independent appraisals, as appropriate, to determine fair value. We derive the required cash flow estimates from our historical experience and our internal business plans and apply an appropriate discount rate.

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Income Taxes

We utilize the liability method of accounting for income taxes as set forth in ASC 740, Income Taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized. In evaluating our ability to recover our deferred tax assets within the jurisdictions from which they arise, we consider all available positive and negative evidence, including scheduled reversals of taxable temporary items, projected future taxable income, tax planning strategies and recent financial operations. Assumptions used in making this evaluation require significant judgment and are consistent with the plans and estimates we are using to manage the underlying business. When we determine that we are not able to realize our recorded deferred tax assets, an increase in the valuation allowance is recorded, decreasing earnings in the period in which such determination is made.

We assess our income tax positions and record tax benefits for all years subject to examination based upon our evaluation of the facts, circumstances and information available at the reporting date. For those tax positions where there is greater than 50% likelihood that a tax benefit will be sustained, we have recorded the largest amount of tax benefit that may potentially be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where there is a 50% or less likelihood that a tax benefit will be sustained, no tax benefit has been recognized in the financial statements.

Stock-Based Compensation

We award stock options, non-vested stock, market-based non-vested stock and performance-based non-vested stock to employees, directors and executive officers. We account for stock-based compensation in accordance with ASC 718, Stock Compensation. In accordance with ASC 718, we use the fair-market value of the Company’s Common Stock on the date the award is approved to measure fair value for service-based and performance-based awards, a Monte Carlo simulation model to determine both the fair value and requisite service period of market-based awards and the Black-Scholes option-pricing model to determine the fair value of stock option awards. Compensation expense for stock option awards and service-based awards is recognized ratably over the requisite service period. For market-based awards, compensation expense is recognized over the requisite service period as derived using a Monte Carlo simulation model. If an award includes both a market and performance or service condition, the requisite service period is adjusted in the event the market condition is satisfied prior to the end of the derived service period. For performance-based awards, compensation expense is recognized based on the probability of achieving the performance conditions associated with the respective shares, as determined by management.

Restructuring and Other Operating Lease Obligations

We recognize a liability for costs to terminate an operating lease obligation before the end of its term when we no longer derive economic benefit from the lease. The liability is recognized and measured at its fair value when we determine that the cease use date has occurred and the fair value of the liability is determined based on the remaining lease rentals due, reduced by estimated sublease rental income that could be reasonably obtained for the property. The estimate of subsequent sublease rental income may change and require future changes to the fair value of the liabilities for the lease obligations.

Equity Investments

Gains and losses in equity interest for the year ended December 31, 2014, resulting from our equity method investments in Alma Career Oy and a business in Australia, are based on unaudited financial information of those businesses. Although we do not anticipate material differences, audited results may differ.

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Recently Issued Accounting Pronouncements

New accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standards setting bodies that we adopt according to the various timetables the FASB specifies. The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flows. As noted in Note 1 – Basis of Presentation and Significant Accounting Policies of the Notes to Consolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K, the Company is currently assessing the potential impact of ASU No. 2014-09 which supersedes the revenue recognition guidance in ASC 605, Revenue Recognition, on the Company’s results of operations, financial position and cash flows.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Foreign Exchange Risk

During 2014, revenue from our international operations accounted for 37% of our consolidated revenue. Revenue and related expenses are generally denominated in the functional currencies of the local countries. Our primary foreign currencies are Euros, British Pounds, Korean Won, Swedish Krona, and Indian Rupees. The functional currency of our subsidiaries that either operate or support these websites is the same as the corresponding local currency. The results of operations of, and certain of our intercompany balances associated with, our internationally-focused websites are exposed to foreign exchange rate fluctuations. Upon consolidation, as exchange rates vary, revenue and other operating results may differ materially from expectations, and we may record significant gains or losses on the remeasurement of intercompany balances. The effect of the strengthening United States dollar in 2014 positively impacted reported revenue by approximately $1.0 million but had no impact on reported operating loss when compared to 2013.

We have foreign exchange risk related to foreign-denominated cash, cash equivalents and marketable securities (“foreign funds”). Based on the balance of foreign funds at December 31, 2014 of $87.9 million, an assumed 5%, 10% and 20% negative currency movement would result in fair value declines of $4.4 million, $8.8 million and $17.6 million, respectively.

We use forward foreign exchange contracts as cash flow hedges to offset risks related to certain foreign currency transactions. These transactions primarily relate to non-functional currency denominated inter-company funding loans, non-functional currency denominated accounts receivable and non-functional currency denominated accounts payable. We do not enter into derivative financial instruments for trading purposes.

The financial statements of our non-United States subsidiaries are translated into United States dollars using current rates of exchange, with gains or losses included in the cumulative translation adjustment account, a component of stockholders’ equity. During the year ended December 31, 2014, our cumulative translation adjustment account decreased $54.1 million, primarily attributable to the foreign currency movements of the United States dollar against the Euro, British Pound, Swedish Krona and Korean Won as well as $1.8 million of cumulative currency translation adjustments being reclassified to gain on deconsolidation of subsidiaries, net as a result of the deconsolidation of its subsidiaries in Poland, Hungary and the Czech Republic.

Interest Rate Risk

Credit Facilities

As of December 31, 2014, our debt was partly comprised of borrowings under our senior secured revolving credit facility and term loan facility. The credit facilities’ interest rates may be reset due to fluctuations in a market-based index, such as the federal funds rate, the London Interbank Offered Rate (LIBOR) or the administrative agent’s prime rate. Assuming the amount of borrowings provided for under our credit facilities was fully drawn during 2014, we would have had $188.8 million outstanding under such facilities, and a hypothetical 1.00% (100

53

basis-point) change in the interest rate of our credit facilities would have changed our pre-tax earnings by approximately $1.9 million for the year ended December 31, 2014. Assuming the amount of borrowings under our credit facilities was equal to the amount of outstanding borrowings on December 31, 2014, we would have had $87.8 million of total usage and a hypothetical 1.00% (100 basis-point) change in the interest rate of our credit facilities would have changed our pre-tax earnings by approximately $0.9 million for the year ended December 31, 2014. We do not manage the interest rate risk on our debt through the use of derivative instruments.

Investment Portfolio

Our investment portfolio is comprised primarily of cash and cash equivalents and short-term investments in a variety of debt instruments of high quality issuers. We invest in bank time deposits, top sovereign, regional, national and supra-national bank commercial paper, bankers’ acceptances and government bills or promissory notes or bonds that mature within three months of their origination date. A hypothetical 1.00% (100 basis-point) change in interest rates applicable to our investment portfolio balance as of December 31, 2014 would have changed our annual pretax earnings by approximately $0.8 million.

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The following are the consolidated financial statements of Monster Worldwide, Inc. and its consolidated subsidiaries, which are filed as part of this report.

MONSTER WORLDWIDE, INC.

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

	Page No.
Report of Independent Registered Public Accounting Firm		56
Consolidated Balance Sheets		57
Consolidated Statements of Operations and Comprehensive Loss		58
Consolidated Statements of Stockholders’ Equity		59
Consolidated Statements of Cash Flows		60
Notes to Consolidated Financial Statements		61
Supplemental Data: Financial Information by Quarter (Unaudited)		93

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Board of Directors and Stockholders

Monster Worldwide, Inc.

New York, New York

We have audited the accompanying consolidated balance sheets of Monster Worldwide, Inc. (the “Company”) as of December 31, 2014 and 2013 and the related consolidated statements of operations and comprehensive loss, stockholders’ equity, and cash flows for each of the three years in the period ended December 31, 2014. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Monster Worldwide, Inc. at December 31, 2014 and 2013, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2014, in conformity with accounting principles generally accepted in the United States.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), Monster Worldwide, Inc.’s internal control over financial reporting as of December 31, 2014, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and our report dated February 10, 2015 expressed an unqualified opinion thereon.

/s/ BDO USA, LLP

New York, New York

February 10, 2015

56

MONSTER WORLDWIDE, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands, except par values)

	December 31, 2014			December 31, 2013
ASSETS
Current assets:
Cash and cash equivalents	$	94,297		$	88,581
Accounts receivable, net of allowance for doubtful accounts of $3,295 and $3,995, respectively		282,523			332,675
Prepaid and other		83,326			82,809
Total current assets		460,146			504,065
Goodwill		540,621			895,518
Property and equipment, net		119,729			124,169
Intangibles, net		30,503			24,058
Investment in unconsolidated affiliates		20,700			220
Other assets		45,452			38,227
Total assets	$	1,217,151		$	1,586,257
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable, accrued expenses and other	$	159,027		$	167,306
Deferred revenue		300,724			342,156
Current portion of long-term debt		9,563			9,375
Total current liabilities		469,314			518,837
Long-term income taxes payable		54,636			53,078
Long-term debt, net, less current portion		201,821			125,900
Other long-term liabilities		16,635			44,297
Total liabilities		742,406			742,112
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $.001 par value, authorized 800 shares; issued and outstanding: none		—			—
Common stock, $.001 par value, authorized 1,500,000 shares; issued: 144,361 and 141,671 shares, respectively; outstanding: 87,936 and 92,372 shares, respectively		144			142
Class B common stock, $.001 par value, authorized 39,000 shares; issued and outstanding: none		—			—
Additional paid-in capital		2,040,209			2,003,394
Accumulated deficit		(854,160	)		(564,871	)
Accumulated other comprehensive income		9,245			63,368
Less: Treasury stock, at cost, 56,425 and 49,299 shares, respectively		(774,940	)		(712,362	)
Total Monster Worldwide, Inc. stockholders’ equity		420,498			789,671
Noncontrolling interest in subsidiary		54,247			54,474
Total stockholders’ equity		474,745			844,145
Total liabilities and stockholders’ equity	$	1,217,151		$	1,586,257

See accompanying notes.

57

MONSTER WORLDWIDE, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except per share amounts)

	Year ended December 31,
	2014			2013			2012
Revenue	$	770,013		$	807,579		$	890,392
Salaries and related		413,143			379,406			408,305
Office and general		206,974			205,397			226,601
Marketing and promotion		146,392			169,590			188,326
Restructuring and other special charges		—			19,995			40,358
Goodwill impairment		325,800			—			—
Recovery of restitution award from former executive		—			—			(5,350	)
Total operating expenses		1,092,309			774,388			858,240
Operating (loss) income		(322,296	)		33,191			32,152
Gain on deconsolidation of subsidiaries, net		11,828			—			—
Interest and other, net		(8,552	)		(5,770	)		(5,883	)
(Loss) income before income taxes and loss in equity interests		(319,020	)		27,421			26,269
(Benefit from) provision for income taxes		(35,291	)		23,004			(32,978	)
Loss in equity interests, net		(78	)		(908	)		(1,081	)
(Loss) income from continuing operations		(283,807	)		3,509			58,166
Loss from discontinued operations, net of tax		—			(3,798	)		(316,886	)
Net loss		(283,807	)		(289	)		(258,720	)
Net income attributable to noncontrolling interest		5,482			193			—
Net loss attributable to Monster Worldwide, Inc.	$	(289,289	)	$	(482	)	$	(258,720	)
*Basic (loss) earnings per share attributable to Monster Worldwide, Inc.:
(Loss) income from continuing operations	$	(3.29	)	$	0.03		$	0.52
Loss from discontinued operations, net of tax		—			(0.04	)		(2.81	)
Basic loss per share	$	(3.29	)	$	—		$	(2.29	)
*Diluted (loss) earnings per share attributable to Monster Worldwide, Inc.:
(Loss) income from continuing operations	$	(3.29	)	$	0.03		$	0.51
Loss from discontinued operations, net of tax		—			(0.04	)		(2.78	)
Diluted loss per share	$	(3.29	)	$	—		$	(2.27	)
Weighted average shares outstanding:
Basic		88,045			106,947			112,866
Diluted		88,045			107,913			113,995
Net loss	$	(283,807	)	$	(289	)	$	(258,720	)
Other comprehensive loss:
Foreign currency translation adjustments, net		(56,811	)		(23,859	)		23,419
Comprehensive loss		(340,618	)		(24,148	)		(235,301	)
Comprehensive income attributable to noncontrolling interest		2,794			128			—
Comprehensive loss attributable to Monster Worldwide, Inc.	$	(343,412	)	$	(24,276	)	$	(235,301	)

* (Loss) earnings per share may not add in certain periods due to rounding

See accompanying notes.

58

MONSTER WORLDWIDE, INC.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(In thousands)

	Shares of Common Stock			Common Stock and Additional Paid-in Capital			Accumulated Deficit			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Noncontrolling Interest in Subsidiary			Total Stockholders’ Equity
Balance, January 1, 2012		137,855		$	1,931,094		$	(305,669	)	$	63,743		$	(525,041	)	$	—		$	1,164,127
Net loss		—			—			(258,720	)		—						—			(258,720	)
Change in cumulative foreign currency translation adjustment		—			—			—			23,419						—			23,419
Repurchase of common stock		—			—			—			—			(65,611	)		—			(65,611	)
Tax withholdings related to net share settlements of restricted stock awards and units		(1,099	)		—			—			—			(8,482	)		—			(8,482	)
Issuance of common stock for stock option exercises		3			23			—			—						—			23
Tax provision for stock-based compensation		—			(5,319	)		—			—						—			(5,319	)
Stock based compensation-restricted stock		3,078			30,551			—			—						—			30,551
Stock based compensation-stock options		—			51			—			—						—			51
Balance, December 31, 2012		139,837		$	1,956,400		$	(564,389	)	$	87,162		$	(599,134	)	$	—		$	880,039
Net (loss) income		—			—			(482	)		—						193			(289	)
Change in cumulative foreign currency translation adjustment		—			—			—			(23,794	)					(65	)		(23,859	)
Repurchase of common stock		—			—			—			—			(107,167	)		—			(107,167	)
Tax withholdings related to net share settlements of restricted stock awards and units		(1,187	)		—			—			—			(6,061	)		—			(6,061	)
Sale of noncontrolling interest					18,278			—			—						54,346			72,624
Tax provision for stock-based compensation		—			166			—			—						—			166
Stock based compensation-restricted stock		3,021			28,692			—			—						—			28,692
Balance, December 31, 2013		141,671		$	2,003,536		$	(564,871	)	$	63,368		$	(712,362	)	$	54,474		$	844,145
Net (loss) income		—			—			(289,289	)		—			—			5,482			(283,807	)
Change in cumulative foreign currency translation adjustment		—			—			—			(54,123	)		—			(2,688	)		(56,811	)
Repurchase of common stock		—			—			—			—			(52,070	)		—			(52,070	)
Tax withholdings related to net share settlements of restricted stock awards and units		(2,043	)		—			—			—			(10,508	)		—			(10,508	)
Equity component of convertible note issuance, net		—			18,766			—			—			—			—			18,766
Purchase of capped call		—			(16,531	)								—			—			(16,531	)
Cash dividend		—			—			—			—			—			(3,021	)		(3,021	)
Tax provision for stock-based compensation		—			(2,058	)		—			—			—			—			(2,058	)
Stock based compensation-restricted stock		4,733			36,640			—			—			—			—			36,640
Balance, December 31, 2014		144,361		$	2,040,353		$	(854,160	)	$	9,245		$	(774,940	)	$	54,247		$	474,745

See accompanying notes.

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MONSTER WORLDWIDE, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

	The year ended December 31,
	2014			2013			2012
Cash flows provided by operating activities:
Net loss	$	(283,807	)	$	(289	)	$	(258,720	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		48,643			59,156			70,000
Provision for doubtful accounts		1,707			2,367			4,469
Stock-based compensation		35,357			25,391			28,964
Loss in equity interests, net		78			908			1,081
Impairment of investment & other intangibles		2,070			—			5,205
Non-cash restructuring charges		—			5,315			7,505
Deferred income taxes		(43,418	)		28,574			(9,814	)
Gain on deconsolidation of subsidiaries		(13,647	)		—			—
Tax benefit from change in uncertain tax positions		—			(14,355	)		(43,193	)
Amount reclassified from accumulated other comprehensive income		1,819			(23,109	)		—
Goodwill impairment		325,800			—			262,650
Excess income tax benefit from equity compensation plans		(199	)		(5,907	)		—
Changes in assets and liabilities, net of acquisitions:
Accounts receivable		40,567			8,018			(2,013	)
Prepaid and other		(12,508	)		14,573			13,332
Deferred revenue		(32,716	)		(22,189	)		(17,456	)
Accounts payable, accrued liabilities and other		13,009			(44,631	)		(8,683	)
Total adjustments		366,562			34,111			312,047
Net cash provided by operating activities		82,755			33,822			53,327
Cash flows used for investing activities:
Capital expenditures		(39,843	)		(32,616	)		(59,572	)
Payments for acquisitions, net of cash acquired		(27,005	)		—			—
Investment in Alma Career Oy		(6,516	)		—			—
Cash funded to and dividends received from equity investee and other		(2,163	)		(6,266	)		(1,349	)
Capitalized patent defense costs		(4,539	)		—			—
Net cash used for investing activities		(80,066	)		(38,882	)		(60,921	)
Cash flows provided by (used for) financing activities:
Payments on borrowings on credit facilities		(192,300	)		(91,599	)		(305,709	)
Proceeds from borrowings on credit facilities		146,400			69,500			224,718
Payments on borrowings on term loan		(91,625	)		(6,875	)		(43,750	)
Proceeds from borrowings on term loan		90,000			—			100,000
Proceeds from issuance of convertible notes		143,750			—			—
Fees paid on the issuance of debt and purchase of capped call		(23,111	)		—			—
Repurchase of common stock		(52,070	)		(107,167	)		(65,611	)
Tax withholdings related to net share settlements of restricted stock awards and units		(10,565	)		(6,061	)		(8,459	)
Excess income tax benefit from equity compensation plans		199			5,907			—
Net proceeds from sale of noncontrolling interest		—			86,523			—
Dividend paid to minority shareholder		(3,021	)		—			—
Net cash provided by (used for) financing activities		7,657			(49,772	)		(98,811	)
Effects of exchange rates on cash		(4,630	)		(4,772	)		4,273
Net increase (decrease) in cash and cash equivalents		5,716			(59,604	)		(102,132	)
Cash and cash equivalents, beginning of period		88,581			148,185			250,317
Cash and cash equivalents, end of period	$	94,297		$	88,581		$	148,185

See accompanying notes.

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MONSTER WORLDWIDE, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Dollars in thousands, except per share amounts)

1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

The Company

Monster Worldwide, Inc. (together with its consolidated subsidiaries, the “Company,” “Monster,” “Monster Worldwide,” “we,” “our” or “us”) has operations that consist of three reportable segments: Careers-North America, Careers-International and Internet Advertising & Fees. Revenue in the Company’s Careers segments is primarily earned from the placement of job advertisements on the websites within the Monster network, access to the Monster network of online resume and social profile databases, recruitment media services and other career-related services. Revenue in the Company’s Internet Advertising & Fees segment is primarily earned from the display of advertisements on the Monster network of websites, “click-throughs” on text based links and leads provided to advertisers. The Company’s Careers segments provide online services to customers in a variety of industries throughout North America, Europe, and the Asia-Pacific region, while Internet Advertising & Fees delivers online services primarily in North America.

In May 2014, Monster revealed its “All the People, All the Jobs” strategy to drive the business and enhance its competitive position. Monster’s new strategy focuses on adding massive scale to its business to expand its total addressable market and the value it can provide to customers through a variety of new products, technologies and business models to successfully connect more people with more jobs.

Basis of Presentation

The consolidated financial statements include the accounts of the Company and all of its wholly-owned and majority-owned subsidiaries. Investments in which the Company does not have a controlling interest or is not the primary beneficiary, but has the ability to exert significant influence, are accounted for under the equity method of accounting. All inter-company accounts and transactions have been eliminated in consolidation. The noncontrolling interest in our South Korean subsidiary is recorded net of tax as Net income attributable to noncontrolling interest. We have reclassified certain amounts previously reported in our financial statements to conform to the current presentation, including amounts related to discontinued operations. Unless noted otherwise, discussions in these notes pertain to our continuing operations.

Use of Estimates

The preparation of the accompanying consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the reported amounts of assets and liabilities and revenues and expenses. These estimates include, among others, allowances for doubtful accounts, fair value of financial assets and liabilities, net realizable values on long-lived assets and deferred tax assets and liabilities, certain accrued expense accounts, deferred revenue, goodwill, revenue recognition and forfeitures associated with stock-based compensation. Actual results could differ from those estimates.

Revenue Recognition

The Company recognizes revenue on agreements in accordance with Accounting Standards Codification (“ASC”) ASC 605, Revenue Recognition.

Careers-North America and Careers-International. Our Careers-North America and Careers-International segments primarily earn revenue from the placement of job postings on the websites within the Monster network, access to the Monster network’s online resume and social profile databases, recruitment media services, applicant tracking services, online career-related solutions provided through a “Software as a Service” (“SaaS”) offering and other career-related services.

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Where appropriate, we recognize revenue in accordance with Accounting Standards Update (“ASU”) No. 2009-13, Multiple-Deliverable Revenue Arrangements, which was effective January 1, 2011. The Company’s revenue associated with multiple element contracts is based on the selling price hierarchy, which utilizes vendor-specific objective evidence or (“VSOE”) when available, third-party evidence (“TPE”) if VSOE is not available, and if neither is available, then the best estimate of selling price is used. The Company utilizes VSOE in the majority of its multiple deliverable transactions. Under this accounting guidance, to treat elements in a multi-element arrangement as separate units of accounting, each element must have standalone value upon delivery. If the element has standalone value, the Company accounts for each element separately. In determining whether elements have standalone value, the Company considers the availability of the elements from other vendors, the nature of the elements, the timing of execution of contracts for customers and the contractual dependence of the element related to a customer’s acceptance.

We recognize revenue at the time that job postings and related accessories are displayed on the Monster network websites, based upon customer usage patterns. Revenue earned from subscriptions to the Monster network’s resume and social profile databases, applicant tracking services and other career-related services are recognized over the length of the underlying subscriptions, typically from two weeks to twelve months. The Company accounts for SaaS contracts as the services are being performed.

Unearned revenues are reported on the balance sheet as deferred revenue. We review accounts receivable for those that may potentially be uncollectible and any accounts receivable balances that are determined to be uncollectible are included in our allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance.

Internet Advertising & Fees. Our Internet Advertising & Fees segment primarily earns revenue from the display of advertisements on the Monster network of websites, “click-throughs” on text based links, leads provided to advertisers and subscriptions to premium services. We recognize revenue for online advertising as “impressions” are delivered. An “impression” is delivered when an advertisement appears in pages viewed by our users. We recognize revenue from the display of click-throughs on text based links as click-throughs occur. A click-through occurs when a user clicks on an advertiser’s listing. Revenue from lead generation is recognized as leads are delivered to advertisers.

Business Combinations

We account for business combinations in accordance with ASC 805, Business Combinations. The acquisition method of accounting requires that assets acquired and liabilities assumed be recorded at their fair values on the date of a business combination. Our consolidated financial statements and results of operations reflect an acquired business from the completion date of an acquisition. See Note 4 – Business Combinations.

Discontinued Operations

The Company accounts for business dispositions and its businesses held for sale in accordance with ASC 205-20, Discontinued Operations. ASC 205-20 requires the results of operations of business dispositions to be segregated from continuing operations and reflected as discontinued operations in current and prior periods. See Note 7 – Discontinued Operations.

Marketing and Promotion

Advertising production costs are recorded as expense the first time an advertisement appears. Costs of communicating advertising are recorded as expense as advertising space or airtime is used. All other advertising costs are expensed as incurred.

Concentrations of Risk

Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents and accounts receivable. Cash and cash equivalents are maintained with several financial

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institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally these deposits may be redeemed upon demand. The Company performs continuing credit evaluations of its customers, maintains allowances for potential credit losses and does not require collateral. The Company makes judgments as to its ability to collect outstanding receivables based primarily on management’s evaluation of the customer’s financial condition, past collection history and overall aging of the receivables. Historically, such losses have been within management’s expectations. The Company has not experienced significant losses related to receivables from individual customers or groups of customers in any particular industry or geographic area.

Cash and Cash Equivalents

Cash and cash equivalents, which primarily consist of bank time deposits, are stated at cost, which approximates fair value. For financial statement presentation purposes, the Company considers all highly liquid investments having original maturities of three months or less to be cash equivalents. Outstanding checks in excess of account balances, typically payroll and other contractual obligations disbursed on or near the last day of a reporting period, are reported as current liabilities in the accompanying consolidated balance sheets.

Accounts Receivable

The Company’s accounts receivable primarily consist of trade receivables. Management reviews accounts receivable on a monthly basis to determine if any receivables will potentially be uncollectible. The Company includes any accounts receivable balances that are determined to be uncollectible in its allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available, the Company believes its allowance for doubtful accounts as of December 31, 2014 and 2013 are adequate. However, actual write-offs could exceed the recorded allowance. Including discontinued operations, the activity in the allowance for doubtful accounts is as follows:

Year Ended December 31,	Beginning Balance		Charged to Expense		Write-Offs and Other			Ending Balance
2014	$	3,995	$	1,707	$	(2,407	)	$	3,295
2013	$	4,721	$	2,367	$	(3,093	)	$	3,995
2012	$	5,240	$	4,469	$	(4,988	)	$	4,721

Included in the December 31, 2012 ending balance of $4,721 is $796 of allowance for doubtful accounts attributable to discontinued operations. There are no such amounts included in the December 31, 2014 and December 31, 2013 balances.

Property and Equipment

Computer and communications equipment, furniture and equipment and capitalized software costs are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, generally three to ten years. Leasehold improvements are stated at cost and amortized using the straight-line method, over their estimated useful lives, or the lease term, whichever is shorter.

Internal Use Software and Website Development Costs

In accordance with ASC 350-40, Internal-Use Software, the Company capitalizes costs to purchase or internally develop software for internal use, as well as costs incurred to design, develop, test and implement enhancements to its website. These costs are included in property and equipment with an estimated useful life of five years.

Patent Defense Costs

The Company capitalizes legal costs incurred in the defense of the Company’s patents when it is believed that the future economic benefit of the patent will be maintained or increased and a successful defense is probable.

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Capitalized patent defense costs are amortized over the remaining expected life of the related patent. The Company’s assessment of future economic benefit or a successful defense of its patents involves considerable management judgment, and a different conclusion or outcome of litigation could result in a material impairment charge up to the carrying value of these assets. During the year ended December 31, 2014, the Company capitalized $4,539 of legal fees associated with the defense of its patents.

Goodwill and Intangible Assets

The Company evaluates its goodwill and indefinite lived intangible assets for impairment in accordance with ASC 350, Intangibles – Goodwill and Other. Goodwill is recorded when the purchase price paid for an acquisition exceeds the estimated fair value of the net identified tangible and intangible assets acquired.

The Company tests the recorded amount of goodwill for recovery on an annual basis in the fourth quarter of each fiscal year. Goodwill is tested more frequently if indicators of impairment exist. The goodwill impairment test is performed at the reporting unit level. The Company has three reporting units which are equivalent to our three operating segments: Careers-North America, Careers-International, and Internet Advertising & Fees.

In determining if goodwill is impaired, we estimate the fair value of the reporting unit and compare it to the carrying value of the assets and liabilities of that reporting unit. The Company determines the fair value of its reporting units using a weighting of fair values derived from the income approach and the market approach, depending on the availability of relevant market comparable information. Under the income approach, the Company calculates the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management’s estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used is based on the weighted-average cost of capital adjusted for the relevant risk associated with business-specific characteristics and the uncertainty related to the business’s ability to execute on the projected cash flows. Under the market approach, the Company estimates the fair value based on market multiples of cash flow and earnings derived from comparable publicly-traded companies with similar operating and investment characteristics as the reporting unit and considering a reasonable control premium. The weighting of the fair value derived from the market approach differs for each reporting unit depending on the level of comparability of these publicly-traded companies to the reporting unit. Due to the inherent uncertainty involved in making these estimates, actual results could differ from those estimates.

As a corroborative source of information, the Company reconciles the estimated aggregate fair values of its reporting units to within a reasonable range of its market capitalization, which includes an assumed control premium (an adjustment reflecting an estimated fair value on a control basis) to verify the reasonableness of the fair value of its reporting units obtained through the aforementioned methods. The control premium is estimated based upon control premiums observed in comparable market transactions. As none of our reporting units are publicly-traded, individual reporting unit fair value determinations do not directly correlate to the Company’s stock price.

Primarily as a result of the decline in the Company’s market capitalization, management believed that there were circumstances evident which indicated that the fair value of our reporting units could be below their carrying amounts. Although the Company’s management strongly believes that the Company’s current market capitalization undervalues the aggregate fair values of our individual reporting units, we concluded that we must heavily consider the market capitalization levels when performing the 2014 annual goodwill impairment test. As such, higher discount rates were applied to forecasted cash flows. As a result of the test, it was determined that the carrying value of the Careers-North America and Internet Advertising & Fees reporting units exceeded their fair values, and the Company recorded a pre-tax goodwill impairment charge of $325,800 during the fourth quarter of 2014 ($263,000 in Careers-North America and $62,800 in Internet Advertising & Fees). On a net of tax basis, the charge was $263,047 after recognizing a tax benefit of $62,753. See Note 5 – Goodwill and Intangible Assets for additional details.

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Other intangible assets primarily consist of the value of customer relationships, trade names, resume databases, trademarks and internet domains. Amortizable intangible assets are primarily being amortized on a basis that approximates economic use, over periods ranging from two to ten years.

Indefinite-lived intangible assets are primarily evaluated on an annual basis, generally in conjunction with the Company’s evaluation of goodwill balances. In assessing fair value, we generally utilize a relief from royalty method. If the carrying value of the indefinite-lived intangible assets exceeds the fair value of the asset, the carrying value is written down to fair value in the period identified. The Company recorded an impairment charge of $1,000 on an indefinite-lived intangible asset in the fourth quarter of 2014.

Long-Lived Assets

Long-lived assets, other than goodwill and indefinite lived intangible assets, are evaluated for impairment when events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of these assets and their eventual disposition are less than their carrying amounts. As a result of the decline in our market capitalization, the Company assessed long-lived assets for impairment in the fourth quarter of 2014. It was concluded that the Company’s long-lived assets were not impaired as of December 31, 2014.

Foreign Currency Translation and Transactions

The financial position and results of operations of the Company’s foreign subsidiaries are determined using local currency as the functional currency. Assets and liabilities of these subsidiaries are translated at the exchange rate in effect at each year-end. Income statement accounts are translated at the average rate of exchange prevailing during the year. Translation adjustments arising from the use of differing exchange rates from period to period are included in accumulated other comprehensive income, a component of stockholders’ equity. Gains and losses resulting from other foreign currency transactions, including forward foreign exchange contracts, are included in interest and other, net.

Comprehensive income (loss) is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. The Company’s items of other comprehensive income (loss) are foreign currency translation adjustments, which relate to investments that are permanent in nature, net of applicable income taxes. To the extent that such amounts relate to investments that are permanent in nature, no adjustments for income taxes are made.

The Company uses forward foreign exchange contracts as economic cash flow hedges to offset risks related to foreign currency transactions. These transactions primarily relate to non-functional currency denominated inter-company funding loans and non-functional currency inter-company accounts receivable. The Company does not trade derivative financial instruments for speculative purposes. See Note 13 – Financial Derivative Instruments.

Income Taxes

We utilize the liability method of accounting for income taxes as set forth in ASC 740, Income Taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized. In evaluating our ability to recover our deferred tax assets within the jurisdictions from which they arise, we consider all available positive and negative evidence, including scheduled reversals of taxable temporary items, projected future taxable income, tax planning strategies and recent financial operations.

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Assumptions used in making this evaluation require significant judgment and are consistent with the plans and estimates we are using to manage the underlying business. When we determine that we are not able to realize our recorded deferred tax assets, an increase in the valuation allowance is recorded, decreasing earnings in the period in which such determination is made.

We assess our income tax positions and record tax benefits for all years subject to examination based upon our evaluation of the facts, circumstances and information available at the reporting date. For those tax positions where there is greater than 50% likelihood that a tax benefit will be sustained, we have recorded the largest amount of tax benefit that may potentially be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where there is a 50% or less likelihood that a tax benefit will be sustained, no tax benefit has been recognized in the financial statements.

Stock-Based Compensation

We award stock options, non-vested stock, market-based non-vested stock and performance-based non-vested stock to employees, directors and executive officers. We account for stock-based compensation in accordance with ASC 718, Stock Compensation. In accordance with ASC 718, we use the fair-market value of the Company’s common stock on the date the award is approved to measure fair value for service-based and performance-based awards, a Monte Carlo simulation model to determine both the fair value and requisite service period of market-based awards and the Black-Scholes option-pricing model to determine the fair value of stock option awards. Compensation expense for stock option awards and service-based awards is recognized ratably over the requisite service period. For market-based awards, compensation expense is recognized over the requisite service period as derived using a Monte Carlo simulation model. If an award includes both a market and performance or service condition, the requisite service period is adjusted in the event the market condition is satisfied prior to the end of the derived service period. For performance-based awards, compensation expense is recognized based on the probability of achieving the performance conditions associated with the respective shares, as determined by management.

Restructuring and Other Special Charges

The Company accounts for restructuring activities in accordance with ASC 420, Exit or Disposal Cost Obligations. Under the guidance, for the cost of restructuring activities that do not constitute a discontinued operation, the liability for the current and fair value of expected future costs associated with such restructuring activity shall be recognized in the period in which the liability is incurred. We segregate the costs of restructuring activities taken pursuant to a management approved restructuring plan.

Operating Lease Obligations

We recognize a liability for costs to terminate an operating lease obligation before the end of its term when we no longer derive economic benefit from the lease. The liability is recognized and measured at its fair value when we determine that the cease use date has occurred and the fair value of the liability is determined based on the remaining lease rentals due, reduced by estimated sublease rental income that could be reasonably obtained for the property. The estimate of subsequent sublease rental income may change and require future changes to the fair value of the liabilities for the lease obligations.

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(Loss) Earnings Per Share Attributable to Monster Worldwide, Inc.

Basic (loss) earnings per share is calculated using the Company’s weighted-average outstanding common shares. When the effects are dilutive, diluted (loss) earnings per share is calculated using the weighted-average outstanding common shares, participating securities and the dilutive effect of all other stock-based compensation awards as determined under the treasury stock method. Certain stock options and stock issuable under employee compensation plans were excluded from the computation of diluted (loss) earnings per share due to their anti-dilutive effect. A reconciliation of shares used in calculating basic and diluted (loss) earnings per share is as follows:

	The year ended December 31,
	2014		2013		2012
Basic weighted-average shares outstanding		88,045		106,947		112,866
Effect of common stock equivalents – stock options and non-vested stock under employee compensation plans(1)		—		966		1,129
Diluted weighted-average shares outstanding(1)		88,045		107,913		113,995
Weighted-average anti-dilutive common stock equivalents(1)		6,937		5,337		7,167

(1) For periods in which losses are presented, dilutive earnings per share calculations do not differ from basic earnings per share because the effects of any potential common stock equivalents are anti-dilutive and therefore not included in the calculation of dilutive earnings per share. For the year ended December 31, 2014, those potential shares totaled 3,046 which are included in the weighted average anti-dilutive common stock equivalents above, in addition to 3,891 of out of the money anti-dilutive common stock equivalents for the year ended December 31, 2014.

On October 22, 2014, the Company consummated an offering of its 3.50% convertible senior notes due 2019 (the “Notes”). Under the treasury stock method, the Notes will generally have a dilutive impact on earnings per share if the Company’s average stock price for the period exceeds approximately $5.33 per share of Monster’s common stock, the conversion price of the Notes. For the period from the consummation of the offering of the Notes through December 31, 2014, the conversion feature of the Notes was anti-dilutive.

In connection with the pricing of the Notes, Monster entered into a capped call transaction which increases the effective conversion price of the Notes, and is designed to reduce potential dilution upon conversion of the Notes. Since the beneficial impact of the capped call is anti-dilutive, it is excluded from the calculation of earnings per share. See Note 14 – Long-Term Debt for additional details.

Recently Issued Accounting Pronouncements

In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, which amends the guidance in Accounting Standard Codification (“ASC”) 205, Presentation of Financial Statements as it relates to reporting discontinued operations. The revised guidance raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the revised definition of a discontinued operation. This amended guidance is to be applied prospectively and is effective for reporting periods (interim and annual) beginning after December 15, 2014, for public companies, with early adoption permitted. The implementation of the amended accounting guidance is not expected to have a material impact on our consolidated financial position or results of operations.

In May 2014, the FASB issued ASU No. 2014-09, which supersedes the revenue recognition guidance in ASC 605, Revenue Recognition. The new guidance clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. GAAP and International Financial Reporting Standards. The standard

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outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes the most current revenue recognition guidance. This amended guidance is effective retrospectively for reporting periods (interim and annual) beginning after December 15, 2016. We are currently assessing the potential impact of this ASU on our consolidated financial position and results of operations.

2. STOCK-BASED COMPENSATION

The Company awards non-vested stock to employees, directors and executive officers in the form of Restricted Stock Awards (“RSAs”) and Restricted Stock Units (“RSUs”), market-based RSAs and RSUs, performance-based RSAs and RSUs and stock options. The Compensation Committee of the Company’s Board of Directors approves stock-based compensation awards for all employees and executive officers of the Company. The Corporate Governance and Nominating Committee of the Company’s Board of Directors approves stock-based compensation awards for all non-employee directors of the Company. The Company uses the fair-market value of the Company’s common stock on the date the award is approved to measure fair value for service-based and performance-based awards, a Monte Carlo simulation model to determine both the fair value and requisite service period of market-based awards and the Black-Scholes option-pricing model to determine the fair value of stock option awards. The Company presents as a financing activity in the consolidated statement of cash flows the benefits of tax deductions in excess of the tax-effected compensation of the related stock-based awards for the options exercised and vested RSAs and RSUs.

The Company recognized pre-tax compensation expense, excluding discontinued operations, in the consolidated statements of operations related to stock-based compensation as follows:

	The year ended December 31,
	2014		2013		2012
Non-vested stock, included in salaries and related	$	35,357	$	25,391	$	28,123
Stock options, included in salaries and related		—		—		51
Total	$	35,357	$	25,391	$	28,174

Effective November 4, 2014, Salvatore Iannuzzi resigned as Chief Executive Officer and President of the Company. In connection with his resignation, the Company accelerated the vesting of 160,501 RSAs and 2,250,000 RSUs, resulting in $4,354 of additional non-cash compensation. See Note 18 – Commitments for further discussion.

As of December 31, 2014, the Company has issued the following types of equity awards under its 2008 Equity Incentive Plan, as amended and restated:

Restricted Stock

The Company, from time to time, enters into separate non-vested share-based payment arrangements with employees, executives and directors. The Company grants RSUs that are subject to continued employment and vesting conditions, but do not have dividend or voting rights. The Company also grants RSAs that are subject to continued employment and vesting conditions, have voting rights, but do not have dividend rights. Directors of the Company receive automatic RSAs or RSUs which are measured using the fair market value of the Company’s Common Stock on the date of the grant. The Company also grants market-based RSAs and RSUs that vest contingent on meeting certain stock price targets within a specified time period, and performance-based RSAs and RSUs that vest contingent on meeting specific financial results within a specified time period.

Inclusive of discontinued operations, the tax benefits recognized on the non-vested stock-based compensation expenses were $12,154, $7,430, and $8,878 for the years ended December 31, 2014, 2013 and 2012, respectively. In the event that stock-based compensation vests at a price below the original grant date price, the recognized tax benefits will not be realized. Such tax benefit deficiencies may be charged to equity to the extent of accumulated

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excess realized tax benefits. At December 31, 2014, the Company has no remaining accumulated excess realized tax benefits. In the event that stock-based compensation vests at a price below the original grant date, the tax benefit deficiencies will be charged to the tax provision.

Service-Based Awards – During 2014, the Company granted an aggregate of 581,915 service-based RSUs to approximately 250 employees, executive officers and directors of the Company. The RSUs vest in various increments on the anniversaries of the individual grant dates, through December 9, 2019, subject to the recipient’s continued employment or service through each applicable vesting date. The Company did not grant RSAs in 2014. Compensation expense for service-based awards is recognized ratably over the requisite service period, net of estimated forfeitures.

During 2013, the Company granted an aggregate of 1,212,848 and 286,500 service-based RSAs and RSUs, respectively, to approximately 75 employees, executive officers and directors of the Company. The RSAs and RSUs vest in various increments on the anniversaries of the individual grant dates, through December 10, 2017, subject to the recipient’s continued employment or service through each applicable vesting date.

During 2012, the Company granted an aggregate of 3,156,515 and 1,229,526 service-based RSAs and RSUs, respectively, to approximately 225 employees, executive officers and directors of the Company. The RSAs and RSUs vest in various increments on the anniversaries of the individual grant dates, through December 11, 2016, subject to the recipient’s continued employment or service through each applicable vesting date.

Market-Based Awards – During 2013, the Company granted 5,340,390 market-based RSUs to approximately 450 employees that will vest contingent on meeting certain stock price targets within five years of the grant date. The market-based RSUs vest in four tranches, with each tranche equaling 25% of the award, if, and when, certain stock price targets are achieved and maintained for 15 trading days in a consecutive 30-day trading period, subject to the recipient’s continued employment and service through the one year anniversary of the target stock price being achieved. Compensation expense for market-based awards is recognized over the requisite service period as derived using a Monte Carlo simulation model, net of estimated forfeitures. No market-based RSUs were granted during 2014 or 2012.

Performance-Based Awards – During 2014, the Company granted 35,000 RSUs to 2 employees, subject to certain specified performance-based conditions. Compensation expense is recognized based on the probability of achieving the performance conditions associated with the respective shares, as determined by management, net of estimated forfeitures.

During 2013, the Company granted 3,067,200 RSUs to approximately 1,100 employees, subject to certain specified performance-based conditions. No performance-based RSUs were granted during 2012.

As of December 31, 2014, the unrecognized compensation expense related to non-vested stock was $19,638 which is expected to be recognized over a weighted-average period of 1.2 years.

The Company’s non-vested stock activity is as follows (shares in thousands):

	The year ended December 31,
	2014					2013					2012
	Shares			Weighted Average Fair Value at Grant Date		Shares			Weighted Average Fair Value at Grant Date		Shares			Weighted Average Fair Value at Grant Date
Non-vested at beginning of period		13,142		$	5.58		7,639		$	10.01		7,432		$	13.85
Granted RSAs		—			—		1,213			4.72		3,156			6.88
Granted RSUs		617			5.58		8,694			4.15		1,230			6.89
Forfeited		(472	)		5.41		(1,386	)		10.93		(1,102	)		12.14
Vested		(4,733	)		7.11		(3,018	)		5.10		(3,077	)		14.07
Non-vested at end of period		8,554		$	4.85		13,142		$	5.58		7,639		$	10.01

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In connection with the Company’s corporate restructuring programs, the Company accelerated the vesting of 418,333 RSAs and RSUs to two former executives in the second quarter of 2013, the expense of which is recorded in restructuring and discontinued operations.

Stock Options

The Company’s stock option activity is as follows (shares in thousands):

	The year ended December 31,
	2014					2013					2012
	Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Outstanding as of the beginning of the period		928		$	29.68		1,029		$	29.04		1,560		$	24.10
Exercised		—			—		—			—		(3	)		9.11
Forfeited/expired/cancelled		(782	)		29.02		(101	)		23.27		(528	)		29.10
Outstanding at end of the period		146		$	32.32		928		$	29.68		1,029		$	29.04
Options exercisable at end of period		146		$	32.32		928		$	29.68		1,029		$	29.04
Aggregate intrinsic value of options exercised during the period	$	—				$	—				$	2

Aggregate intrinsic value is calculated as the difference between the closing market price of the Company’s common stock as of each exercise date and the exercise price of the underlying options. The Company has not granted any stock options subsequent to 2008 and all options were fully expensed prior to January 1, 2014.

3. NONCONTROLLING INTEREST

In December 2013, the Company sold a 49.99% interest in JobKorea Ltd. (“JobKorea”), its wholly owned subsidiary in South Korea, to H&Q Korea for an aggregate purchase price of $90,000. H&Q Korea, an affiliate of H&Q Asia Pacific, is a pioneer in the development of Korea’s private equity industry and one of the top private equity managers in the country. Based on the terms of the agreement, Monster maintains a controlling interest in the subsidiary and, accordingly, will continue to consolidate the results of JobKorea in its consolidated financial statements.

The Company incurred transaction costs of approximately $3,500 related to the agreement with H&Q Korea, which were recorded within stockholders’ equity on the Company’s consolidated balance sheets. See Note 17 – Income Taxes for discussion on the tax impact of the transaction. The noncontrolling interest’s share of stockholders’ equity in JobKorea Ltd. is reflected as Noncontrolling interest in the Company’s consolidated balance sheets and was $54,247 as of December 31, 2014. The noncontrolling interest’s share of income from continuing operations and net loss was $5,482 and $193 for the years ended December 31, 2014 and December 31, 2013, respectively.

4. BUSINESS COMBINATIONS

In the first quarter of 2014, the Company’s Careers-North America segment purchased TalentBin, Inc., a social profile talent search engine, and Gozaik LLC, a developer of social jobs aggregation and distribution technology. Aggregate consideration for the acquisitions was $27,005 in cash, net of cash acquired, with $1,750 of the consideration in escrow. The Company recorded $25,061 of goodwill, $907 of deferred tax assets, $1,740 of purchased technology, $730 of other intangibles, $249 of other assets and $1,482 of liabilities related to the acquisitions. Of the goodwill recorded, approximately $10,500 will be deductible for tax purposes. Revenue and operating results of the acquired entities are not presented due to immateriality.

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5. GOODWILL AND INTANGIBLE ASSETS

The Company tests the recorded amount of goodwill for recovery on an annual basis in the fourth quarter of each fiscal year. Goodwill is tested more frequently if indicators of impairment exist. The goodwill impairment test is performed at the reporting unit level. Prior to the sale of Careers-China on February 5, 2013, the Company had four reporting units which were equivalent to our four operating segments: Careers-North America, Careers-International, Careers-China, presented for all impacted periods as a discontinued operation, and Internet Advertising & Fees. Following the sale of the Careers-China business, the Company has three reporting units which are equivalent to our three operating segments: Careers-North America, Careers-International, and Internet Advertising & Fees.

In determining if goodwill is impaired, we estimate the fair value of the reporting unit and compare it to the carrying value of the assets and liabilities of that reporting unit. The Company determines the fair value of its reporting units using a weighting of fair values derived from the income approach and the market approach, depending on the availability of relevant market comparable information. Under the income approach, the Company calculates the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management’s estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used is based on the weighted-average cost of capital adjusted for the relevant risk associated with business-specific characteristics and the uncertainty related to the business’s ability to execute on the projected cash flows. Under the market approach, the Company estimates the fair value based on market multiples of cash flows and earnings derived from comparable publicly-traded companies with similar operating and investment characteristics as the reporting unit and considering a reasonable control premium. The weighting of the fair value derived from the market approach differs for each reporting unit depending on the level of comparability of these publicly-traded companies to the reporting unit. Due to the inherent uncertainty involved in making these estimates, actual results could differ from those estimates.

As a corroborative source of information, the Company reconciles the estimated aggregate fair values of its reporting units to within a reasonable range of its market capitalization, which includes an assumed control premium (an adjustment reflecting an estimated fair value on a control basis) to verify the reasonableness of the fair value of its reporting units obtained through the aforementioned methods. The control premium is estimated based upon control premiums observed in comparable market transactions. As none of our reporting units are publicly-traded, individual reporting unit fair value determinations do not directly correlate to the Company’s stock price. We monitor changes in our share price to ensure that our reconciled market capitalization continues to exceed or is not significantly below the carrying value of our net assets. In the event that our reconciled market capitalization does decline below its book value, we consider the length and severity of the decline and the reason for the decline when assessing whether potential goodwill impairment exists. Further, if a reporting unit does not appear to be achieving the projected growth plan used in determining its fair value, we will reevaluate the reporting unit for potential goodwill impairment based on revised projections, as available.

In the fourth quarter of 2014, primarily due to the decline of our market capitalization and the implications such decline had on the carrying value of our goodwill, which resulted in higher discount rates applied to forecasted cash flows, management concluded that there were circumstances evident which indicated the fair value of our reporting units could be below their carrying amounts. Although the Company’s management strongly believes that the Company’s current market capitalization undervalues the aggregate fair values of our individual reporting units, we concluded that we must heavily consider the market capitalization levels when performing the 2014 annual impairment test.

With the assistance of a third party valuation firm, we completed the first step of the impairment evaluation process in comparing the fair value of our reporting units to their respective carrying values. The Careers-International reporting unit had a fair value that substantially exceeded its carrying value. The Careers-North America and Internet Advertising & Fees reporting units had carrying values which exceeded the respective fair values of the reporting units and therefore, the Company was required to complete the second step of the impairment evaluation for those reporting units.

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The second step of the impairment evaluation calculates the implied fair value of the goodwill, which is compared to the carrying value of goodwill. The implied fair value of goodwill is calculated by valuing all identifiable assets and liabilities of the reporting units with potential impairment, as indicated in step one, at the hypothetical fair value, assuming the reporting units had been acquired in a business combination. The excess fair value of the reporting units over the fair value of their identifiable assets and liabilities is the implied fair value of goodwill. Based upon the calculation of the implied fair value of goodwill, it was determined that the carrying value of goodwill exceeded the implied fair value of goodwill for the Careers-North America and Internet Advertising & Fees reporting units, therefore the Company recorded a pre-tax goodwill impairment charge of $325,800 during the fourth quarter of 2014 ($263,000 in Careers-North America and $62,800 in Internet Advertising & Fees). On a net of tax basis, the charge was $263,047 after recognizing a tax benefit of $62,753. See Note 17 – Income Taxes for discussion on the tax impact of the impairment charge.

During the third quarter of 2012, the Company performed a qualitative analysis for the Careers-China reporting unit and it was determined that the Careers-China reporting unit was more likely than not to have a fair value less than the unit’s carrying amount. The conclusion was based on the recent financial performance of Careers-China compared to previously forecasted results, updated projections of future profitability as well as indicative offers from potential buyers of the Careers-China business (see Note 7 – Discontinued Operations). Accordingly, the Company performed a step one fair value evaluation of Careers-China utilizing both a discounted cash flow analysis and the indicative offers from potential buyers of the Careers-China business. The result of this fair value analysis was that the fair value of the reporting unit was less than the carrying value and a step two analysis was required to determine the amount of goodwill impairment, if any. The Company performed the step two evaluation and determined that goodwill for the Careers-China reporting unit was impaired and recorded a goodwill impairment charge for Careers-China of $216,221. In the fourth quarter of 2012, the Company impaired the remaining goodwill balance of the Careers-China business and recorded an additional $46,429 impairment, leaving the Careers-China business with no goodwill.

A summary of changes in goodwill by reportable segment are as follows:

	Careers- North America			Careers- International			Internet Advertising & Fees			Total
Balance as of December 31, 2013:
Goodwill	$	598,114		$	408,464		$	151,590		$	1,158,168
Accumulated impairment losses		—			(262,650	)		—			(262,650	)
Net goodwill as of December 31, 2013		598,114			145,814			151,590			895,518
Acquisition activity		25,061			—			—			25,061
Write-off in connection with deconsolidation of subsidiaries		—			(4,057	)		—			(4,057	)
Impairment		(263,000	)		—			(62,800	)		(325,800	)
Translation and other adjustments, net		—			(50,101	)		—			(50,101	)
Balance as of December 31, 2014:
Goodwill		623,175			354,306			151,590			1,129,071
Accumulated impairment losses		(263,000	)		(262,650	)		(62,800	)		(588,450	)
Net goodwill as of December 31, 2014	$	360,175		$	91,656		$	88,790		$	540,621

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The Company’s intangible assets, excluding the assets of the discontinued operations, consisted of the following:

	December 31, 2014					December 31, 2013
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization			Weighted Average Amortization Period (Years)
Customer relationships	$	48,856	$	(47,785	)	$	49,808	$	(48,895	)	2
Trademarks/Internet domains		14,297		—			15,240		—		Indefinite lived
Trade Names		7,786		(2,181	)		10,600		(3,926	)	3
Patents		8,428		(584	)		718		(52	)	5
Other		32,986		(31,300	)		29,798		(29,233	)	2
Total	$	112,353	$	(81,850	)	$	106,164	$	(82,106	)

The Company recorded amortization expense, excluding discontinued operations, of $2,624 , $9,234 and $12,353 relating to its intangible assets for the years ended December 31, 2014, 2013 and 2012, respectively. In addition, the Company recorded an impairment charge of $1,000 on an indefinite-lived intangible asset in the fourth quarter of 2014.

Based on the carrying value of identified intangible assets recorded as of December 31, 2014, and assuming no subsequent impairment of the underlying assets, the estimated annual amortization expense for the next five years is as follows:

	2015		2016		2017		2018		2019
Estimated amortization expense	$	2,974	$	2,640	$	2,631	$	2,534	$	1,722

6. RESTRUCTURING AND OTHER SPECIAL CHARGES

November 2012 Restructuring

On November 8, 2012, the Company announced actions designed to concentrate resources on core businesses within North America and key European and Asian markets with increased spending in marketing and sales. The actions subsequently included (i) the sale of the Careers-China business which was completed on February 5, 2013, (ii) the exiting of the business operations in Latin America and Turkey and (iii) a strategic restructuring inclusive of a reduction in force, office consolidations and impairment of certain assets. See Note 7 – Discontinued Operations, for more information relating to the sale of the Careers-China business and the exiting of our businesses in Latin America and Turkey.

Through December 31, 2013, the Company notified approximately 400 associates in North America and Europe (excluding discontinued operations). The Company does not expect to incur significant additional charges in future periods relating to this program. The following table displays a roll forward of the November 2012 Restructuring and other special charges and related liability balances, excluding discontinued operations:

	Accrual at December 31, 2013		Expense		Cash Payments			Non-Cash Utilization		Accrual at December 31, 2014
Workforce reduction	$	1,057	$	—	$	(648	)	$	—	$	409
Consolidation of office facilities		4,063		—		(1,535	)		—		2,528
Other costs and professional fees		128		—		(124	)		—		4
Total	$	5,248	$	—	$	(2,307	)	$	—	$	2,941

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	Accrual at December 31, 2012		Expense		Cash Payments			Non-Cash Utilization			Accrual at December 31, 2013
Workforce reduction	$	11,902	$	9,645	$	(18,669	)	$	(1,821	)	$	1,057
Consolidation of office facilities		—		6,028		(1,965	)		—			4,063
Impairment of assets		—		3,494		—			(3,494	)		—
Other costs and professional fees		83		828		(783	)		—			128
Total	$	11,985	$	19,995	$	(21,417	)	$	(5,315	)	$	5,248

7. DISCONTINUED OPERATIONS

During the third quarter of 2012, as part of the Company’s review of strategic alternatives, the Company made the decision to sell its Careers-China business. The sale of the Careers-China business to Saongroup, Ltd. (“Saongroup”) was completed on February 5, 2013. The Company received a 10% minority interest in the combined Chinese business of Saongroup. The Company’s 10% minority interest does not provide the Company with representation on the board of directors, the Company is not entitled to any dividend or other forms of cash returns and the Company is not required to make any capital contributions in the future. The Company recognizes the 10% interest as a cost basis investment with an estimated fair value of zero which is based on available information.

Prior to the close of the sale of Careers-China, the Company incurred charges relating to severance benefits associated with terminated employees, retention benefits for employees who remained with the combined operations and certain lease obligation costs. At February 5, 2013, there was $23,109 of accumulated unrealized currency translation gain related to the net assets of Careers-China. With the sale of Careers-China on February 5, 2013, the Company recorded the foreign currency translation adjustment as a reduction of the loss from discontinued operations. On October 25, 2013, the Company received $1,846 of funds previously held in escrow relating to the sale of Careers-China, which has been recorded as a gain in the consolidated statements of operations in the year ended December 31, 2013. Additionally, the Company recorded a tax benefit of $4,916 for the year ended December 31, 2013. Accordingly, the Company recorded a loss from discontinued operations related to Careers-China, net of tax, of $1,724 in the year ended December 31, 2013. The Company does not expect to incur significant additional charges in future periods relating to Careers-China.

As disclosed in Note 5 – Goodwill and Intangible Assets, the Company recorded a goodwill impairment charge for 100% of the goodwill attributable to Careers-China in the amount of $262,650 in the year ended December 31, 2012. Further, in 2012, the Company recorded an impairment of $5,205 relating to amortizable intangibles. Finally, as disclosed in Note 17- Income Taxes, the Company recorded a full valuation allowance of $9,710 associated with Careers-China deferred tax assets during the year ended December 31, 2012.

During the fourth quarter of 2012, the Company made the strategic decision to discontinue operations in Latin America and Turkey. All of the Latin America and Turkey business operations were discontinued on or before December 31, 2012. The Company incurred approximately $8,000 of costs associated with the shutdown of these businesses in the fourth quarter of 2012. For the year ended December 31, 2013, the Company recorded additional costs of $3,565 primarily relating to severance costs associated with terminated employees of our operations in Latin America and Turkey. Additionally, the Company recorded a tax benefit of $1,491 for the year ended December 31, 2013. Accordingly, the Company recorded a loss from discontinued operations related to Latin America and Turkey, net of tax, of $2,074 in the year ended December 31, 2013. The Company does not expect to incur significant additional charges in future periods relating to Latin America or Turkey.

In the aggregate, the Company’s head count was reduced by approximately 1,000 employees as a result of the sale of Careers-China and the exiting of Latin America and Turkey.

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Operating results for Careers-China, Latin America and Turkey, which had previously been included in the Company’s consolidated statement of operations, have been reclassified as discontinued operations for all periods presented. Summarized results of our discontinued operations are as follows:

	The year ended December 31,
	2014		2013			2012
Net revenue	$	—	$	2,399		$	45,590
Loss from discontinued operations, net of tax	$	—	$	(3,798	)	$	(316,886	)

There were $268 and $1,049 of liabilities associated with our discontinued operations as of December 31, 2014 and December 31, 2013, respectively. The liabilities have been classified as current and are included in accounts payable, accrued expenses and other in the Company’s consolidated balance sheets.

8. PROPERTY AND EQUIPMENT, NET

The Company’s property, equipment and accumulated depreciation balances are as follows:

	December 31, 2014		December 31, 2013
Capitalized software costs	$	209,007	$	200,567
Furniture and equipment		16,196		22,785
Leasehold improvements		40,103		41,573
Computer and communications equipment		160,414		183,765
		425,720		448,690
Less: accumulated depreciation		305,991		324,521
Property and equipment, net	$	119,729	$	124,169

Internally developed software costs capitalized were $28,024, $24,901, and $32,604 for the years ended December 31, 2014, 2013 and 2012, respectively, and are included in property and equipment, net in the Company’s consolidated balance sheets.

Depreciation expense, excluding discontinued operations, was $46,019, $49,922 and $51,926 or the years ended December 31, 2014, 2013 and 2012, respectively. During the first quarter of 2014, the Company vacated, and wrote off assets associated with, its office facilities in Maynard, Massachusetts and Cambridge, Massachusetts and moved in to our new corporate headquarters in Weston, Massachusetts.

9. FAIR VALUE MEASUREMENT

The Company values its assets and liabilities using the methods of fair value as described in ASC 820, Fair Value Measurements and Disclosures. ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The three levels of fair value hierarchy are described below:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability.

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In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, and considers counterparty credit risk in its assessment of fair value. Observable or market inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s assumptions based on the best information available. There have been no transfers of assets or liabilities between the fair value measurement classifications in the year ended December 31, 2014.

The Company has certain assets and liabilities that are required to be recorded at fair value on a recurring basis in accordance with accounting principles generally accepted in the United States. The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of December 31, 2014:

	December 31, 2014
	Level 1		Level 2		Level 3		Total
Assets:
Bank time deposits	$	—	$	60,553	$	—	$	60,553
Foreign exchange contracts		—		74		—		74
Total Assets	$	—	$	60,627	$	—	$	60,627
Liabilities:
Foreign exchange contracts	$	—	$	265	$	—	$	265
Lease exit liabilities		—		—		8,515		8,515
Total Liabilities	$	—	$	265	$	8,515	$	8,780

The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of December 31, 2013:

	December 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Bank time deposits	$	—	$	46,881	$	—	$	46,881
U.S. and foreign government obligations		—		1,595		—		1,595
Bankers’ acceptances		—		8,475		—		8,475
Foreign exchange contracts		—		255		—		255
Total Assets	$	—	$	57,206	$	—	$	57,206
Liabilities:
Foreign exchange contracts	$	—	$	9	$	—	$	9
Lease exit liabilities		—		—		12,550		12,550
Total Liabilities	$	—	$	9	$	12,550	$	12,559

We recognize a liability for costs to terminate an operating lease obligation before the end of its term when we no longer derive economic benefit from the lease. The lease exit liabilities within the Level 3 tier relate to vacated facilities associated with previously discontinued operations, restructuring activities of the Company and consolidation of office facilities and are recorded in accrued expenses and other current liabilities in the consolidated balance sheets. The liability is recognized and measured based on a discounted cash flow model when the cease use date has occurred. The fair value of the liability is determined based on the remaining lease rentals due, reduced by estimated sublease rental income that could be reasonably obtained for the property. In the first quarter of 2014, the Company vacated its office facilities in Maynard, Massachusetts and Cambridge, Massachusetts and moved in to our new corporate headquarters in Weston, Massachusetts.

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The changes in the fair value of the Level 3 liabilities are as follows:

	Lease Exit Liability
	Year ended December 31,
	2014			2013
Balance, Beginning of Period	$	12,550		$	14,233
Expense		7,208			6,225
Cash Payments and changes in fair value		(11,243	)		(7,908	)
Balance, End of Period	$	8,515		$	12,550

The carrying value for cash and cash equivalents, accounts receivable, accounts payable, certain accrued expenses and other current liabilities approximate fair value because of the immediate or short-term maturity of these financial instruments. The Company’s debt relates to its 3.50% convertible senior notes due 2019 and borrowings under its revolving credit facilities and term loan (see Note 14 – Long-Term Debt). Our borrowings under our credit facilities approximate fair value due to the debt bearing fluctuating market interest rates. The carrying amounts of the convertible senior notes approximate fair value giving affect for the term of those notes and the effective interest rates.

10. CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME

The amounts recognized in accumulated other comprehensive income were as follows:

	Foreign Currency Translation Adjustments
	Year ended December 31,
	2014			2013
Beginning balance	$	63,368		$	87,162
Other comprehensive loss before reclassifications		(55,942	)		(685	)
Amounts reclassified from accumulated other comprehensive income		1,819			(23,109	)
Net current period change in accumulated other comprehensive income		(54,123	)		(23,794	)
Ending balance	$	9,245		$	63,368

Amounts reclassified from accumulated other comprehensive income to income were as follows:

	Affected Line Item in the Statement Where Net Income Is Presented	Year ended December 31,
Details about AOCI Components		2014		2013
Foreign currency translation adjustments
Deconsolidation of foreign subsidiaries	Gain on deconsolidation of subsidiaries, net	$	1,819	$	—
Sale of foreign entity	Loss from discontinued operations, net of tax		—		(23,109	)
Total reclassifications		$	1,819	$	(23,109	)

11. DECONSOLIDATION OF SUBSIDIARIES

Prior to January 3, 2014, the Company had a 25% equity investment in a company located in Finland related to a business combination completed in 2001, with the remaining 75% held by Alma Media Corporation (“Alma Media”). Alma Media is a leading media company based in Finland, focused on digital services and publishing in Finland, the Nordic countries, the Baltics and Central Europe. Effective January 3, 2014, the Company expanded its relationship with Alma Media. Monster and Alma Media each contributed several additional entities and

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businesses into the existing joint venture and formed a significantly larger joint venture where Monster has an equity ownership of 15% with the opportunity to increase ownership up to 20%. The Company also contributed cash of approximately $6,500. Following closing, Monster no longer held a controlling interest in its subsidiaries in Poland, Hungary and the Czech Republic and therefore deconsolidated those subsidiaries effective January 3, 2014. The Company accounts for its investment under the equity method of accounting due to the Company’s ability to exert significant influence over the financial and operating policies of the new joint venture, primarily through our representation on the board of directors.

The Company recorded a gain of $13,647 as a result of the deconsolidation. The gain was measured as the difference between (a) the net fair value of the retained noncontrolling investment and the consideration transferred and (b) the carrying value of the contributed entities’ net assets of approximately $4,200. The fair value of the retained noncontrolling investment was approximately $24,800 which was determined based on the present value of estimated future cash flows and comparable market transactions. Cash flow projections were based on estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used was based on the weighted-average cost of capital adjusted for the relevant risk associated with the business-specific characteristics and the uncertainty related to the business’s ability to execute on the projected cash flows. The Company also recognized $1,819 of accumulated unrealized currency translation loss related to the net assets of the subsidiaries contributed by Monster.

As a result of the deconsolidation, the Company recorded a net gain of $11,828 to Gain on deconsolidation of subsidiaries, net in the first quarter of 2014. See Note 17 – Income Taxes for discussion on the tax impact of the deconsolidation.

12. INVESTMENTS

Equity Method Investments

The Company accounts for investments through which it holds a noncontrolling interest and has the ability to exert significant influence using the equity method of accounting, recording its owned percentage of the investment’s net results of operations in loss in equity interests, net, in the Company’s consolidated statement of operations. Such losses reduce the carrying value of the Company’s investment and gains increase the carrying value of the Company’s investment. Dividends paid by the equity investee reduce the carrying amount of the Company’s investment.

As discussed in Note 11 – Deconsolidation of Subsidiaries, through January 3, 2014, the Company had a 25% equity investment in a company located in Finland related to a business combination completed in 2001. The Company received a dividend of $658 in the first quarter of 2013 and $728 in the second quarter of 2012 for this investment. The carrying value of the investment was $220 as of December 31, 2013. Effective January 3, 2014, the Company has a 15% equity investment in Alma Career Oy, a joint venture in Finland, Eastern Europe and the Baltics with Alma Media. The Company received a dividend of $199 in the second quarter of 2014 for this investment. The carrying value of the investment was $20,404 as of December 31, 2014, and was recorded on the consolidated balance sheet as a component of investment in unconsolidated affiliates in the Company’s consolidated balance sheets.

In 2008, the Company acquired a 50% equity interest in a company located in Australia. In the years ended December 31, 2014, 2013 and 2012, the Company expended an additional $1,331, $1,897, and $2,077, respectively, for additional working capital requirements relating to the Australian investment. The carrying value of the investment was $296 and $0 as of December 31, 2014 and 2013, respectively, and was recorded on the Company’s consolidated balance sheets as a component of investment in unconsolidated affiliates.

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Income (loss) in equity interests, net are as follows by equity investment:

	The year ended December 31,
	2014			2013			2012
Alma Career Oy	$	596		$	—		$	—
Finland		—			343			573
Australia		(674	)		(1,251	)		(1,654	)
Loss in equity interests, net	$	(78	)	$	(908	)	$	(1,081	)

13. FINANCIAL DERIVATIVE INSTRUMENTS

The Company uses forward foreign exchange contracts as economic cash flow hedges to offset risks related to foreign currency transactions. These transactions primarily relate to non-functional currency denominated inter-company funding loans and non-functional currency inter-company accounts receivable.

The fair value position (recorded in interest and other, net, in the consolidated statements of operations and comprehensive loss) of our derivatives are as follows:

	December 31, 2014
	Component of	Notional Amount		Maturity Dates		Fair Value
Designated as Hedges under ASC 815
None		$	—			$	—
Not Designated as Hedges under ASC 815
Foreign currency exchange forwards	Prepaid and other		15,902		January 2015		74
Foreign currency exchange forwards	Accrued expenses and other current liabilities		25,378		January 2015		(265	)
Total Derivative Instruments		$	41,280			$	(191	)
	December 31, 2013
	Component of	Notional Amount		Maturity Dates		Fair Value
Designated as Hedges under ASC 815
None		$	—			$	—
Not Designated as Hedges under ASC 815
Foreign currency exchange forwards	Prepaid and other		43,265		January 2014		255
Foreign currency exchange forwards	Accrued expenses and other current liabilities		4,757		January 2014		(9	)
Total Derivative Instruments		$	48,022			$	246

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The amounts of unrealized and realized net gains and changes in the fair value of our derivative positions are as follows:

	Location of Realized Net Gains and Changes in the Fair Value of Forward Contracts	Amount of Realized Net Gains and Changes in the Fair Value of Forward Contracts
		The year ended December 31,
		2014		2013		2012
Foreign currency exchange forwards	Interest and Other, net	$	48	$	644	$	2,060
	Discontinued Operations		—		160		—
		$	48	$	804	$	2,060

14. LONG-TERM DEBT

Long-term debt, net of discounts where applicable, is summarized as follows:

	December 31,
	2014			2013
3.50% convertible senior notes due 2019	$	143,750		$	—
Credit facilities		87,750			135,275
Unamortized discount on convertible senior notes		(20,116	)		—
		211,384			135,275
Less: current portion of long-term debt		9,563			9,375
Long-term debt, net, less current portion	$	201,821		$	125,900

3.50% Convertible Senior Notes Due 2019

On October 22, 2014, the Company consummated an offering of $143,750 aggregate principal amount of its 3.50% convertible senior notes due 2019 (the “Notes”), which includes $18,750 in aggregate principal amount of Notes sold pursuant to the over-allotment option that was previously granted to the initial purchasers of the Notes and exercised by the initial purchasers on October 21, 2014. The Company received net proceeds of $139,031 from the sale of the Notes, after deducting fees and expenses of $4,719. The Notes are unsecured, senior obligations of Monster, that bear interest at a rate of 3.50% per annum, payable in arrears on April 15 and October 15 of each year to holders of record at the close of business on the preceding April 1 and October 1, respectively. The Notes will mature on October 15, 2019, unless converted or repurchased in accordance with their terms prior to such date.

In connection with the offering of the Notes, Monster entered into capped call transactions with an affiliate of one of the initial purchasers. The Company used $16,531 of the net proceeds to pay for the cost of the capped call transactions, $82,500 to repay in full the term loan outstanding as of the date of issuance, and $40,000 to repay a portion of the loans outstanding under the revolving credit facility.

The conversion rate for the Notes is initially 187.7405 shares per one thousand dollar principal amount of the Notes, which is equivalent to an initial conversion price of approximately $5.33 per share of Monster’s common stock (“Common Stock”), and is subject to adjustment in certain circumstances. Unless and until Monster obtains stockholder approval to issue upon conversion of the Notes more than 19.99% of the outstanding shares of Common Stock, Monster will settle conversions of the Notes by paying cash up to the principal amount of any converted Notes and delivering Common Stock and/or paying cash in respect of any remaining conversion obligation, and the number of shares of Common Stock issuable upon conversion of the Notes will be subject to

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such cap. If Monster obtains stockholder approval to issue upon conversion of the Notes more than 19.99% of the outstanding shares of Common Stock on the date the Notes were priced, Monster will settle conversions of the Notes by paying or delivering, as the case may be, cash, shares of Common Stock or a combination thereof, at its election. Monster will not have the right to redeem the Notes prior to maturity. The maximum number of shares of common stock the Notes are convertible into is approximately 27,000,000, and is subject to adjustment under certain circumstances.

The Notes will be convertible at the option of holders only under the following circumstances:

(1) Prior to the business day immediately preceding January 15, 2019, during any calendar quarter commencing after the calendar quarter ended on December 31, 2014 (and only during such calendar quarter), if the last reported sale price of Common Stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;

(2) Prior to the business day immediately preceding January 15, 2019, during the five business day period after any five consecutive trading day period (the “Measurement Period”) in which the trading price as defined in the Indenture per one thousand dollar principal amount of the Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of Common Stock and the conversion rate on each such trading day;

(3) Prior to the business day immediately preceding January 15, 2019, upon the occurrence of specified corporate events; or

(4) At any time on or after January 15, 2019 until the close of business on the second scheduled trading day immediately preceding the October 15, 2019 maturity date.

Further, holders may require the Company to purchase all or a portion of their Notes at a purchase price in cash equal to 100% of the principal amount at maturity of the Notes to be purchased, plus accrued and unpaid interest upon certain fundamental changes.

In accordance with ASC 470-20, Debt with Conversion and Other Options, the Notes were separated into debt and equity components and assigned a fair value. The value assigned to the debt component was the estimated fair value, as of the issuance date, of similar debt without the conversion feature. The difference between the cash proceeds and this estimated fair value represents the value which was assigned to the equity component and was recorded as a debt discount. The debt discount is being amortized using the effective interest method from the date of issuance through the October 15, 2019 maturity date.

The initial debt component of the Notes was valued at $122,829, based on the contractual cash flows discounted at an appropriate market rate for non-convertible debt at the date of issuance. The carrying value of the permanent equity component reported in additional paid-in-capital was initially valued at $20,228, which is net of $693 of fees and expenses allocated to the equity component.

The capped call transactions are expected generally to reduce potential dilution to the Common Stock and/or offset cash payments Monster would have to make in excess of the principal amount of any converted Notes in the event that the market price per share of Common Stock, as measured under the terms of the capped call transaction, is greater than the strike price of the capped call transaction, which will initially correspond to the conversion price of the Notes and be subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the Notes. The cap price under the capped call transaction is initially $7.035 per share, and is subject to certain adjustments under the terms of the capped call transaction. The capped call transaction has been included as a net reduction to additional paid-in capital within stockholders’ equity in accordance with ASC 815-40, Derivatives and Hedging – Contracts in Entity’s Own Equity.

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Credit Facilities

On March 22, 2012, the Company amended its then-existing credit agreement in its entirety (the “Second Amended Credit Agreement”). The Second Amended Credit Agreement provided the Company with a $225,000 revolving credit facility and a $100,000 term loan facility, for a total of $325,000 in credit available to the Company. The obligations under the Second Amended Credit Agreement were set to mature on March 22, 2015. The Second Amended Credit Agreement did not qualify as a debt extinguishment in accordance with ASC 470 – Debt, and all financing fees incurred were deferred were being amortized through March 2015.

On October 15, 2014, the Company entered into an amendment of the Second Amended Credit Agreement that (i) permitted the offering of the Notes and the conversion of the Notes into cash and/or equity of the Company, (ii) permitted the Company to enter into a capped call transaction and (iii) required that the Company use the proceeds from the offering of the Notes (net of reasonable and documented fees and expenses incurred in connection with the offering and the net cost of the capped call transaction), to repay the term loan facility and revolving debt under the Second Amended Credit Agreement (with no corresponding reduction of the then-existing revolving credit facility).

On October 31, 2014, the Company amended and restated the Second Amended Credit Agreement (the “Third Amended Credit Agreement”). The Third Amended Credit Agreement provides the Company with a $100,000 revolving credit facility and $90,000 term loan facility, providing for a total of $190,000 in credit available to the Company. The borrowings under the Third Amended Credit Agreement were used to satisfy the obligations under the Second Amended Credit Agreement of $98,900 under the revolving credit facility. Each of the revolving credit facility and the term loan facility matures on October 31, 2017. The Third Amended Credit Agreement partially qualifies as a debt extinguishment in accordance with ASC 470 – Debt. Accordingly, the Company expensed $388 of financing fees classified as a debt extinguishment through interest & other, net during the fourth quarter of 2014. The remaining $2,766 of financing fees will be deferred and amortized through October 2017.

The Company is required to make quarterly amortization payments on the outstanding principal amount of the term loans, with $2,250 payable on each of March 31, 2015, June 30, 2015, and September 30, 2015, $2,813 payable on each of December 31, 2015, March 31, 2016, June 30, 2016, and September 30, 2016, $3,375 payable on each of December 31, 2016, March 31, 2017, June 30, 2017, and September 30, 2017, and the remaining balance of the term loan due at maturity.

Borrowings under the Third Amended Credit Agreement bear interest at a rate equal to either (i) the London Interbank Offered Rate (“LIBOR”) plus a margin ranging from 250 basis points to 325 basis points depending on the Consolidated Leverage Ratio as defined in the Third Amended Credit Agreement or upon the Company’s election (ii) the sum of (A) the highest of (1) the Agent’s prime rate, (2) the sum of 0.50% plus the overnight federal funds rate on such day or (3) LIBOR plus 1.0%, plus (B) a margin ranging from 150 basis points to 225 basis points depending on the Company’s Consolidated Leverage Ratio. In addition, the Company will be required to pay the following fees: (i) a fee on all outstanding amounts of letters of credit at a rate per annum ranging from 250 basis points to 325 basis points (depending on the Consolidated Leverage Ratio); and (ii) a commitment fee on the unused portion of the revolving credit facility at a rate per annum ranging from 35 basis points to 50 basis points (depending on the Consolidated Leverage Ratio).

The Third Amended Credit Agreement contains financial covenants requiring the Company to maintain: (i) a consolidated leverage ratio of no more than 2.75 to 1.00, as of the end of each fiscal quarter ending after the closing date through the fiscal quarter ending March 31, 2015, and 2.50 to 1.00, as of the end of the fiscal quarter ending June 30, 2015, and each fiscal quarter ending thereafter; and (ii) a consolidated Fixed Charge Coverage Ratio, as defined in the Third Amended Credit Agreement, of at least 1.50 to 1.00. The Third Amended Credit Agreement also contains various other negative covenants, including restrictions on incurring indebtedness, creating liens, mergers, dispositions of property, dividends and stock repurchases, acquisitions and other investments and entering into new lines of business. The Third Amended Credit Agreement also contains various

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affirmative covenants, including covenants relating to the delivery of financial statements and other financial information, maintenance of property, maintenance of insurance, maintenance of books and records, further assurances regarding collateral and compliance with environmental laws. The Third Amended Credit Agreement is secured by substantially all of the Company’s domestic assets, other than real estate and certain other excluded assets. As of December 31, 2014, the Company was in full compliance with its covenants.

On February 5, 2015, the Company entered into an amendment of the Third Amended Credit Agreement to provide the Company with flexibility in connection with its “Reallocate to Accelerate” cost savings initiatives. The amendment provides that up to $20,000 of costs and restructuring charges incurred during the fiscal year ending December 31, 2015 will be added back to Consolidated EBITDA, which is a component of the Consolidated Leverage Ratio and the Consolidated Fixed Charge Coverage Ratio.

At December 31, 2014, the utilized portion of this credit facility was $87,750 in borrowings on the term loan facility, $0 borrowings on the revolving credit facility, and $303 in outstanding letters of credit. The portion of the term loan that is due within one year is $9,563 and is classified as short-term in the consolidated balance sheet. The remaining amount outstanding on the term loan is classified as long-term debt in the Company’s consolidated balance sheets. As of December 31, 2014, based on the calculation of the maximum consolidated leverage ratio, $26,860 of the Company’s revolving credit facility was available. At December 31, 2014, the one month BBA LIBOR rate, the agent’s prime rate, and the overnight federal funds rate were 0.17%, 3.25% and 0.06%, respectively. As of December 31, 2014, the Company used the one month BBA LIBOR rate for the interest rate on these borrowings with an interest rate of 3.16%.

15. SUPPLEMENTAL CASH FLOW AND BALANCE SHEET INFORMATION

Supplemental cash flow information to the consolidated statements of cash flows was as follows, including discontinued operations:

	Year Ended December 31,
	2014		2013		2012
Interest paid	$	7,390	$	7,422	$	11,100
Income tax paid, net		7,843		3,544		16,654
Non-cash investing and financing activities:
Net assets of entities contributed to Alma Career Oy		4,200		—		—
Excess income tax benefit from equity compensation plans		199		5,907		—

The following are a component of accrued expenses and other current liabilities:

	Year Ended December 31,
	2014		2013		2012
Accrued Salaries, benefits, commissions, bonuses and payroll taxes	$	40,466	$	40,859	$	41,460

16. STOCKHOLDERS’ EQUITY

Share Repurchase Plan

On October 25, 2011, the Board of Directors of the Company authorized a share repurchase program of up to $250,000 which expired on April 25, 2013. During the year ended December 31, 2012, the Company repurchased 8,481,453 shares at an average price of $7.72 per share. From the date of the inception of this repurchase program through expiration, the Company repurchased 13,986,349 shares at an average price of $7.67 per share. No share repurchases were made during the year ended 2013 related to this program.

On April 30, 2013, the Board of Directors of the Company authorized a share repurchase program of up to $200,000. Under the share repurchase program, shares of common stock will be purchased on the open market or

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through privately negotiated transactions from time-to-time through April 30, 2015. The timing and amount of purchases will be based on market conditions, corporate and legal requirements and other factors. The share repurchase program does not obligate the Company to acquire any specific number of shares in any period, and may be modified, suspended, extended or discontinued at any time without prior notice. During the year ended December 31, 2014, the Company repurchased 7,125,988 shares for a total of $51,927, excluding commissions, at an average price of $7.29 per share. From the date of the inception of this repurchase program through December 31, 2014, the Company repurchased 27,717,428 shares for a total of $158,683, excluding commissions, at an average price of $5.73 per share. The Company currently has $41,317 remaining under this repurchase program.

Equity Plans

In June 1999, the Company’s stockholders approved the adoption of the 1999 Long Term Incentive Plan (the “1999 Plan”) pursuant to which stock options, stock appreciation rights, restricted stock and other equity based awards were permitted to be granted. Stock options granted under the 1999 Plan were permitted to be incentive stock options or nonqualified stock options within the meaning of the Code. Following the adoption of the 2008 Plan defined below, no awards are available for future grants under the 1999 Plan.

In June 2008, the Company’s stockholders approved the adoption of the 2008 Equity Incentive Plan (the “2008 Plan”) pursuant to which stock options, stock appreciation rights, restricted stock and other equity based awards may be granted. Stock options granted under the 2008 Plan may be incentive stock options or nonqualified stock options within the meaning of the Code.

The total number of shares of the Company’s Common Stock that may be granted under the 2008 Plan, as amended, is the sum of (i) 15,685,000 shares, and (ii) the number of shares subject to outstanding awards under the 1999 Plan that on or after April 16, 2008 either (a) cease for any reason to be subject to such awards (other than by reason of exercise or settlement of the awards to the extent they are exercised for or settled in vested and non-forfeitable shares of Common Stock) or (b) are surrendered by participants under the 1999 Plan or are retained by the Company to pay all or a portion of the exercise price and/or withholding taxes relating to such awards. At December 31, 2014, 8,223,673 shares were available for future grants under the 2008 Plan, as amended and restated.

See Note 2- Stock-Based Compensation for activity related to the Company’s equity plans.

17. INCOME TAXES

The components of (loss) income before income taxes and loss in equity interests are as follows:

	Year Ended December 31,
	2014			2013			2012
Domestic	$	(326,935	)	$	31,291		$	11,833
Foreign		7,915			(3,870	)		14,436
(Loss) income before income taxes and loss in equity interests	$	(319,020	)	$	27,421		$	26,269

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Income taxes relating to the Company’s operations are as follows:

	Years Ended December 31,
	2014			2013			2012
Current income taxes:
U.S. Federal	$	2,018		$	2,814		$	(40,306	)
State and local		(692	)		(1,357	)		(1,668	)
Foreign		6,801			(7,027	)		18,810
Total current income taxes		8,127			(5,570	)		(23,164	)
Deferred income taxes:
U.S. Federal		(35,661	)		24,513			(2,495	)
State and local		(9,622	)		5,766			(2,975	)
Foreign		1,865			(1,705	)		(4,344	)
Total deferred income taxes		(43,418	)		28,574			(9,814	)
(Benefit from) provision for income taxes	$	(35,291	)	$	23,004		$	(32,978	)

The tax effects of temporary differences that give rise to the Company’s deferred tax assets and liabilities are as follows:

	December 31,
	2014			2013
Deferred tax assets:
Allowance for doubtful accounts	$	941		$	1,310
Accrued expenses and other liabilities		9,731			6,038
Tax loss carry-forwards		71,916			67,892
Tax credits		55,312			48,843
Non-cash stock based compensation expense		6,552			4,379
Valuation allowance		(69,807	)		(48,906	)
Deferred tax assets		74,645			79,556
Deferred tax liabilities:
Foreign investments		(12,166	)		(9,606	)
Property and equipment		(25,018	)		(24,956	)
Goodwill and intangibles		(11,199	)		(60,941	)
Deferred tax liabilities		(48,383	)		(95,503	)
Net deferred tax assets (liabilities)	$	26,262		$	(15,947	)

As of December 31, 2014 and 2013, net current deferred tax assets were $1,995 and $627, respectively, net current deferred tax liabilities were $0 and $49, respectively, net non-current deferred tax assets were $24,267 and $20,405, respectively, and net non-current deferred tax liabilities were $0 and $36,930, respectively.

At December, 31, 2014, the Company has United States Federal net operating tax losses of approximately $35,730 which it expects to carry forward as no carry-back refunds are available. The losses expire in stages beginning in 2031. The Company has U.S. foreign tax credit carryovers and research and experimentation tax credit carryovers of $51,580 and $3,646, respectively, that expire in stages beginning in 2016 through 2024 and 2029 through 2034, respectively. The Company has net operating loss carry-forwards in various foreign countries around the world of approximately $226,000, approximately $172,000 of which have no expiration date and $54,000 of which expire in stages in years 2015 through 2029. The Company realized a cash benefit relating to the use of its tax loss carry-forwards of $0 and $25,122 in 2014 and 2013, respectively.

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Utilization of our net operating losses and tax credit carry-forwards may be subject to substantial annual limitations due to the ownership change limitations provided by the United States Internal Revenue Code. Such annual limitations could result in the expiration of the net operating loss and tax credit carry-forwards before their utilization. The events that may cause ownership changes include, but are not limited to, a cumulative stock ownership change of greater than 50% over a three year period.

Realization of the Company’s net deferred tax assets is dependent upon the Company generating sufficient taxable income in future years in the appropriate tax jurisdictions to obtain a benefit from the reversal of deductible temporary differences and from attribute carry-forwards which include losses and tax credits. In assessing the need for a valuation allowance, the Company has considered all positive and negative evidence including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial performance. Since this evaluation requires considerable judgment and consideration of events that may occur in future years, our conclusion could be materially different if certain of our expectations do not occur. To the extent actual results are different, it may require a material charge to income in the period in which such events occur.

The Company has concluded that it is more likely than not that certain deferred tax assets will not be realized, principally net operating losses in certain foreign jurisdictions, and a portion of the carryovers of foreign tax credits. Determining the amount of required valuation allowances necessitates significant judgment. We review utilization of tax assets on a jurisdiction by jurisdiction basis and consider such factors as recent operating history and future business forecasts. In making this assessment we give greater weight to evidence that is objectively verifiable comprising primarily of past operating history and reversing taxable differences. Operations in certain countries have a long history of continual tax losses, so a valuation allowance has been recorded on all of their deferred tax assets.

In order to realize its deferred tax asset for foreign tax credit carryovers the Company is required to have sufficient U.S. taxable income, and sufficient “foreign source” income as defined by the U.S. tax code, regulations and interpretations thereunder. In evaluating future realization of deferred tax assets for foreign tax credit carryovers the Company forecasts future income levels and characterization thereof. The Company prepares tax credit realization models using varying scenarios and assumptions, and considers qualifying tax planning strategies. At December 31, 2014, the total carryover over for foreign tax credits is $51,580. The Company believes it is more likely than not to not realize approximately $21,000 of foreign tax credit carryovers before their expiration, thus in 2014 the Company recorded an increase to the valuation allowance by approximately $18,000 ($16,000 of which was recorded in the fourth quarter of 2014). The portion of the total recorded valuation allowances recorded at December 31, 2014 and 2013 related to this item was approximately $21,000 and $3,000 respectively.

The income tax provision from continuing operations was increased by $25,123, $5,221 and $5,991 in 2014, 2013 and 2012, respectively, due to valuation allowances, $21,347, $1,691 and $3,000 of which related to deferred tax assets that existed at the beginning of the respective years. The valuation allowance decreased by $4,222 in 2014 due to expiration of losses with full valuation allowances and deconsolidation of certain subsidiaries with tax valuation allowances (see Note 11 – Deconsolidation of Subsidiaries). The valuation allowance decreased $4,472 in 2013 primarily due to the effect of enacted reductions in the tax rates on deferred tax assets with a full valuation allowance, or expiration of tax losses with a full valuation allowance, and was increased by $3,379 in 2012 due reversals of unrecognized tax benefits with full valuation allowances. These items did not result in a net charge or benefit to the tax provision.

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Income taxes related to the Company’s (loss) income before income taxes and loss in equity interests differ from the amount computed using the Federal statutory income tax rate as follows:

	Year Ended December 31,
	2014			2013			2012
Income taxes at Federal statutory rate	$	(111,655	)	$	9,598		$	9,195
State income taxes, net of Federal income tax effect		(13,767	)		1,152			217
Foreign tax rate differences		308			3,510			1,655
Change in valuation allowance		20,901			749			9,370
Reversals of accrued income tax		(1,143	)		(12,391	)		(28,814	)
Interest expense on tax liabilities, net of reversals		710			(189	)		(3,517	)
Earnings not indefinitely reinvested		—			676			1,303
Non-deductible compensation and other expenses		952			1,506			1,095
Effect of foreign partnerships and joint venture		4,090			—			—
Tax effect of restructuring items		—			—			(21,754	)
Effect of intercompany loans		392			250			(1,728	)
Non-deductible goodwill impairment		65,938
Research and experimentation tax credit		(2,017	)
Sale of noncontrolling interest		—			18,143			—
(Benefit from) provision for income taxes	$	(35,291	)	$	23,004		$	(32,978	)

For the years ended December 31, 2014, 2013 and 2012, the Company has recorded a tax (benefit) provision in discontinued operations of $0, ($6,407) and $1,624, respectively. The 2012 amount includes a provision of $9,710 for valuation allowances on recorded deferred tax assets relating to Careers-China (see Note 7 – Discontinued Operations). In the years ended December 31, 2014, 2013 and 2012, the discontinued operation tax provision include tax benefits of $0, $540 and $8,086, respectively, on certain tax losses in discontinued operations that pass through to continuing operations due to the form of ownership.

In the fourth quarter of 2014, the Company recorded a pre-tax charge for impairment of goodwill in the amount of $325,800. The Company recorded a deferred tax benefit of $62,753 with respect to the portion of impaired goodwill which is deductible for tax purposes (see Note 5 – Goodwill and Intangible Assets).

In 2014, the tax provision was increased by $5,543 due to a gain of $11,828 related to the deconsolidation of the Company’s subsidiaries in Poland, Hungary and the Czech Republic (see Note 11 – Deconsolidation of Subsidiaries).

In November 2013, the Company entered in to an agreement to sell a 49.99% interest in JobKorea Ltd., its wholly owned subsidiary in South Korea, to H&Q Korea for an aggregate purchase price of $90,000 (see Note 3 – Noncontrolling Interest). The transaction, which is accounted for as a sale of a noncontrolling interest, resulted in a sale for tax purposes. A tax provision of $30,853 was recorded on the transaction of which $12,709 was charged to stockholder’s equity and $18,143 was charged to the continuing operations tax provision. The Company utilized its existing U.S. tax operating loss carryovers to offset the tax liability that would otherwise be due on the transaction. As a result of the sale, the remaining 50.01% investment retained by the Company is characterized as a partnership for U.S. tax reporting purposes. Accordingly, the Company’s share of earnings is taxable in the United States, as if distributed. In 2014, 2013 and 2012, the Company repatriated approximately $3,121, $13,385 and $38,000, respectively, of cash from its subsidiary in South Korea.

A provision has not been made for United States or additional foreign taxes on substantially all undistributed earnings of foreign subsidiaries as the Company plans to utilize these undistributed earnings to finance expansion or operating requirements of subsidiaries outside of the United States or due to local country restrictions. Such earnings will continue to be indefinitely reinvested but could become subject to additional tax if they were

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remitted as dividends or were loaned to the Company or United States affiliates, or if the Company should sell its stock in the foreign subsidiaries. Due to various complexities in computing the residual U.S. tax liability, particularly when the timing or form of future repatriations has not been determined, it is not practicable to determine the amount of additional tax, if any, that might be payable on undistributed foreign earnings. The Company estimates its undistributed foreign earnings for which deferred taxes have not been provided are approximately $26,000.

As of December 31, 2014 and 2013, the Company has recorded a liability for $54,636 and $53,078, respectively, which includes unrecognized tax benefits of $30,389 and $30,005, respectively, and estimated accrued interest and penalties of $24,247 and $23,074, respectively. Interest and penalties related to underpayment of income taxes are classified as a component of the (benefit from) provision for income taxes in the Company’s consolidated statement of operations. Interest accrued on unrecognized tax benefits included in the 2014, 2013 and 2012 income tax provision in the statement of operations was $2,695, $2,932, and $3,794, respectively. In 2014, 2013 and 2012 interest expense was recorded net of reversals of prior years’ interest and penalties of $1,523, $3,248, and $9,609, respectively. The net of tax effect of interest, penalties and reversals was a charge of $710 in the year ended December 31, 2014, and a credit of $189 and $3,517 in the years ended December 31, 2013 and 2012, respectively.

A reconciliation of the total amount of unrecognized tax benefits is as follows:

	2014			2013			2012
Balance, beginning of period	$	30,005		$	40,075		$	76,818
Gross increases: tax positions taken in prior periods		—			515			8,380
Gross decreases: tax positions taken in prior periods		(1,040	)		(13,042	)		(8,943	)
Gross increases: tax positions taken in current year		2,911			2,457			3,114
Gross decreases: tax positions taken in current year		—			—			—
Gross decreases: settlement of tax examinations		—			—			(39,294	)
Gross decreases: lapse of statute of limitation		(1,487	)		—			—
Balance, end of period	$	30,389		$	30,005		$	40,075

If the unrecognized tax benefits at December 31, 2014, 2013 and 2012 were recognized in full, $30,389, $30,005, and $40,075, respectively, would impact the effective tax rate.

During 2014, the Company recognized previously unrecognized tax positions of $2,525 which on a net of tax basis favorably impacted the effective rate by $1,143, primarily as a result of lapses of statutes of limitations. The Company also reversed accrued interest on unrecognized tax positions of $1,523, which favorably impacted the effective rate by $921. The tax matters reversed relate primarily to allocation of income among tax jurisdictions.

During 2013, the Company recognized previously unrecognized tax positions of $12,979 which on a net of tax basis favorably impacted the effective rate by $12,391 as a result of settlements of tax examinations and lapses of statutes of limitations. The Company also reversed accrued interest on unrecognized tax positions of $3,248, which favorably impacted the effective rate by $1,963. The tax matters reversed relate primarily to characterization of certain intercompany loans for tax purposes and allocation of income among jurisdictions.

During 2012, the Company completed a tax examination with the United States Internal Revenue Service which covered the tax years 2006 through 2009. As a result of settlement of this tax examination the Company recognized previously unrecognized tax benefits of $38,024 and reversed an asset for recoverable foreign taxes of $7,956 both of which, on a net of tax basis, impacted the effective rate by $29,059. The Company also recognized previously unrecognized tax benefits of $5,680 which were offset in full by a valuation allowance and had no net effect on the tax provision. The Company also reversed accrued interest related to unrecognized tax benefits of $8,034 which, on a net of tax basis, impacted the effective rate by $4,860. The tax matters recognized

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related to the allocation of income among tax jurisdiction and the benefits related to certain tax net operating losses. In addition, the Company settled certain state and local tax examinations and revised certain estimates to prior accrued state liabilities. As a result, the Company recognized $1,806 of previously unrecognized tax benefits and reversed accrued interest related to these unrecognized benefits of $1,575 which together on a net of tax basis impacted the effective tax rate by $2,128. Additionally, the Company increased its tax provision for unrecognized tax benefits of $7,100 relating to an ongoing international tax examination. The total effect on the tax provision for the year ended December 31, 2012, due to adjustments of prior accruals and settlement of tax examinations, was a tax benefit of $28,814, a benefit for reversal of interest of $5,814, and a provision for recording a valuation allowance of $5,680.

The Company conducts business globally and as a result, the Company or one or more subsidiaries is subject to United States federal income taxes and files income tax returns in various states and approximately 40 foreign jurisdictions. In the normal course of business, the Company is subject to tax examinations by taxing authorities including major jurisdictions such as Germany, United Kingdom, and the United States as well as other countries in Europe and the Asia/Pacific region. The Company is generally no longer subject to examinations with respect to returns that have been filed for years prior to 2010 in Germany, 2012 in the United Kingdom, and 2011 in the United States. Tax years are generally considered closed from examinations when the statute of limitations expires. The United States Internal Revenue Service has recently completed an income tax examination through tax year 2011 which resulted in no material changes.

The Company estimates that it is reasonably possible that unrecorded tax benefits may be reduced by an amount ranging from $0 to $15,000 in the next twelve months due to expirations of statutes of limitations or settlement of examinations. The tax matters relate to allocation of income between tax jurisdictions and the amount of tax loss carryovers.

18. COMMITMENTS

Leases

The Company leases its facilities and a portion of its capital equipment under operating leases that expire at various dates. Some of the operating leases provide for increasing rents over the terms of the leases and total rent expense under these leases is recognized ratably over the initial renewal period of each lease. The following table presents future minimum lease commitments under non-cancelable operating leases and minimum rentals to be received under non-cancelable subleases at December 31, 2014:

	Operating Leases		Estimated Sublease Income
2015	$	36,280	$	2,229
2016		31,004		3,557
2017		28,593		3,654
2018		24,776		3,654
2019		20,885		3,654
Thereafter		50,851		4,526
	$	192,389	$	21,274

During the third quarter of 2013, the Company entered into an operating lease for an office facility in Weston, Massachusetts which replaced our office in Maynard, Massachusetts, the lease for which expired in 2014. The lease term began on January 1, 2014 and expires on May 30, 2025.

Total rent and related expenses under operating leases, excluding discontinued operations, were $51,226, $42,546, and $43,030, for the years ended December 31, 2014, 2013 and 2012, respectively. Operating lease obligations after 2014 relate primarily to office facilities.

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Other Contractual Commitments

We also have $36,746 of non-cancelable contractual commitments as of December 31, 2014, excluding obligations under our financing agreements, primarily related to agreements for marketing arrangements and software licenses and subscriptions. For those agreements with variable terms, we do not estimate what the total obligation may be beyond any minimum pricing as of the reporting date. The majority of these commitments are due within two years. See Note 14 – Long-Term Debt for discussion on our obligations under our financing agreements.

Consulting, Employment and Non-Compete Agreements

The Company has entered into various consulting, employment and non-compete and/or non-solicitation agreements with certain key management personnel and former owners of acquired businesses. Employment agreements with key members of management are generally at will and provide for an unspecified term and for specified notice or the payment of severance in certain circumstances.

Effective November 4, 2014, Salvatore Iannuzzi resigned as Chief Executive Officer and President of the Company. Mr. Iannuzzi will be an employee of the Company until June 30, 2015 to facilitate an orderly transition. In connection with his resignation, on November 3, 2014, Mr. Iannuzzi and the Company entered into a Letter Agreement detailing the terms of his resignation from the Company. During the fourth quarter of 2014, the Company recognized $8,957 of charges associated with Mr. Iannuzzi’s resignation. This charge includes $4,354 of non-cash compensation associated with the acceleration of 160,501 RSA’s and 2,250,000 RSU’s. See Note 2 – Stock Based Compensation.

Employee Benefit Plans

The Company has a 401(k) profit-sharing plan covering all eligible employees. Since October 2010, after a temporary suspension from April 2009 through September 2010, the Company has provided for employer matching contributions equal to 50% of employee contributions, up to a maximum of 6% of their eligible compensation. Matching contributions are paid to participating employees in the form of the Company’s Common Stock or cash. Salaries and related expenses, excluding discontinued operations, contain $4,050, $4,060, and $4,596 of employer matching contributions for the years ended December 31, 2014, 2013 and 2012, respectively.

The Company also has defined contribution employee benefit plans for its employees outside of the United States. The cost of these plans included in salaries and related expenses, excluding discontinued operations, were $3,140, $2,952, and $3,275 for the years ended December 31, 2014, 2013 and 2012, respectively.

19. SEGMENT AND GEOGRAPHIC DATA

The Company conducts business in three reportable segments: Careers-North America, Careers-International, and Internet Advertising & Fees. Corporate operating expenses are not allocated to the Company’s reportable segments. The operating results for the Careers-China business and the exited business operations which have previously been included in the Careers-International segment in the Company’s consolidated financial statements have now been reclassified as discontinued operations for all periods presented. Please see Note 7 – Discontinued Operations.

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The following tables present the Company’s operations, excluding discontinued operations, by reportable segment and by geographic region:

	The year ended December 31,
	2014			2013			2012
Revenue
Careers – North America	$	436,946		$	446,274		$	462,962
Careers – International		269,064			288,623			351,130
Internet Advertising & Fees		64,003			72,682			76,300
Revenue	$	770,013		$	807,579		$	890,392
Operating (Loss) Income
Careers – North America	$	(198,294	)	$	65,009		$	42,686
Careers – International		(25,129	)		(18,596	)		13,076
Internet Advertising & Fees		(48,624	)		24,492			17,721
		(272,047	)		70,905			73,483
Corporate expenses		(50,249	)		(37,714	)		(41,331	)
Operating (Loss) Income	$	(322,296	)	$	33,191		$	32,152
Depreciation and Amortization
Careers – North America	$	24,381		$	31,204		$	35,446
Careers – International		19,174			22,874			22,181
Internet Advertising & Fees		3,589			4,354			5,943
		47,144			58,432			63,570
Corporate expenses		1,499			724			709
Depreciation and Amortization	$	48,643		$	59,156		$	64,279
Restructuring and Other Special Charges
Careers – North America	$	—		$	9,537		$	20,970
Careers – International		—			7,866			15,990
Internet Advertising & Fees		—			341			2,123
Corporate expenses		—			2,251			1,275
Restructuring and Other Special Charges	$	—		$	19,995		$	40,358
Goodwill Impairment
Careers – North America	$	263,000		$	—		$	—
Careers – International		—			—			—
Internet Advertising & Fees		62,800			—			—
Corporate expenses		—			—			—
Goodwill Impairment	$	325,800		$	—		$	—
Revenue by Geographic Region(a)
United States	$	484,252		$	500,746		$	517,268
International		285,761			306,833			373,124
Revenue	$	770,013		$	807,579		$	890,392
Long-lived Assets by Geographic Region(b)
United States	$	89,343		$	88,284		$	103,112
International		30,386			35,885			44,501
Total Long-Lived Assets	$	119,729		$	124,169		$	147,613

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(a) Revenue by geographic region is generally based on the location of the Company’s subsidiary.

(b) Total long-lived assets includes property and equipment, net.

Due to the nature of the Company’s operations, a majority of its assets are utilized across all segments. In addition, segment assets are not reported to, or used by, the Chief Operating Decision Maker to allocate resources or assess performance of the Company’s segments. Accordingly, the Company has not disclosed asset information by segment.

20. LEGAL MATTERS

The Company is involved in various legal proceedings that are incidental to the conduct of its business. Aside from the matters discussed below, the Company is not involved in any pending or threatened legal proceedings that it believes could reasonably be expected to have a material adverse effect on its financial condition or results of operations.

In September 2013, Career Destination Development, LLC filed suit against the Company for allegedly infringing certain patents, U.S. Patent No. 7,424,438 (the “438 Patent”) and U.S. Patent No. 8,374,901 (the “901 Patent”), relating to methods for the online searching of jobs. The lawsuit, entitled Career Destination Development, LLC vs. Monster Worldwide, Inc. (Civil Action No. 13-cv-2423), was brought in the United States District Court for the District of Kansas. The Plaintiff sought injunctive relief, monetary damages, pre and post judgment interest, and other costs. On October 10, 2013, the Company filed an answer denying the allegations set forth in the complaint. On February 12, 2014, Monster filed two separate petitions in the United States Patent and Trademark Office (“USPTO”) for covered business method (“CBM”) review of the ‘901 Patent, and the USPTO subsequently assigned case numbers CBM2014-00069 and CBM2014-00070 to these petitions for CBM review of the ‘901 Patent. On February 12, 2014 and February 21, 2014, Monster also filed petitions in the USPTO for CBM review of the ‘438 Patent, and the USPTO subsequently assigned case numbers CBM2014-00068 and CBM2014-00077 to the petitions for review of the ‘438 Patent. On March 14, 2014, the District Court for the District of Kansas granted Monster’s motion to stay Civil Action No. 13-cv-2423 pending the aforementioned CBM reviews of the ‘438 and ‘901 Patents. On November 28, 2014, the parties entered into a settlement agreement whereby all claims would be dismissed with prejudice and the petitions filed with the USPTO would be withdrawn. By Order of the Court dated November 25, 2014, the action was dismissed with prejudice.

In April 2014, Selene Communication Technologies LLC filed suit against the Company for allegedly infringing a certain patent relating to methods for generating search queries. The lawsuit, entitled Selene Communication Technologies LLC vs. Monster Worldwide, Inc. (Civil Action No.14-cv-434) was brought in the United States District Court for the District of Delaware. The Plaintiff sought injunctive relief, monetary damages, pre and post judgment interest and other costs. On June 13, 2014, the Company filed an answer denying the allegations set forth in the complaint. On October 29, 2014, the parties entered into a settlement agreement whereby all claims would be voluntarily dismissed with prejudice. By Order of the Court dated November 17, 2014, the action was dismissed with prejudice.

21. SUBSEQUENT EVENTS (UNAUDITED)

“Reallocate to Accelerate”

On February 10, 2015, the Company committed to take a series of cost savings initiatives to reduce costs globally while continuing to support the Company’s new strategy. The initiatives currently include a global workforce reduction of approximately 300 associates, or 7% of its full-time staff, consolidation of certain office facilities, and continuing discretionary-spending and office and general expense controls. The Company expects these reductions, currently anticipated to be completed by the end of 2015, to result in annualized savings of approximately $38,000 to $45,000. The full impact of the savings will be realized beginning in the fourth quarter of 2015. As a result of these initiatives, the Company expects to record a cumulative pre-tax charge within the range of $18,000 to $23,000, all of which is expected to be cash expenditures. The majority of the associated charges are expected to be recorded in the first half of 2015.

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MONSTER WORLDWIDE, INC.

FINANCIAL INFORMATION BY QUARTER (UNAUDITED)

(In thousands, except per share amounts)

	2014
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Revenue	$	198,149		$	194,441		$	191,220		$	186,203		$	770,013
Salaries and related		101,999			103,220			100,587			107,337			413,143
Office and general		55,207			49,131			52,186			50,450			206,974
Marketing and promotion		41,413			37,377			35,109			32,493			146,392
Goodwill impairment		—			—			—			325,800			325,800
Total operating expenses		198,619			189,728			187,882			516,080			1,092,309
Operating (loss) income		(470	)		4,713			3,338			(329,877	)		(322,296	)
Gain on deconsolidation of subsidiaries, net		11,828			—			—			—			11,828
Interest and other, net		(1,323	)		(1,660	)		(1,830	)		(3,739	)		(8,552	)
Income (loss) before income taxes and (loss) income in equity interests		10,035			3,053			1,508			(333,616	)		(319,020	)
Provision for (benefit from) income taxes		6,663			1,615			1,934			(45,503	)		(35,291	)
(Loss) income in equity interests, net		(133	)		58			75			(78	)		(78	)
Income (loss) from continuing operations		3,239			1,496			(351	)		(288,191	)		(283,807	)
Net income (loss)		3,239			1,496			(351	)		(288,191	)		(283,807	)
Net income attributable to noncontrolling interest		1,174			1,462			1,318			1,528			5,482
Net income (loss) attributable to Monster Worldwide, Inc.	$	2,065		$	34		$	(1,669	)	$	(289,719	)	$	(289,289	)
Basic earnings (loss) per share attributable to Monster Worldwide, Inc.	$	0.02		$	—		$	(0.02	)	$	(3.31	)	$	(3.29	)
Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.	$	0.02		$	—		$	(0.02	)	$	(3.31	)	$	(3.29	)
Weighted average shares outstanding:
Basic		91,102			87,080			86,576			87,478			88,045
Diluted		94,416			89,955			86,576			87,478			88,045
Net income (loss)	$	3,239		$	1,496		$	(351	)	$	(288,191	)	$	(283,807	)
Other comprehensive income (loss):
Foreign currency translation adjustments, net		3,496			(2,861	)		(27,563	)		(29,883	)		(56,811	)
Comprehensive income (loss)		6,735			(1,365	)		(27,914	)		(318,074	)		(340,618	)
Comprehensive income (loss) attributable to noncontrolling interest		347			4,379			(14	)		(1,918	)		2,794
Comprehensive income (loss) attributable to Monster Worldwide, Inc.	$	6,388		$	(5,744	)	$	(27,900	)	$	(316,156	)	$	(343,412	)

See further description of goodwill impairment, gain on deconsolidation of subsidiaries, net, income taxes and net income attributable to noncontrolling interest in Notes 5, 11, 17 and 3, respectively.

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MONSTER WORLDWIDE, INC.

FINANCIAL INFORMATION BY QUARTER (UNAUDITED)

(In thousands, except per share amounts)

	2013
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Revenue	$	211,986		$	200,058		$	196,817		$	198,718		$	807,579
Salaries and related		97,575			89,467			92,931			99,433			379,406
Office and general		51,132			52,262			51,542			50,461			205,397
Marketing and promotion		49,267			43,394			38,089			38,840			169,590
Restructuring and other special charges		13,167			6,828			—			—			19,995
Total operating expenses		211,141			191,951			182,562			188,734			774,388
Operating income		845			8,107			14,255			9,984			33,191
Interest and other, net		(1,268	)		(1,357	)		(1,482	)		(1,663	)		(5,770	)
(Loss) Income before income taxes and loss in equity interests		(423	)		6,750			12,773			8,321			27,421
(Benefit from) provision for income taxes		(11,999	)		2,366			4,480			28,157			23,004
Loss in equity interests, net		(458	)		(245	)		(119	)		(86	)		(908	)
Income (loss) from continuing operations		11,118			4,139			8,174			(19,922	)		3,509
(Loss) income from discontinued operations, net of tax		(6,134	)		(759	)		3,095			—			(3,798	)
Net income (loss)		4,984			3,380			11,269			(19,922	)		(289	)
Net income attributable to noncontrolling interest		—			—			—			193			193
Net income (loss) attributable to Monster Worldwide, Inc.	$	4,984		$	3,380		$	11,269		$	(20,115	)	$	(482	)
Basic earnings (loss) per share attributable to Monster Worldwide, Inc.:
Income (loss) from continuing operations	$	0.10		$	0.04		$	0.08		$	(0.21	)	$	0.03
(Loss) income from discontinued operations, net of tax		(0.06	)		(0.01	)		0.03			—			(0.04	)
Basic earnings (loss) per share	$	0.04		$	0.03		$	0.11		$	(0.21	)	$	—
Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.:
Income (loss) from continuing operations	$	0.10		$	0.04		$	0.08		$	(0.21	)	$	0.03
(Loss) income from discontinued operations, net of tax		(0.06	)		(0.01	)		0.03			—			(0.04	)
Diluted earnings (loss) per share	$	0.04		$	0.03		$	0.11		$	(0.21	)	$	—
Weighted average shares outstanding:
Basic		111,402			110,932			105,394			97,872			106,947
Diluted		112,637			111,937			105,967			97,872			107,913
Net income (loss)	$	4,984		$	3,380		$	11,269		$	(19,922	)	$	(289	)
Other comprehensive (loss) income:
Foreign currency translation adjustments, net		(36,999	)		(9,139	)		21,022			1,257			(23,859	)
Comprehensive (loss) income		(32,015	)		(5,759	)		32,291			(18,665	)		(24,148	)
Comprehensive income attributable to noncontrolling interest		—			—			—			128			128
Comprehensive (loss) income attributable to Monster Worldwide, Inc.	$	(32,015	)	$	(5,759	)	$	32,291		$	(18,793	)	$	(24,276	)

See further description of restructuring, income taxes and discontinued operations in Notes 6, 17, and 7, respectively.

(a) Earnings per share calculations for each quarter include the weighted average effect of stock issuances and common stock equivalents for the quarter; therefore, the sum of quarterly earnings per share amounts may not equal full-year earnings per share amounts, which reflect the weighted average effect on an annual basis. Diluted earnings per share calculations for each quarter include the effect of stock options, non-vested restricted stock units and non-vested restricted stock, and the 3.50% convertible senior notes due 2019, when dilutive to the quarter. In addition, basic earnings per share and diluted earnings per share may not add due to rounding.

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ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

Not Applicable

ITEM 9A. CONTROLS AND PROCEDURES

Monster Worldwide maintains “disclosure controls and procedures,” as such term is defined under Exchange Act Rule 13a-15(e), that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosures. In designing and evaluating the disclosure controls and procedures, the Company’s management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives and the Company’s management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures. The Company has carried out an evaluation, as of the end of the period covered by this report, under the supervision and with the participation of the Company’s management, including its Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures. Based upon their evaluation and subject to the foregoing, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were reasonably effective in ensuring that material information relating to the Company is made known to the Chief Executive Officer and Chief Financial Officer by others within the Company as of the end of the period covered by this report.

Management’s Report on Internal Control Over Financial Reporting.

The Company’s management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Securities Exchange Act Rules 13a-15(f) or 15d-15(f)). The Company’s internal control system is designed to provide reasonable assurance to the Company’s management and Board of Directors regarding the preparation and fair presentation of published financial statements.

All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.

The Company’s management assessed the effectiveness of its internal control over financial reporting as of December 31, 2014. In making this assessment, it used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control – Integrated Framework (2013). Based on this assessment, the Company’s management, including the Chief Executive Officer and Chief Financial Officer, believe that as of December 31, 2014, the Company’s internal control over financial reporting is effective based on those criteria.

There have been no significant changes in the Company’s internal controls or in other factors which could materially affect internal controls subsequent to the date the Company’s management carried out its evaluation.

The Company’s independent registered public accounting firm has issued an attestation report on the effectiveness of the Company’s internal control over financial reporting.

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Report of Independent Registered Public Accounting Firm

Board of Directors and Stockholders

Monster Worldwide, Inc.

New York, New York

We have audited Monster Worldwide, Inc.’s (the “Company”) internal control over financial reporting as of December 31, 2014, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (the COSO criteria). The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management’s Report on Internal Control Over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

In our opinion, Monster Worldwide, Inc. maintained, in all material respects, effective internal control over financial reporting as of December 31, 2014, based on the COSO criteria.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Monster Worldwide, Inc. as of December 31, 2014 and 2013 and the related consolidated statements of operations and comprehensive loss, stockholders’ equity, and cash flows for each of the three years in the period ended December 31, 2014 and our report dated February 10, 2015 expressed an unqualified opinion thereon.

/s/ BDO USA, LLP

New York, New York

February 10, 2015

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ITEM 9B. OTHER INFORMATION

None.

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PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Certain of the information required by this item is incorporated by reference to the information appearing under the headings “Corporate Governance and Board of Directors Matters,” “Proposal 1: Election of Directors” and “Section 16(a) Beneficial Ownership Reporting Compliance” from our definitive proxy statement to be filed with the SEC within 120 days after the Company’s fiscal year end of December 31, 2014 pursuant to Regulation 14A of the Exchange Act. The information under the heading “Executive Officers” in “Item 1. Business” of this Annual Report on Form 10-K is also incorporated herein by reference.

The Company has adopted a Code of Business Conduct and Ethics applicable to its directors, officers (including its principal executive officer, principal financial officer, principal accounting officer and controller) and employees. The Code of Business Conduct and Ethics is available on the Investor Relations portion of the Company’s website under the “Corporate Governance” link. The Company intends to satisfy the disclosure requirement under Item 5.05 of Form 8-K relating to amendments or waivers from any provision of the Company’s Code of Business Conduct and Ethics applicable to the Company’s principal executive officer, principal financial officer, principal accounting officer or controller by either filing a Form 8-K or posting this information on the Company’s website within four business days following the date of amendment or waiver. The Company’s website address is http://www.monster.com/about.

ITEM 11. EXECUTIVE COMPENSATION

The information required by this item is incorporated by reference from our definitive proxy statement to be filed with the SEC within 120 days after the Company’s fiscal year end of December 31, 2014 pursuant to Regulation 14A of the Exchange Act.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

The information required by this item is incorporated by reference from our definitive proxy statement to be filed with the SEC within 120 days after the Company’s fiscal year end of December 31, 2014 pursuant to Regulation 14A of the Exchange Act.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

The information required by this item is incorporated by reference from our definitive proxy statement to be filed with the SEC within 120 days after the Company’s fiscal year end of December 31, 2014 pursuant to Regulation 14A of the Exchange Act.

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

The information required by this item is incorporated by reference from our definitive proxy statement to be filed with the SEC within 120 days after the Company’s fiscal year end of December 31, 2014 pursuant to Regulation 14A of the Exchange Act.

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PART IV

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

(A) DOCUMENT LIST

1. Financial Statements

The financial statements of the Company filed herewith are set forth in Part II, Item 8 of this Report.

2. Financial Statement Schedules

None.

3. Exhibits Required by Securities and Exchange Commission Regulation S-K

See the Exhibit Index immediately following the signature page of this Report.

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

MONSTER WORLDWIDE, INC. (REGISTRANT)
By:	/s/ TIMOTHY T. YATES
	Timothy T. Yates
	President and Chief Executive Officer

Dated: February 10, 2015

PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THIS REPORT HAS BEEN SIGNED BELOW BY THE FOLLOWING PERSONS ON BEHALF OF THE REGISTRANT IN THE CAPACITIES AND ON THE DATES INDICATED.

Signature	Title	Date
/s/ TIMOTHY T. YATES Timothy T. Yates	President, Chief Executive Officer and Director (principal executive officer)	February 10, 2015
/s/ JAMES M. LANGROCK James M. Langrock	Executive Vice President and Chief Financial Officer (principal financial officer)	February 10, 2015
/s/ MICHAEL B. MCGUINNESS Michael B. McGuinness	Senior Vice President, Chief Accounting Officer and Global Controller (principal accounting officer)	February 10, 2015
/s/ JOHN GAULDING John Gaulding	Director	February 10, 2015
/s/ EDMUND P. GIAMBASTIANI, JR. Edmund P. Giambastiani, Jr.	Director	February 10, 2015
/s/ JEFFREY F. RAYPORT Jeffrey F. Rayport	Director	February 10, 2015
/s/ ROBERTO TUNIOLI Roberto Tunioli	Director	February 10, 2015

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EXHIBIT INDEX

Exhibit Number	Description
2.1	Unit Purchase Agreement, dated as of November 6, 2013, by and among Odyssey Partners Private Equity Fund, Monster Worldwide, Inc. and KJB Holding Corp. – Incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed on November 7, 2013
3.1	Certificate of Incorporation, as amended – Incorporated by reference to Exhibit 3.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2006 filed on March 1, 2007
3.2	Amended and Restated Bylaws – Incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on January 27, 2010
4.1	Form of Common Stock Certificate – Incorporated by reference to Exhibit 4.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2006 filed on March 1, 2007
4.2	Indenture, dated as of October 22, 2014, between Monster Worldwide, Inc. and Wilmington Trust, National Association, as trustee – Incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on October 22, 2014
10.1*	Form of Indemnification Agreement – Incorporated by reference to Exhibit 10.2 to the Company’s Registration Statement on Form S-1 (Registration No. 333-12471) filed on September 23, 1996
10.2*	Monster Worldwide, Inc. Amended and Restated 2008 Equity Incentive Plan – Incorporated by reference to Exhibit A to the Company’s Definitive Proxy Statement on Schedule 14A filed on April 24, 2014
10.3*	1999 Long Term Incentive Plan, as amended as of January 1, 2008 – Incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q filed on May 8, 2008
10.4*	Monster Worldwide, Inc. Second Amended and Restated Executive Incentive Plan – Incorporated by reference to Exhibit B to the Company’s Definitive Proxy Statement on Schedule 14A filed on April 24, 2014
10.5*	Form of Monster Worldwide, Inc. Restricted Stock Unit Award Grant Notice for Executive Officers and Senior Employees (Time-Based Vesting, 2014 Version) – Filed herewith
10.6*	Form of Monster Worldwide, Inc. Performance-Based Restricted Stock Unit Award Grant Notice for Executive Officers and Senior Employees (Stock Price Targets) – Incorporated by reference to Exhibit 10.5 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 filed on February 10, 2014
10.7*	Form of Monster Worldwide, Inc. Restricted Stock Unit Award Grant Notice for Executive Officers and Senior Employees (Time-Based Vesting) – Incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q filed on April 27, 2012
10.8*	Form of Monster Worldwide, Inc. Restricted Stock Award Grant Notice for Executive Officers and Senior Employees (Time-Based Vesting) – Incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed on April 27, 2012
10.9*	Form of Monster Worldwide, Inc. Non-Employee Director Restricted Stock Unit Award Agreement for Annual Grants of Restricted Stock Units – Filed herewith
10.10*	Form of Monster Worldwide, Inc. Non-Employee Director Restricted Stock Agreement for Initial Grants of Restricted Stock (Prior to 2014) – Incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed on April 29, 2011

101

Exhibit Number	Description
10.11*	Form of Monster Worldwide, Inc. Non-Employee Director Restricted Stock Agreement for Annual Grants of Restricted Stock (Prior to 2014) – Incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q filed on April 29, 2011
10.12*	Employment Agreement, effective as of November 4, 2014, by and between Monster Worldwide, Inc. and Timothy T. Yates – Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K/A filed on January 13, 2015
10.13*	Employment Agreement, effective as of May 15, 2008, by and between Monster Worldwide, Inc. and James M. Langrock, as amended effective as of January 1, 2009 and February 28, 2012 – Incorporated by reference to Exhibit 10.19 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 filed on February 13, 2013
10.14*	Amended and Restated Employment Agreement, effective as of February 28, 2012, by and between Monster Worldwide, Inc. and Mark Stoever – Incorporated by reference to Exhibit 10.21 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 filed on February 13, 2013
10.15*	Employment Agreement, effective as of September 7, 2007, by and between Monster Worldwide, Inc. and Lise Poulos, as amended effective as of January 1, 2009 and February 28, 2012 – Incorporated by reference to Exhibit 10.20 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 filed on February 13, 2013
10.16*	Employment Agreement, effective as of May 28, 2012, by and between Monster Worldwide, Inc. and Michael B. McGuinness – Incorporated by reference to Exhibit 10.14 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 filed on February 10, 2014
10.17*	Employment Agreement, effective as of April 11, 2007, by and between Monster Worldwide, Inc. and Salvatore Iannuzzi – Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on April 16, 2007
10.18*	Letter Agreement, dated November 3, 2014, between Monster Worldwide, Inc. and Salvatore Iannuzzi – Filed herewith
10.19	Purchase Agreement, dated October 16, 2014, by and among Monster Worldwide, Inc. and the initial purchasers named therein – Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on October 17, 2014
10.20	Base Capped Call Transaction, dated October 16, 2014, by and between Monster Worldwide, Inc. and Bank of America, N.A. – Incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on October 17, 2014
10.21	Additional Capped Call Transaction, dated October 21, 2014, by and between Monster Worldwide, Inc. and Bank of America, N.A. – Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on October 22, 2014
10.22	Third Amended and Restated Credit Agreement, dated October 31, 2014, by and among Monster Worldwide, Inc., certain of Monster Worldwide, Inc.’s subsidiaries that may be designated as borrowers, Bank of America, N.A., in its capacity as administrative agent, swing line lender and l/c issuer and the other lenders identified – Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on November 4, 2014
10.23	First Amendment to Third Amended and Restated Credit Agreement, dated February 6, 2015, made by Monster Worldwide, Inc. and the lenders party thereto – Filed herewith

102

Exhibit Number	Description
10.24	Third Amended and Restated Subsidiary Guaranty, dated October 31, 2014, by the domestic subsidiaries of Monster Worldwide, Inc., party thereto in favor of Bank of America, N.A., in its capacity as administrative agent – Incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on November 4, 2014
10.25	Second Amended and Restated U.S. Pledge Agreement, dated October 31, 2014, by Monster Worldwide, Inc., and the domestic subsidiaries of Monster Worldwide, Inc., party thereto in favor of Bank of America, N.A., in its capacity as administrative agent – Incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed on November 4, 2014
10.26	Security Agreement, dated October 31, 2014, by Monster Worldwide, Inc., and the domestic subsidiaries of Monster Worldwide, Inc., party thereto in favor of Bank of America, N.A., in its capacity as administrative agent – Incorporated by reference to Exhibit 10.4 to the Company’s Current Report on Form 8-K filed on November 4, 2014
21.1	Subsidiaries of the Company – Filed herewith
23.1	Consent of BDO USA, LLP – Filed herewith
31.1	Certification by Timothy T. Yates pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 – Filed herewith
31.2	Certification by James M. Langrock pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 – Filed herewith
32.1	Certification by Timothy T. Yates pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 – Furnished herewith
32.2	Certification by James M. Langrock pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 – Furnished herewith
101.INS	XBRL Instance Document – Filed herewith
101.SCH	XBRL Taxonomy Extension Schema Document – Filed herewith
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document – Filed herewith
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document – Filed herewith
101.LAB	XBRL Taxonomy Extension Label Linkbase Document – Filed herewith
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document – Filed herewith

* Management contract or compensatory plan or arrangement

103

EX-10.5

Exhibit 10.5

Your Immediate Attention is Required

By clicking the “Accept” button associated with this Grant Notice in Charles Schwab’s Equity Award Center, you are expressly agreeing to all of the terms and conditions of this Grant Notice set forth below (including, without limitation, the non-competition, non-solicitation, non-disparagement, inventions assignment and confidentiality restrictions), intending to be legally bound.

As described in Section 19 of this Grant Notice, the deadline for accepting this Grant Notice is 15 business days following the date of the email notifying you of the availability of this Grant Notice in Charles Schwab’s Equity Award Center. If you do not accept this Grant Notice by that deadline (by clicking the “Accept” button associated with this Grant Notice in Charles Schwab’s Equity Award Center), then the grant of Restricted Stock Units evidenced by this Grant Notice will be cancelled, and the Restricted Stock Units will be forfeited.

MONSTER WORLDWIDE, INC.

RESTRICTED STOCK UNIT AWARD

GRANT NOTICE

MONSTER WORLDWIDE, INC., a Delaware corporation (the “Company”), hereby notifies                      (the “Participant”) of a grant of Restricted Stock Units (“RSUs”) by the Committee to the Participant on                      (the “Grant Date”) pursuant to the Company’s 2008 Equity Incentive Plan, as amended (the “Plan”), upon the terms and conditions set forth in this Grant Notice and the Plan. Capitalized terms not otherwise defined herein shall have the same meanings as in the Plan.

1. Grant of RSUs. Subject to the terms and conditions of this Grant Notice and the Plan, the Participant has been granted                      RSUs. The RSUs shall vest and payment in respect of such RSUs shall be made, if at all, in accordance with Section 2 hereof.

2. Vesting.

(a) The RSUs granted to the Participant shall vest and payment in respect of such number of RSUs shall be made in accordance with Section 2(e) as to the percentage of the RSUs indicated on the dates specified below (each an “RSU Vesting Date”), provided that the Participant has remained in the continuous employment of the Company or any of its Affiliates from the Grant Date through and including each applicable RSU Vesting Date:

Date	Incremental Percentage of Award Becoming Vested
First Anniversary of Grant Date		25	%
Second Anniversary of Grant Date		25	%
Third Anniversary of Grant Date		25	%
Fourth Anniversary of Grant Date		25	%

Any fractional RSUs resulting from the strict application of the incremental percentages set forth above will be disregarded and the actual number of RSUs becoming vested on any specific RSU Vesting Date will cover only the full number of RSUs determined by applying the relevant incremental percentage.

(b) In the event that during the period of the Participant’s employment with the Company or one of its Affiliates after the Grant Date:

(i) the Participant dies, or

(ii) the Participant incurs a Disability

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(such events are collectively referred to as “Acceleration Events”), then all outstanding unvested RSUs shall immediately vest and be payable as of the date of the applicable Acceleration Event, subject to Section 2(d) below.

(c) In the event that during the period of the Participant’s employment with the Company or one of its Affiliates after the Grant Date a Change in Control shall occur, then all outstanding unvested RSUs that have not been forfeited prior to the date of such Change in Control shall vest and be payable on the date of such Change in Control.

(d) In the event that any calendar date on which vesting is purportedly scheduled pursuant to the terms of Sections 2(a), 2(b) or 2(c) above is not a Business Day (as defined below), the vesting shall automatically be delayed until the first Business Day following that calendar date. “Business Day” means a date on which commercial banks in New York, New York are open for general business.

(e) On or as soon as reasonably practicable following the applicable RSU Vesting Date (but in no event later than March 15 of the calendar year following the calendar year in which such date occurs), the Company shall cause the Participant’s account with the third party administering the Company’s equity awards programs (currently Charles Schwab) (the “Administrator”) to be credited with one share of Common Stock with respect to each whole RSU that vests on such date, subject to Sections 3 and 9 below. Upon the crediting of such shares to such account, all obligations of the Company with respect to each such RSU shall be deemed satisfied in full. It is a condition to the Company’s obligation to credit any shares of Common Stock to the Participant pursuant to this Grant Notice that the Participant shall have opened an account with the Administrator.

3. Certain Changes; Rights as a Stockholder. The number and class of shares of Common Stock or other securities which are distributable to the Participant with respect to any RSU covered by this Grant Notice shall be adjusted proportionately or as otherwise appropriate to reflect any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, spin-off, split-off, split-up, recapitalization, capital reorganization, reclassification of shares of Common Stock, merger or consolidation, or any like capital adjustment, or the payment of any stock dividend, and/or to reflect a change in the character or class of shares covered by the Plan arising from a readjustment or recapitalization of the Company’s capital stock, in each case as determined by the Committee. The Participant shall not have any rights to cash dividends, voting rights or other rights of a stockholder with respect to the RSUs covered by this Grant Notice until the Company delivers Common Stock to the Participant’s account in accordance with Section 2(e).

4. Definitions. The following terms shall have the following meaning:

(a) “Business” means the business of (i) connecting employers and people searching for career opportunities using the Internet; (ii) offering online recruitment advertising and/or job posting targeted to careers or vocations; or (iii) providing software or automation which is specifically and primarily designed for use in and specifically and primarily marketed to businesses engaged in an activity listed in (i) or (ii), above.

2

(b) “Disability” or “Disabled” means, notwithstanding any definition in the Plan, that, in the determination of the Committee, the Participant is both (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months and (ii) (x) in case the Participant is eligible for the long term disability program offered to United States-based employees by the Company or its Affiliates, the Participant has actually received long term disability benefits for no less than 9 months or (y) in case the Participant is not eligible for such long term disability program solely by virtue of not being based in the United States, the Participant would have been eligible to receive long term disability benefits for no less than 9 months but for the Participant not being based in the United States. For purposes of Section 2(b) above, it is understood that the Disability shall be deemed to be incurred on the last day of the 9-month period contemplated in clause (ii) of the immediately preceding sentence. In the event the Participant has met the condition set forth in clause (i) of the first sentence of this definition but does not satisfy the condition set forth in clause (ii) of this definition solely by reason of the Participant’s death, then the provisions of such clause (ii) shall be deemed to have been satisfied and for purposes of Section 2(b) above the Disability shall be deemed to be incurred on the date of such death.

5. No Employment Rights; Termination of Employment. Nothing in this Grant Notice shall give the Participant any right to continue in the employment of the Company or any Affiliate, or to interfere in any way with the right of the Company or any Affiliate to terminate the employment of the Participant. Except as otherwise expressly provided in Section 2(b) hereof, RSUs that are not vested as of the date the Participant’s employment with the Company and its Affiliates terminates or ceases for any reason or no reason, whether voluntary or involuntary (including, without limitation, termination or cessation of employment with or without cause or arising out of or in connection with a reduction in force, sale or shutdown of certain operations, or otherwise), shall immediately and automatically terminate and be forfeited in their entirety, provided, however, that only for purposes of this Grant Notice the Participant’s employment shall not be deemed terminated solely by virtue of the Participant’s voluntary cessation of employment in circumstances that the Committee determines are reasonably likely to result in a Disability for so long as the Committee determines that the Participant continues to satisfy the conditions that would ultimately lead to the Committee’s determination that the Participant has incurred a Disability.

6. Plan Provisions. The provisions of the Plan shall govern, and if or to the extent that there are inconsistencies between those provisions and the provisions hereof, the provisions of the Plan shall govern. A copy of the Plan is available on the Company’s global Intranet Web site, currently located at http://insideworldwide.com.

7. Clawback. Upon the occurrence of a “Forfeiture Event” (as defined below), as determined by the Company, the Participant shall forfeit all outstanding, unvested RSUs, and with respect to any shares of Common Stock acquired upon the settlement of the RSUs that are held by the Participant or that have been disposed of by the Participant (and/or any trust, or family partnership or other entity benefitting or controlled by the Participant), the Participant shall, within 10 days after written demand therefore, either cause such shares of Common Stock to be returned to the Company for no consideration or pay to the Company, with respect to each share of Common Stock so disposed, an amount equal to the gross amount received by such

3

Participant (and/or such trust or family partnership or other entity) upon such disposition. For purposes of this Section 7, a “Forfeiture Event” shall mean (i) the Participant’s material breach of any of the restrictive covenants set forth in Section 8 hereof, (ii) the Participant’s willful misconduct or gross negligence in the performance of his/her duties to the Company and/or its Affiliates, (iii) the Participant’s intentional commission at any time in the performance of his/her duties to the Company and/or its Affiliates of any act of fraud, embezzlement or misappropriation of Company and/or any of its Affiliates’ property and/or (iv) the Participant’s (A) failure or refusal to reasonably cooperate with any governmental/regulatory authority having jurisdiction over the Participant and the Company, (B) willful failure or refusal to attempt in good faith to carry out, or comply with, in any material respect any lawful and reasonable written directive of the Board, the Company’s Chief Executive Officer or the Participant’s supervisor or (C) willful material violation of the Company’s Code of Business Conduct and Ethics. The Company’s rights under this Section 7 shall be in addition to any other rights of recoupment or similar rights that the Company may have pursuant to the Plan or otherwise, including without limitation pursuant to Section 11 of the Plan.

8. Restrictive Covenants and Other Agreements. In consideration for the grant of the RSUs and the Participant’s continued employment with the Company or any of its Affiliates, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Participant hereby agrees to the restrictive covenants and other agreements set forth in this Section 8. The Participant acknowledges and agrees that the restrictions contained in this Section 8 are critical and necessary to protect the Company’s and its Affiliates’ legitimate business interests and good will (including the protection of Confidential Information (as defined below)); are reasonably drawn to this end as to duration, place, and scope; are not unduly burdensome; are not injurious to the public interest; are supported by adequate consideration; and that his/her agreement to abide by such restrictions is made in order to induce the Company to offer the Participant the RSUs.

(a) Confidential Information.

(i) The Participant acknowledges and agrees that all information, whether or not in writing, concerning the Company’s and/or its Affiliates’ business, technology, business relationships or financial affairs which the Company and its Affiliates have not released to the general public, including but not limited to the identity of the clients, customers, suppliers, employees and consultants of the Company and its Affiliates, all information concerning the projects, products, program and marketing plans of the Company and its Affiliates, and all pricing and cost information, financial information, methodologies, know-how, processes, practices, approaches, projections, forecasts, formats, systems, data gathering methods and/or strategies of the Company and its Affiliates, irrespective of whether such information constitutes a trade secret under any applicable law (collectively, “Confidential Information”) is and will be the exclusive property of the Company and its Affiliates. Except in the good faith performance of the Participant’s duties as an employee of the Company or any of its Affiliates, the Participant shall not at any time while employed by the Company or any of its Affiliates, or any time thereafter, without the prior express written consent of the Company, directly or indirectly divulge, disclose, use or make available or accessible any Confidential Information to any person, firm, partnership, corporation, trust or any other entity or third party. In addition, the Participant shall not create any derivative work or other product based on or resulting from any

4

Confidential Information (except in the good faith performance of his/her duties as an employee of the Company or any of its Affiliates). The Participant recognizes that all of the documents and other tangible items which contain any Confidential Information are the Company’s and its Affiliates’ property exclusively, including those documents and items which the Participant may have developed or contributed to developing while in the Company’s or any of its Affiliates’ employ, whether or not developed during regular working hours or on the Company’s or any of its Affiliates’ premises.

(ii) The Participant shall not take any action (or engage in any omission) that would reduce the value of the Confidential Information to the Company or any of its Affiliates. The Participant shall return to the Company’s designee, no later than the effective date of the termination of his/her employment for any reason, and without retaining any copies, all property of the Company and its Affiliates, including but not limited to all notes or excerpts thereof, memoranda, computer disks or other media, computer programs, diaries, notes, records, data, customer or client lists, marketing plans and strategies, and any other documents consisting of or containing Confidential Information, that is in the Participant’s actual or constructive possession or which is subject to his/her control at such time.

(b) Intellectual Property/Assignment of Inventions.

(i) The Participant acknowledges and agrees that all ideas, inventions, copyrightable or patentable works, improvements, innovations, techniques, designs, methods, developments, products, services, technologies, writings, discoveries and the like (hereafter “Intellectual Property”) that the Participant makes, conceives, reduces to practice or develops, in whole or in part, either alone or jointly with others, in connection with the Participant’s employment with the Company or any of its Affiliates or with the use of any of the Company’s or any of its Affiliates’ resources, shall be considered “works made for hire” and shall be the sole property of the Company or such Affiliate to the maximum extent permitted by law and that the Company or such Affiliate shall be the sole owner of all rights in connection therewith. The Participant shall promptly and fully disclose all such Intellectual Property to the Company and hereby irrevocably assigns, transfers and conveys, to the maximum extent permitted by applicable law, all right, title and interest therein (including rights under patent, copyright, trademark, trade secret, unfair competition and related laws) to the Company or such Affiliate to the extent ownership of any such rights does not vest originally in the Company or such Affiliate.

(ii) The Participant acknowledges that he or she has conveyed and assigned, and hereby does convey and assign, to the Company (or, at the Company’s request, any of its Affiliates), for good and sufficient consideration, the entire right, title and interest, including any and all copyright, trademark and patent rights therein or relating thereto, in and to any Intellectual Property, whether or not patentable or copyrightable, that the Participant made, conceived, or reduced to practice prior to the date hereof, either solely or jointly with others, in connection with the Participant’s employment with the Company or any of its Affiliates or with the use of any of the Company’s or any of its Affiliates’ resources.

(iii) The Participant further agrees to, at the Company’s request and expense (but without additional compensation to the Participant), assist the Company or its

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designee in obtaining any patents and copyrights relating to any Intellectual Property described above and shall execute all documents and do all things necessary to obtain patents, copyrights, trademarks and trade names or to otherwise vest the Company (or its designee) with full and exclusive title thereto, and protect the same against infringement by others. If the Company is unable for any reason to secure the Participant’s signature on any document for this purpose, then the Participant hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as the Participant’s agent and attorney in fact, to act for and in the Participant’s behalf and stead to execute any documents and to do all other lawfully permitted acts in connection with the foregoing.

(c) Non-Competition. The Participant acknowledges and recognizes the highly competitive nature of the Business, the valuable Confidential Information to which the Participant has had and will continue to have access, and the customer goodwill associated with the ongoing business of the Company. Accordingly, the Participant agrees that during the period the Participant is employed by the Company or any of its Affiliates and for a period of twelve (12) months following the termination of the Participant’s employment for any reason, the Participant will not, anywhere in the world, directly or indirectly, alone or in conjunction with any other person or entity: (i) engage in any business for Participant’s own account that competes with the Business; (ii) enter the employ of, or render any services, whether as employee, consultant, independent contractor or otherwise, to any person or entity engaged in any business that competes with the Business; or (iii) acquire a financial interest in, or otherwise become involved with, any person or entity engaged in any business that competes with the Business, as an individual, partner, shareholder, officer, director, principal, agent, trustee, or consultant. Notwithstanding anything to the contrary in this Grant Notice, the Participant may directly or indirectly own, solely as a passive investment, securities of any person or entity that competes with or is engaged in a business similar to the Business that are publicly traded on a national or regional stock exchange or on the over-the-counter market if the Participant (i) is not a controlling person of, or a member of a group which controls, such person or entity and (ii) does not, directly or indirectly, own five percent (5%) or more of any class of securities of such person or entity.

(d) Client Non-Solicitation. During the period the Participant is employed by the Company or any of its Affiliates and for a period of twelve (12) months following the termination of the Participant’s employment for any reason, the Participant agrees that he/she will not, directly or indirectly: (i) call on, solicit, or perform services for any client to whom the Company or any of its Affiliates provided services at any time during the twelve (12) months immediately prior to the Participant’s termination of employment or any prospective client to whom the Company or any of its Affiliates had made a presentation at any time during the twelve (12) months immediately prior to the Participant’s termination of employment, for purposes related to competing with the Business; (ii) otherwise interfere with or attempt to interfere with business relationships established between the Company or any of its Affiliates and their respective clients or prospective clients; or (iii) assist or encourage any other person in carrying out the foregoing.

(e) Employee Non-Solicitation. During the period of time the Participant continues to be employed by the Company or any of its Affiliates, and for a period of twelve (12) months following the termination of the Participant’s employment for any reason, the Participant

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agrees that he/she will not (directly or indirectly, for himself/herself or on behalf of or in conjunction with any other person, company, partnership, corporation, business, group or other entity) employ, hire, solicit, recruit or assist in the solicitation or recruitment of any person who is then employed or engaged as an employee, consultant, or independent contractor by the Company or any of its Affiliates or encourage any employee, consultant or independent contractor of the Company or any of its Affiliates to leave the employment of or cease to perform services for the Company or any of its Affiliates.

(f) Non-Disparagement. The Participant agrees that he/she will not at any time, whether orally or in writing, make any false, defamatory or disparaging statements about the Company, its Affiliates, the officers or directors of the Company or its Affiliates, or the business, products or services of the Company or its Affiliates, that are reasonably likely to cause damage to the Company, its Affiliates or the officers or directors of the Company or its Affiliates. Nothing in this Section shall limit the ability of the Participant to provide truthful testimony as required by law or any judicial or administrative process.

(g) Cooperation Following Employment. The Participant agrees to cooperate with the Company and its Affiliates following the termination of the Participant’s employment for any reason by making himself/herself reasonably available to testify on behalf of the Company and its Affiliates in any action, suit, or proceeding, whether civil, criminal, administrative, or investigative, and to assist the Company and its Affiliates in any such action, suit, or proceeding, by providing information and meeting and consulting with the Company’s and its Affiliates’ representatives or counsel as requested; provided, however that such cooperation or participation does not materially interfere with the Participant’s then current professional activities. The Company agrees to reimburse the Participant, on an after-tax basis, for all expenses actually incurred in connection with his/her provision of testimony or assistance.

(h) Forfeiture of Severance and Other Payments in Event of Breach. The Participant acknowledges and agrees that no severance, awards or other payments to the Participant pursuant to this Grant Notice or any other agreement with or plan, program, policy or practice of the Company or any of its Affiliates, including but not limited to any employment agreement or restricted stock unit agreement between the Participant and the Company or any of its Affiliates, shall be due or payable to the Participant on or following the date that the Participant first breaches any provision(s) of this Section 8. The Participant acknowledges and agrees that the rights and remedies of the Company and its Affiliates under this Section 8(h) shall be in addition to, and shall in no way limit, any and all other rights and remedies to which the Company and its Affiliates are entitled under applicable law.

(i) Equitable Relief and Intended Third Party Beneficiaries. The Participant acknowledges and agrees that the Company’s and its Affiliates’ remedies at law for a breach or threatened breach of any of the provisions of this Section 8 would be inadequate and any such breach would cause irreparable harm, and, in recognition of this fact, the Participant agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law, the Company and its Affiliates, without posting any bond (to the extent permitted by applicable law), shall be entitled to obtain equitable relief in the form of specific performance, temporary restraining order, temporary, preliminary or permanent injunction or any other equitable remedy which may then be available. Each Affiliate of the Company is an intended third party beneficiary of this Section 8 and may enforce its terms as if it was a party hereto.

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(j) Court Modification. It is expressly understood and agreed that although the Participant and the Company consider the restrictions contained in this Section 8 to be reasonable, if a judicial determination is made by a court of competent jurisdiction that the time period or geographic scope or any other restriction contained in this Section 8 is invalid or unenforceable for any reason, the provisions of this Section 8 shall not be rendered void but shall be deemed reformed or modified only to the extent necessary to render them valid and enforceable in all respects. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Section 8 is unenforceable, and such restriction cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of any of the other restrictions contained herein.

(k) Tolling During Periods of Breach. The Participant acknowledges and agrees that the Participant’s obligations under Sections 8(c), (d) and (e) shall be tolled during any period that the Participant is in breach of any of the obligations under Sections 8(c), (d) and/or (e) so that the Company and its Affiliates are provided with the full benefit of the restrictive periods set forth therein (i.e., any period during which the Participant is in breach of any of the obligations under Sections 8(c), (d) and/or (e) will not count toward the 12-month post-employment restrictive periods set forth in Sections 8(c), (d) and/or (e)).

(l) Survival of Covenants. The restrictive covenants and other obligations set forth in this Section 8 shall survive any change in the Participant’s compensation, position, title, and duties and/or the termination of the Participant’s employment.

(m) No Arbitration of Claims. Notwithstanding the terms of this Grant Notice or any other agreement between the Participant and the Company or any of its Affiliates to the contrary, neither the Participant nor the Company or any of its Affiliates shall have the right to compel resolution of any claim arising under this Section 8 through arbitration or any other non judicial process.

(n) Other Agreements. The restrictive covenants and other obligations on the part of the Participant set forth in this Section 8 shall be construed independent of any other agreement which the Company or any of its Affiliates and the Participant may have, and the existence of any claim or cause of action by the Participant against the Company or any of its Affiliates, whether predicated upon a provision of this Section 8 or otherwise, shall not constitute a defense to the enforcement by the Company or any of its Affiliates of any covenant or restriction in this Section 8. In addition, any restrictive covenants and other similar obligations of the Participant contained in any other agreement between the Company or any of its Affiliates and the Participant remain in full force and effect in accordance with their terms, and shall not be superseded or otherwise affected by this Grant Notice.

9. Withholding. In the event that prior to any applicable RSU Vesting Date hereunder the Participant has not provided the Company with notice (which may be by written notice or by an election made via the website operated by the Administrator) (the “Payment Notice”) to the effect that the Participant will provide the Company (or the Administrator on the

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Company’s behalf) payment of the amount, if any, deemed necessary by the Company in its reasonable discretion to enable the Company and its Affiliates to satisfy the minimum federal, foreign or other tax withholding or similar obligations of the Company and its Affiliates with respect to the vesting and/or settlement of such RSUs on such RSU Vesting Date (and/or any other items which may be distributable to the Participant on the RSU Vesting Date pursuant to Section 3 hereof), or in the event the Participant provides the Payment Notice but does not deliver payment of the appropriate amount to the Company (or the Administrator on the Company’s behalf) by such RSU Vesting Date, then the Company shall satisfy the minimum federal, foreign or other tax withholding or similar obligation of the Company and its Affiliates with respect to such vesting and/or settlement by withholding the number of whole shares of Common Stock (on and valued as of the RSU Vesting Date) (and/or other items which may be distributable or creditable to the Participant on the RSU Vesting Date pursuant to Section 3 hereof) sufficient to satisfy such minimum withholding and other obligations.

10. Notices. All notices or other communications to be given or delivered in connection with this Grant Notice shall be either in electronic format or in writing and shall be deemed to have been properly served if delivered electronically, personally, by courier, or by certified or registered mail, return receipt requested and first class postage prepaid, in the case of notices to the Company, to the attention of Equity Administrator, Human Resources Department, at the Company’s offices at 133 Boston Post Road, Weston, MA 02493, and in the case of notices to the Participant, to the Participant’s last known address (as noted in the Participant’s personnel file) or such other addresses (including any electronic email addresses) as the recipient party has specified by prior notice to the sending party. All such notices and communications shall be deemed received upon the actual delivery thereof in accordance with the foregoing.

11. Binding Effect; Headings; Status. This Grant Notice shall be binding upon and shall inure to the benefit of the Company, the Participant and their respective successors and permitted assigns. The subject headings of Sections are included for the purpose of convenience only and shall not affect the construction or interpretation of any of the provisions of this Grant Notice. The Participant’s rights under this Grant Notice, including, without limitation, rights to RSUs, shall at all times that such rights exist represent a general obligation of the Company. The Participant shall be a general creditor of the Company with respect thereto and shall not have a secured or preferred position with respect thereto. Nothing in this Grant Notice or the Plan shall be deemed to create an escrow, trust, custodial account or fiduciary relationship of any kind.

12. Non-Assignability, Etc. The Participant’s rights and obligations under this Grant Notice, including, without limitation, rights to RSUs, are not assignable or transferable except upon the Participant’s death to a beneficiary designated by the Participant in a written beneficiary designation filed with the Company or, if no duly designated beneficiary shall survive the Participant, pursuant to the Participant’s will and/or by the laws of descent and distribution. Any and all such rights and obligations shall not be subject to anticipation, alienation, sale, transfer, encumbrance except as otherwise expressly permitted herein. This Grant Notice will bind and inure to the benefit of and be enforceable by the Participant, the Company, the Company’s successors and assigns and the Participant’s estate, heirs and legal representatives (as applicable).

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13. Securities Laws; Insider Trading. The Committee may from time to time impose any conditions on the RSUs and shares of Common Stock as it deems necessary or advisable to ensure that the Plan, this Grant Notice and the issuance and resale of any securities comply with all applicable securities laws, including without limitation the Securities Act and Rule 16b-3 under the Exchange Act. Such conditions may include, among other things, the requirement that certificates for shares of Common Stock to be issued to the Participant hereunder contain a restrictive legend in such form and substance as may be determined by the Committee. Without limiting the foregoing, it is understood that Affiliates of the Company may resell Common Stock only pursuant to an effective registration statement under the Securities Act, pursuant to Rule 144 under the Securities Act, or pursuant to another exemption from registration under the Securities Act. The Participant understands and agrees that any and all transactions involving shares of Common Stock or other securities of the Company must comply with applicable laws, rules, regulations and policies, including but not limited to the Company’s policy regarding insider trading, which policy, among other things, prohibits transactions involving shares of Common Stock or other securities of the Company by individuals who have material non-public information relating to the Company.

14. General. This Grant Notice shall be deemed to be an Award Agreement as defined in the Plan. Except as otherwise provided in Section 8(n), this Grant Notice constitutes the entire understanding of the legal obligations between the parties with respect to the subject matter hereof and controls and supersedes any prior understandings, agreements or representations by or between the parties, written or oral with respect to its subject matter, including but not limited to the provisions of any and all employment agreements, term sheets and offer letters (except for terms contained in any binding, written employment agreement providing for acceleration or other enhancement to restricted stock units upon the occurrence of specified events). The Participant has not relied on any representation not set forth in this Grant Notice.

15. Governing Law. This Grant Notice shall be governed by and construed under the substantive laws of the State of New York, without regard to the choice of law principles of any forum. Notwithstanding the location of the Participant’s employment for the Company or its Affiliates, be it within or without the State of New York, all actions or proceedings arising under or related to this Grant Notice must be exclusively brought in the state or federal courts serving New York County, New York. Each party, to the fullest extent permitted by applicable law, hereby (i) irrevocably accepts and submits to the exclusive jurisdiction of such courts (and of the appropriate appellate courts therefrom), generally and unconditionally, with respect to any such action, suit or proceeding, and (ii) waives any objection which he/she/it may now or hereafter have based on personal jurisdiction or to the laying of venue of any such action, suit or proceeding therein and agrees not to plead or claim that such action, suit or proceeding has been brought in an inconvenient forum.

16. Severability. If any provision of this Grant Notice as applied to any other provision of this Grant Notice or to any circumstance is adjudged by a court to be invalid or unenforceable, that provision will in no way affect any other provision of this Grant Notice, the application of that provision under any other circumstance, or the validity or enforceability of this Grant Notice.

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17. Amendment. This Grant Notice may be unilaterally amended by the Company without the Participant’s consent as provided in the Plan or to conform the Grant Notice to any changes required by the Administrator or as a result of the change of Administrator.

18. Acknowledgements. The Participant acknowledges that he/she has carefully reviewed this Grant Notice, that he/she has had an opportunity to consult with counsel of his/her choice, that he/she has entered into this Grant Notice freely and voluntarily and without reliance on any promises not expressly contained herein, that he/she has been afforded an adequate time to review carefully the terms hereof, and that this Grant Notice will not be deemed void or voidable by claims of duress, deception, mistake of fact, or otherwise. The principle of construction whereby all ambiguities are to be construed against the drafter will not be employed in the interpretation of this Grant Notice.

19. Deadline for Acceptance of Grant Notice. The deadline for accepting this Grant Notice is 15 Business Days following the date of the email notifying the Participant of the availability of this Grant Notice on the website of the Administrator; if the Participant does not accept this Grant Notice by such deadline (by clicking the “Accept” button associated with this Grant Notice on the website of the Administrator), then the grant of RSUs evidenced by this Grant Notice will be cancelled, and the RSUs will be forfeited.

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EX-10.9

Exhibit 10.9

MONSTER WORLDWIDE, INC.

NON-EMPLOYEE DIRECTOR

RESTRICTED STOCK UNIT AWARD AGREEMENT

THIS NON-EMPLOYEE DIRECTOR RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Agreement”) is made, effective as of                      (the “Grant Date”), by and between MONSTER WORLDWIDE, INC., a Delaware corporation (the “Company”), and                      (the “Non-Employee Director”).

W I T N E S S E T H:

WHEREAS, the Board Committee desires to award to the Non-Employee Director, pursuant to the Company’s Amended and Restated 2008 Equity Incentive Plan (the “Plan”), Restricted Stock Units (“RSUs”) upon the terms and conditions set forth in this Agreement and the Plan. Capitalized terms not otherwise defined herein shall have the same meanings as in the Plan.

NOW, THEREFORE, the parties hereto agree as follows:

1. Grant of RSUs. Subject to the terms and conditions of this Agreement and the Plan, the Non-Employee Director is awarded                      RSUs. The RSUs shall vest and payment in respect of such RSUs shall be made, if at all, in accordance with Section 2 hereof.

2. Vesting.

(a) The RSUs granted to the Non-Employee Director shall vest and payment in respect of such number of RSUs shall be made in accordance with Section 2(e) as to the percentage of the RSUs indicated on the dates specified below (each an “RSU Vesting Date”), provided that the Non-Employee Director has remained in the continuous service as a member of the Company’s Board from the Grant Date through and including each applicable RSU Vesting Date, except as provided in Sections 2(b) and 2(c):

Date	Incremental Percentage of Award Becoming Vested
First Anniversary of the Grant Date		25	%
Second Anniversary of the Grant Date		25	%
Third Anniversary of the Grant Date		25	%
Fourth Anniversary of the Grant Date		25	%

Any fractional RSUs resulting from the strict application of the incremental percentages set forth above will be disregarded and the actual number of RSUs becoming vested on any specific RSU Vesting Date will cover only the full number of RSUs determined by applying the relevant incremental percentage.

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(b) In the event that during the period of the Non-Employee Director’s service on the Board after the Grant Date:

(i) the Non-Employee Director dies, or

(ii) the Non-Employee Director incurs a disability (as determined by the Board Committee),

(such events are collectively referred to as “Acceleration Events”), then all outstanding unvested RSUs shall immediately vest and be payable as of the date of the applicable Acceleration Event, subject to Section 2(d) below.

(c) In the event that during the period of the Non-Employee Director’s service on the Board after the Grant Date a Change in Control shall occur, then all outstanding unvested RSUs that have not been forfeited prior to the date of such Change in Control shall vest and be payable on the date of such Change in Control.

(d) In the event that any calendar date on which vesting is purportedly scheduled pursuant to the terms of Sections 2(a), 2(b) or 2(c) above is not a Business Day (as defined below), the vesting shall automatically be delayed until the first Business Day following that calendar date. “Business Day” means a date on which commercial banks in New York, New York are open for general business.

(e) On or as soon as reasonably practicable following the applicable RSU Vesting Date, the Company shall issue to the Non-Employee Director one share of Common Stock with respect to each whole RSU that vests on such date, subject to Sections 3 and 6 below. Upon the issuance of such shares, all obligations of the Company with respect to each such RSU shall be deemed satisfied in full.

3. Certain Changes; Rights as a Stockholder. The number and class of shares of Common Stock or other securities which are distributable to the Non-Employee Director with respect to any RSU covered by this Agreement shall be adjusted proportionately or as otherwise appropriate to reflect any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, spin-off, split-off, split-up, recapitalization, capital reorganization, reclassification of shares of Common Stock, merger or consolidation, or any like capital adjustment, or the payment of any stock dividend, and/or to reflect a change in the character or class of shares covered by the Plan arising from a readjustment or recapitalization of the Company’s capital stock, in each case as determined by the Board Committee. The Non-Employee Director shall not have any rights to cash dividends, voting rights or other rights of a stockholder with respect to the RSUs covered by this Agreement until the Company issues Common Stock to the Non-Employee Director in accordance with Section 2(e).

4. No Right to Continue as a Non-Employee Director. Nothing in this Agreement shall give the Non-Employee Director any right to continue as a member of the Board.

5. Plan Provisions. The provisions of the Plan shall govern, and if or to the extent that there are inconsistencies between those provisions and the provisions hereof, the provisions of the Plan shall govern. The Non-Employee Director acknowledges receipt of a copy of the Plan prior to the execution of this Agreement.

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6. Withholding. Prior to any applicable RSU Vesting Date hereunder, the Company and the Non-Employee Director may make mutually acceptable arrangements for the Company to withhold shares of Common Stock (on and valued as of the RSU Vesting Date) and remit the corresponding amount of cash to the appropriate taxing authorities in connection with federal, state or other tax obligations of the Non-Employee Director.

7. Binding Effect; Headings; Status. This Agreement shall be binding upon and shall inure to the benefit of the Company, the Non-Employee Director and their respective successors and permitted assigns. The subject headings of Sections are included for the purpose of convenience only and shall not affect the construction or interpretation of any of the provisions of this Agreement. The Non-Employee Director’s rights under this Agreement, including, without limitation, rights to RSUs, shall at all times that such rights exist represent a general obligation of the Company. The Non-Employee Director shall be a general creditor of the Company with respect thereto and shall not have a secured or preferred position with respect thereto. Nothing in this Agreement or the Plan shall be deemed to create an escrow, trust, custodial account or fiduciary relationship of any kind.

8. Non-Assignability, Etc. The Non-Employee Director’s rights under this Agreement, including, without limitation, rights to RSUs, are not assignable or transferable except upon the Non-Employee Director’s death to a beneficiary designated by the Non-Employee Director in a written beneficiary designation filed with the Company or, if no duly designated beneficiary shall survive the Non-Employee Director, pursuant to the Non-Employee Director’s will and/or by the laws of descent and distribution. Any and all such rights shall not be subject to anticipation, alienation, sale, transfer, encumbrance except as otherwise expressly permitted herein. This Agreement will bind and inure to the benefit of and be enforceable by the Non-Employee Director, the Company, the Company’s successors and assigns and the Non-Employee Director’s estate, heirs and legal representatives (as applicable).

9. Securities Laws; Insider Trading. The Board Committee may from time to time impose any conditions on the RSUs and shares of Common Stock as it deems necessary or advisable to ensure that the Plan, this Agreement and the issuance and resale of any securities comply with all applicable securities laws, including without limitation the Securities Act and Rule 16b-3 under the Exchange Act. Such conditions may include, among other things, the requirement that certificates for shares of Common Stock to be issued to the Non-Employee Director hereunder contain a restrictive legend in such form and substance as may be determined by the Board Committee. Without limiting the foregoing, it is understood that Affiliates of the Company may resell Common Stock only pursuant to an effective registration statement under the Securities Act, pursuant to Rule 144 under the Securities Act, or pursuant to another exemption from registration under the Securities Act. The Non-Employee Director understands and agrees that any and all transactions involving shares of Common Stock or other securities of the Company must comply with applicable laws, rules, regulations and policies, including but not limited to the Company’s policy regarding insider trading, which policy, among other things, prohibits transactions involving shares of Common Stock or other securities of the Company by individuals who have material non-public information relating to the Company.

10. General. This Agreement shall be deemed to be an Award Agreement as defined in the Plan. This Agreement constitutes the entire understanding of the legal obligations between

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the parties with respect to the subject matter hereof and controls and supersedes any prior understandings, agreements or representations by or between the parties, written or oral with respect to its subject matter. The Non-Employee Director has not relied on any representation not set forth in this Agreement.

11. Governing Law. This Agreement shall be governed by and construed under the substantive laws of the State of New York, without regard to the choice of law principles of any forum. All actions or proceedings arising under or related to this Agreement must be exclusively brought in the state or federal courts serving New York County, New York. Each party, to the fullest extent permitted by applicable law, hereby (i) irrevocably accepts and submits to the exclusive jurisdiction of such courts (and of the appropriate appellate courts therefrom), generally and unconditionally, with respect to any such action, suit or proceeding, and (ii) waives any objection which he/she/it may now or hereafter have based on personal jurisdiction or to the laying of venue of any such action, suit or proceeding therein and agrees not to plead or claim that such action, suit or proceeding has been brought in an inconvenient forum.

12. Severability. If any provision of this Agreement as applied to any other provision of this Agreement or to any circumstance is adjudged by a court to be invalid or unenforceable, that provision will in no way affect any other provision of this Agreement, the application of that provision under any other circumstance, or the validity or enforceability of this Agreement.

13. Amendment and Waiver. This Agreement may be unilaterally amended by the Company without the Non-Employee Director’s consent as provided in the Plan. Except as provided in the immediately preceding sentence, this Agreement may be amended, modified, superseded, canceled, renewed or extended, and the terms or covenants hereof may be waived, only by a written instrument executed on behalf of the Company (as authorized by the Board Committee) and the Non-Employee Director.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement.

MONSTER WORLDWIDE, INC.

By:

Agreed and acknowledged as of the date first above written:

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EX-10.18

Exhibit 10.18

Monster Worldwide, Inc.

622 Third Avenue

New York, NY 10017

November 3, 2014

Mr. Salvatore Iannuzzi

c/o Monster Worldwide, Inc.

622 Third Avenue

New York, NY 10017

Dear Sal:

This letter (the “Letter”) confirms your resignation, effective as of November 4, 2014, from your position as the Chief Executive Officer of Monster Worldwide, Inc. (the “Company”). You shall continue to be an employee of the Company until June 30, 2015 (your “Separation Date”), at which time your employment with the Company shall terminate and, except as otherwise provided herein, you shall resign from all other positions (except as a director) you hold with the Company and/or its subsidiaries. In order to facilitate the continued smooth implementation of the Company’s long-term strategic business plan, you shall continue to serve on the board of directors of the Company (the “Board”). In order to facilitate the smooth transition which we anticipate to be completed by the end of the first quarter of 2015, we will notify you of the services and activities that we expect you to perform. Commencing as of the date hereof, you shall be the Non-Executive Chairman of the Board. Until your Separation Date, (i) you shall continue to be compensated for your services to the Company pursuant to the terms and conditions of your employment agreement with the Company dated April 11, 2007, as amended (your “Employment Agreement”), (ii) you shall perform such services for the Company at its headquarters in New York City as may be reasonably requested, (iii) the Company shall continue to provide your current car service to you for your commute between your home and the Company’s offices in New York City in respect of the Company’s business, and (iv) the Company shall reimburse you for the cost of personal income tax advice and preparation assistance, not to exceed $20,000. Following your Separation Date, you shall be compensated for your service as a director and Non-Executive Chairman of the Board in accordance with the Company’s compensation policy for non-employee directors and, during your service as Non-Executive Chairman of the Board, the Company shall provide you a fully-furnished office in New York City and secretarial assistance.

You and the Company agree that your separation from service will be treated as a termination by the Company without Cause as of this date for purposes of Section 6(a)(v) of your Employment Agreement, the letter agreement dated July 30, 2013 (the “Letter Agreement”) and any equity awards granted to you by the Company. As of your Separation Date, you will be entitled to receive the payments benefits and payments described in Section 7(a) of your Employment Agreement, including, without limitation, any accrued but unused vacation days and any unreimbursed business expenses. In addition, as of your Separation Date and contingent upon your continued compliance with the terms of this Letter and the restrictive covenants set forth in Section 9 of your Employment Agreement, you shall also be entitled to (i) the payments and benefits set forth in Section 7(b) of your Employment Agreement, and (ii) the supplemental retirement medical benefits set forth in Section 8 of the Letter Agreement (without regard to the timing of your termination of employment) This Letter satisfies the Separation and Release Agreement requirement set forth in Section 7(b) of your Employment Agreement.

In recognition of the services you provided in developing the Company’s long-term strategic business plan and transition, the Company shall pay you an additional $2,000,000 on June 30, 2015 subject to review by May 15, 2015, by a committee consisting of the Board’s lead independent director, the Company’s chief executive officer and the Board’s Audit Committee Chairperson, of the success of such transition. Subject to the above and your continued compliance with restrictive covenants set forth in Section 9 of your Employment Agreement, such $2,000,000 amount shall be paid to you on or about June 30, 2015, and, notwithstanding anything to the contrary herein, such amount shall be payable immediately upon a Change in Control (as defined in your Employment Agreement).

You acknowledge and agree that, except for the payments and benefits set forth above, you will not be entitled to any compensation, award or damages with respect to your employment or termination of employment. You further acknowledge and agree that the Company may withhold from any payments described in this Letter such federal, state or local income taxes to the extent determined necessary by the Company in its discretion to be withheld pursuant to any applicable law or regulation. You acknowledge and agree that you are responsible for the payment of any income or other taxes due with respect to any payments or benefits described herein or otherwise from the Company.

You acknowledge and agree that from and after the date of this Letter, you shall not, publicly or privately, directly or indirectly disparage or make any statements (written or oral) that would impugn the integrity, acumen (business or otherwise), ethics or business practices, of the Company or its subsidiaries or their respective directors, officers, employees, or affiliates. The Company acknowledges and agrees that it and its officers and directors shall not, publicly or privately, directly or indirectly disparage or make any statements (written or oral) that would impugn your integrity, acumen (business or otherwise) or ethics. Nothing in this paragraph shall preclude you, the Company or its officers and directors from complying with any applicable law, any government authority or agency or any recognized subpoena power.

You hereby release, acquit and forever discharge the Company, its affiliates and subsidiaries, and their respective officers, directors, agents, servants, employees, shareholders, successors, assigns and affiliates, of and from any and all claims, liabilities, demands, causes of action, costs, expenses, attorneys’ fees, damages, indemnities and obligations of every kind and nature, in law, equity, or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed (other than any claim for indemnification you may have as a result of any third party action against you based on your employment with, or your position as a director of, the Company), arising out of or in any way related to agreements, events, acts or conduct at any time prior to and including the date of this Letter, including but not limited to: all such claims and demands directly or indirectly arising out of or in any way connected with your employment with the Company or the termination of that employment, including but not limited to, claims of intentional and negligent infliction of emotional distress, any and all tort claims for personal injury, claims or demands related to salary, bonuses, commissions, stock, stock options, or any other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form of compensation; claims pursuant to any federal, state or local law or cause of action including, but not limited to, the federal Civil Rights Act of 1964, as amended; the federal Age Discrimination in Employment Act of 1967, as amended (“ADEA”); the federal Americans with Disabilities Act of 1990; the New York State Human Rights Act; the New York State Labor Law; the Massachusetts Wage Act; the Massachusetts Fair Employment Practices Act; tort law; contract law; wrongful discharge; discrimination; fraud; defamation; emotional distress; and breach of the implied covenant of good faith and fair dealing; provided, however, that nothing in this paragraph shall be construed in any way to release the Company from its obligation to provide you with the rights, benefits and payments set forth herein or your rights to indemnification, coverage under the Company’s D&O insurance policy or any vested benefits under any pension benefit plan maintained by the Company.

The Company and its subsidiaries hereby release, acquit and forever discharge you of and from any and all claims, liabilities, demands, causes of action, costs, expenses, attorneys’ fees, damages, indemnities and obligations of every kind and nature, in law, equity, or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way related to agreements, events, acts or conduct at any time prior to and including the date of this Letter, including but not limited to: all such claims and demands directly or indirectly arising out of or in any way connected with your employment with the Company or the termination of that employment, including but not limited to any federal, state or local law or cause of action or breach of the implied covenant of good faith and fair dealing; provided, however, that nothing in this paragraph shall be construed in any way to release the you from your obligations set forth herein and under the Employment Agreement to the extent referred to herein.

You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may have under the ADEA. You acknowledge that the consideration given for the release in this Letter and described in this Letter is in addition to anything of value to which you were already entitled. You further acknowledge that you have been advised by this writing, as required by the ADEA, that: (a) the release in this Letter does not apply to any rights or claims that may arise after the date you sign this Letter; (b) you have the right to consult with an attorney prior to executing this Letter and have been advised to do so; (c) you have twenty-one (21) days to consider this Letter (although you may choose to voluntarily execute this Letter earlier); (d) you have seven (7) days following your execution of this letter to revoke the release in this Letter by providing written notice to the Company; and (e) the release in this Letter shall not be effective until the date upon which the revocation period has expired without exercise, which shall be the eighth day after you execute this Letter.

You and the Company agree that any announcement by the Company with respect to the termination of your employment will be disclosed to you prior to its issuance or publication and you will have a reasonable period of time within which to comment on the content of any such announcement.

This Letter or any portion hereof may not be waived, amended or modified other than by a written agreement executed by you and the Company.

This Letter will be governed by the laws of the State of New York without giving effect to its rules governing conflicts of laws. Any legal action or other proceeding brought for enforcement of this Letter shall be resolved in accordance with the dispute resolution and arbitration procedures set forth in Section 19 of your Employment Agreement. The provisions of Section 26 of your Employment Agreement, relating to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), are incorporated herein by reference. None of the Company, its affiliates and subsidiaries or their respective directors, officers, employees or advisors will be held liable for any taxes, interest or other amounts owed by you as a result of the application of Code Section 409A.

This Letter represents the entire agreement between you and the Company concerning the subject matter of your termination of employment with the Company and severance entitlements, and, except as

expressly set forth herein, supersedes all other agreements, promises or understandings, oral or written. This Letter may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Letter shall inure to the benefit of your beneficiaries, heirs or estate, as applicable.

The Company greatly appreciates your efforts and dedication on behalf of the Board and the Company.

Sincerely,
MONSTER WORLDWIDE, INC.
By:	/s/ Edmund Giambastiani
Edmund Giambastiani
Lead Director and Chairman of the Compensation Committee

ACKNOWLEDGE AND AGREED

AS OF NOVEMBER 3, 2014:

/s/ Salvatore Iannuzzi

Salvatore Iannuzzi

EX-10.23

Exhibit 10.23

EXECUTION COPY

FIRST AMENDMENT

TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT

THIS FIRST AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT, dated as of February 6, 2015 (this “Amendment”), to the Existing Credit Agreement (such capitalized term and other capitalized terms used in this preamble and the recitals below to have the meanings set forth in, or are defined by reference in, Article I below) is made by MONSTER WORLDWIDE, INC., a Delaware corporation (the “Company”), and the Lenders party hereto.

W I T N E S S E T H:

WHEREAS, the Company, the Lenders and Bank of America, N.A., as Administrative Agent, are all parties to the Third Amended and Restated Credit Agreement, dated as of October 31, 2014 (as amended or otherwise modified prior to the date hereof, the “Existing Credit Agreement”, and as amended by this Amendment and as the same may be further amended, supplemented, amended and restated or otherwise modified from time to time, the “Credit Agreement”); and

WHEREAS, the Company has requested that the Lenders amend certain provisions of the Existing Credit Agreement, and the Lenders are willing to effect such amendments, on the terms and subject to the conditions hereinafter set forth;

NOW, THEREFORE, the parties hereto hereby covenant and agree as follows:

ARTICLE I

DEFINITIONS

SECTION 1.1. Certain Definitions. The following terms when used in this Amendment shall have the following meanings (such meanings to be equally applicable to the singular and plural forms thereof):

“Amendment” is defined in the preamble.

“Amendment Effective Date” is defined in Article III.

“Company” is defined in the preamble.

“Credit Agreement” is defined in the first recital.

“Existing Credit Agreement” is defined in the first recital.

SECTION 1.2. Other Definitions. Terms for which meanings are provided in the Credit Agreement are, unless otherwise defined herein or the context otherwise requires, used in this Amendment with such meanings.

1

ARTICLE II

AMENDMENT TO CREDIT AGREEMENT

Effective on (and subject to the occurrence of) the Amendment Effective Date, the definition of “Consolidated EBITDA” appearing in Section 1.01 of the Existing Credit Agreement is amended by (a) deleting the word “and” immediately before the text “(vii)” appearing therein, and (b) inserting a new clause after the text “$6,400,000” appearing therein, to read as follows:

, and (viii) costs, restructuring charges and losses (that are primarily related to severance costs in Europe and North America) in connection with an expense reduction plan, in each case to the extent incurred during the fiscal year ending December 31, 2015, in an aggregate amount not to exceed $20,000,000

Except as expressly so amended, the Existing Credit Agreement shall continue in full force and effect in accordance with its terms.

ARTICLE III

CONDITIONS TO EFFECTIVENESS

This Amendment shall become effective on the date first written above (the “Amendment Effective Date”) following receipt by the Administrative Agent of (a) counterparts hereof executed on behalf of the Company and the Required Lenders, and (b) for the ratable benefit of each Lender that has delivered its signature page in a manner and before the time set forth below, a non-refundable fee in an amount equal to 0.125% of such Lender’s Total Credit Exposure as of the Amendment Effective Date, but payable only to each such Lender that has delivered (including by way of facsimile or email) its executed signature page to this Amendment to the attention of Will Walker at Winstead PC, 201 N. Tryon Street, Suite 2000, Charlotte, North Carolina 28202, facsimile number: 704-339-1701, email address: wwalker@winstead.com, at or prior to 12:00 p.m. (Eastern time) on February 6, 2015.

ARTICLE IV

MISCELLANEOUS

SECTION 4.1. Cross-References. References in this Amendment to any Article or Section are, unless otherwise specified, to such Article or Section of this Amendment.

SECTION 4.2. Loan Document Pursuant to Existing Credit Agreement. This Amendment is a Loan Document executed pursuant to the Existing Credit Agreement and shall (unless otherwise expressly indicated therein) be construed, administered and applied in accordance with all of the terms and provisions of the Existing Credit Agreement, as amended hereby, including Article X thereof.

2

SECTION 4.3. Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

SECTION 4.4. Counterparts. This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Amendment constitutes the entire contract among the parties relating to the subject matter hereof and supersedes any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Delivery of an executed counterpart of a signature page of this Amendment by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Amendment.

SECTION 4.5. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

SECTION 4.6. Full Force and Effect; Limited Amendment. Except as expressly amended hereby, all of the representations, warranties, terms, covenants, conditions and other provisions of the Existing Credit Agreement and the other Loan Documents shall remain unchanged and shall continue to be, and shall remain, in full force and effect in accordance with their respective terms. The amendments set forth herein shall be limited precisely as provided for herein to the provisions expressly amended herein and shall not be deemed to be an amendment to, waiver of, consent to or modification of any other term or provision of the Existing Credit Agreement or any other Loan Document or of any transaction or further or future action on the part of any Loan Party which would require the consent of the Lenders under the Existing Credit Agreement or any of the Loan Documents.

SECTION 4.7. Representations and Warranties. In order to induce the Lenders to execute and deliver this Amendment, the Company hereby represents and warrants to the Lenders that, both before and after giving effect to this Amendment, all statements set forth in clauses (a) and (b) of Section 4.02 of the Credit Agreement are true and correct.

3

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the date first above written.

MONSTER WORLDWIDE, INC.
By:	/s/ James Langrock
	Name:	James Langrock
	Title:	Chief Financial Officer

Monster – First Amendment to Third Amended

and Restated Credit Agreement

Acknowledged by
BANK OF AMERICA, N.A., as Administrative Agent
By:	/s/ Angela Larkin
	Name:	Angela Larkin
	Title:	Assistant Vice President

Monster – First Amendment to Third Amended

and Restated Credit Agreement

BANK OF AMERICA, N.A.,
as a Lender
By:	/s/ Steven J. Melicharek
	Name:	Steven J. Melicharek
	Title:	Senior Vice President

Monster – First Amendment to Third Amended

and Restated Credit Agreement

KeyBank National Association,
as a Lender
By:	/s/ David A. Wild
	Name:	David A. Wild
	Title:	Senior Vice President

Monster – First Amendment to Third Amended

and Restated Credit Agreement

CAPITAL ONE, N.A.,
as a Lender
By:	/s/ Scott Bognar
	Name:	Scott Bognar
	Title:	Senior Vice President

Monster – First Amendment to Third Amended

and Restated Credit Agreement

REGIONS BANK,
as a Lender
By:	/s/ Knight D. Kieffer
	Name:	Knight D. Kieffer
	Title:	Vice President

Monster – First Amendment to Third Amended

and Restated Credit Agreement

Santander N.A.,
as a Lender
By:	/s/ Constantine Krikos
	Name:	Constantine Krikos
	Title:	Vice President

Monster – First Amendment to Third Amended

and Restated Credit Agreement

BankUnited, N.A.,
as a Lender
By:	/s/ John S. Wamboldt
	Name:	John S. Wamboldt
	Title:	Senior Vice President

Monster – First Amendment to Third Amended

and Restated Credit Agreement

EX-21.1

Exhibit 21.1

Subsidiaries of Monster Worldwide, Inc.*

Name of Entity	Jurisdiction
MonsterTrak Corporation	California
Affinity Labs, LLC	Delaware
FastWeb, LLC	Delaware
FinAid Page, L.L.C.	Delaware
KJB Holding Corp.	Delaware
Military Advantage, Inc.	Delaware
Monster Asia Pacific Holding Corp.	Delaware
Monster CZ Holdings, LLC	Delaware
Monster Emerging Markets, LLC	Delaware
Monster Government Solutions, LLC	Delaware
Monster International Holding Corp.	Delaware
Monster Labs, LLC	Delaware
Monster Worldwide South Carolina, Inc.	Delaware
Monster Worldwide Technologies, LLC	Delaware
OCC.com Inc.	Delaware
PWP, LLC	Delaware
TalentBin, Inc.	Delaware
Tickle Inc.	Delaware
TMAT Inc.	Delaware
Trovix Inc.	Delaware
Gozaik LLC	Massachusetts
Radiker, Inc.	Massachusetts
Monster Worldwide Austria GmbH	Austria
Monster Belgium NV	Belgium
Monster Worldwide Canada Inc.	Canada
Monster Worldwide Holdings Canada Inc.	Canada
Monster Technologies Prague s.r.o.	Czech Republic
Monster Worldwide C.Z. s.r.o.	Czech Republic
Monster Executive Services Limited	England
Monster Worldwide Holdings Limited	England
Monster Worldwide Limited	England
Monster Worldwide SAS	France
Monster Worldwide Deutschland GmbH	Germany
Monster Worldwide Deutschland Holdings GmbH	Germany
Monster.com Asia Ltd.	Hong Kong
Monster.com Asia Pacific Ltd.	Hong Kong
Monster.com HK Ltd.	Hong Kong
Monster.com India Pvt. Ltd.	India
Monster Worldwide Holdings (Ireland) Ltd.	Ireland
Monster Worldwide Ireland Limited	Ireland
Monster Italia Srl	Italy
TMP Worldwide Italia SpA	Italy
Monster Luxembourg SA	Luxembourg
Monster Malaysia Sdn. Bhd.	Malaysia
Monster Technologies Malaysia Sdn. Bhd.	Malaysia
Monster Worldwide Netherlands B.V.	Netherlands
Monster Worldwide Netherlands Holding B.V.	Netherlands
Monster Worldwide Norway AS	Norway
Monster Recruitment Limited Liability Company	Russia

Exhibit 21.1

Subsidiaries of Monster Worldwide, Inc.*

Name of Entity	Jurisdiction
Monster.com SG Pte. Ltd.	Singapore
JobKorea Ltd.	South Korea
Monster Worldwide, SL	Spain
Monster Worldwide Scandinavia AB	Sweden
Monster Services & Consulting GmbH	Switzerland
Monster Worldwide Switzerland AG	Switzerland

* The names of certain subsidiaries have been omitted from this Exhibit 21.1 in accordance with applicable rules. The omitted subsidiaries, considered in the aggregate as a single subsidiary, did not constitute a “significant subsidiary” (as defined in Rule 1-02(v) of Regulation S-X) at December 31, 2014.

EX-23.1

Exhibit 23.1

Consent of Independent Registered Public Accounting Firm

Monster Worldwide, Inc.

New York, New York

We hereby consent to the incorporation by reference in its Registration Statements on Form S-8 (Nos. 333-81843, 333-63631, 333-50699, 333-18937, 333-131899, 333-151430, 333-160196, 333-175606 and 333-201059) of Monster Worldwide, Inc., of our reports dated February 10, 2015, relating to the Company’s consolidated financial statements and the effectiveness of Monster Worldwide, Inc.’s internal control over financial reporting, which appear in the Form 10-K.

/s/ BDO USA, LLP

New York, New York

February 10, 2015

EX-31.1

Exhibit 31.1

CERTIFICATION

PURSUANT TO EXCHANGE ACT RULES 13A-14(A) AND 15D-14(A),

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Timothy T. Yates, certify that:

(1) I have reviewed this annual report on Form 10-K of Monster Worldwide, Inc.;

(2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

(3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

(4) The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

(5) The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

By:	/s/ TIMOTHY T. YATES
	Timothy T. Yates
	President and Chief Executive Officer

Date: February 10, 2015

EX-31.2

Exhibit 31.2

CERTIFICATION

PURSUANT TO EXCHANGE ACT RULES 13A-14(A) AND 15D-14(A),

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, James M. Langrock, certify that:

(1) I have reviewed this annual report on Form 10-K of Monster Worldwide, Inc.;

(2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

(3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

(4) The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

(5) The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

By:	/s/ JAMES M. LANGROCK
	James M. Langrock
	Executive Vice President and Chief Financial Officer

Date: February 10, 2015

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Monster Worldwide, Inc. (the “Company”) on Form 10-K for the year ended December 31, 2014 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Timothy T. Yates, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

By:	/s/ TIMOTHY T. YATES
	Timothy T. Yates
	President and Chief Executive Officer
	Date: February 10, 2015

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Monster Worldwide, Inc. and will be retained by Monster Worldwide, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Monster Worldwide, Inc. (the “Company”) on Form 10-K for the year ended December 31, 2014 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, James M. Langrock, Executive Vice President and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

By:	/s/ JAMES M. LANGROCK
	James M. Langrock
	Executive Vice President and Chief Financial Officer
	Date: February 10, 2015

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Monster Worldwide, Inc. and will be retained by Monster Worldwide, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

XML

FINANCIAL DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Position of Derivatives

The fair value position (recorded in interest and other, net, in the consolidated statements of operations and comprehensive loss) of our derivatives are as follows:

	December 31, 2014
	Component of	Notional Amount		Maturity Dates		Fair Value
Designated as Hedges under ASC 815
None		$	—			$	—
Not Designated as Hedges under ASC 815
Foreign currency exchange forwards	Prepaid and other		15,902		January 2015		74
Foreign currency exchange forwards	Accrued expenses and other current liabilities		25,378		January 2015		(265	)
Total Derivative Instruments		$	41,280			$	(191	)
	December 31, 2013
	Component of	Notional Amount		Maturity Dates		Fair Value
Designated as Hedges under ASC 815
None		$	—			$	—
Not Designated as Hedges under ASC 815
Foreign currency exchange forwards	Prepaid and other		43,265		January 2014		255
Foreign currency exchange forwards	Accrued expenses and other current liabilities		4,757		January 2014		(9	)
Total Derivative Instruments		$	48,022			$	246

Amounts of Unrealized and Realized Net Gains and Changes in Fair Value of Derivative Positions

The amounts of unrealized and realized net gains and changes in the fair value of our derivative positions are as follows:

	Location of Realized Net Gains and Changes in the Fair Value of Forward Contracts	Amount of Realized Net Gains and Changes in the Fair Value of Forward Contracts
		The year ended December 31,
		2014		2013		2012
Foreign currency exchange forwards	Interest and Other, net	$	48	$	644	$	2,060
	Discontinued Operations		—		160		—
		$	48	$	804	$	2,060

XML

Noncontrolling Interest - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended					12 Months Ended		1 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2013	Nov. 30, 2013
Noncontrolling Interest [Line Items]
Noncontrolling interest in subsidiary	$ 54,247				$ 54,474	$ 54,247	$ 54,474	$ 54,474
Net income attributable to noncontrolling interest	1,528	1,318	1,462	1,174	193	5,482	193
JobKorea Ltd.
Noncontrolling Interest [Line Items]
Percentage ownership interest sold					49.99%		49.99%	49.99%
Cash consideration received upon sale of interest in subsidiary								90,000	90,000
Transaction cost related to the agreement with H&Q Korea						$ 3,500

XML

Reconciliation of Shares Used in Calculating Basic and Diluted Earnings Per Share (Detail) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Basic weighted-average shares outstanding	87,478	86,576	87,080	91,102	97,872	105,394	110,932	111,402	88,045		106,947		112,866
Effect of common stock equivalents-stock options and non-vested stock under employee compensation plans									0	[1]	966	[1]	1,129	[1]
Diluted weighted-average shares outstanding	87,478	86,576	89,955	94,416	97,872	105,967	111,937	112,637	88,045	[1]	107,913	[1]	113,995	[1]
Weighted-average anti-dilutive common stock equivalents									6,937	[1]	5,337	[1]	7,167	[1]

[1] For periods in which losses are presented, dilutive earnings per share calculations do not differ from basic earnings per share because the effects of any potential common stock equivalents are anti-dilutive and therefore not included in the calculation of dilutive earnings per share. For the year ended December 31, 2014, those potential shares totaled 3,046 which are included in the weighted average anti-dilutive common stock equivalents above, in addition to 3,891 of out of the money anti-dilutive common stock equivalents for the year ended December 31, 2014.

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Reclassifications Out of Accumulated Other Comprehensive Income (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain on deconsolidation of subsidiaries, net				$ 11,828					$ 11,828
Loss from discontinued operations, net of tax						3,095	(759)	(6,134)		(3,798)	(316,886)
Net (loss) income attributable to Monster Worldwide, Inc.	(289,719)	(1,669)	34	2,065	(20,115)	11,269	3,380	4,984	(289,289)	(482)	(258,720)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net (loss) income attributable to Monster Worldwide, Inc.									1,819	(23,109)
Reclassification out of Accumulated Other Comprehensive Income | Foreign Currency Translation Adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain on deconsolidation of subsidiaries, net									1,819
Loss from discontinued operations, net of tax										$ (23,109)

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Business Combinations - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended	3 Months Ended
	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Aggregate consideration for acquisitions	$ 27,005
Business acquisitions goodwill amount	540,621		895,518
TalentBin, Inc and Gozaik LLC Acquisition
Business Acquisition [Line Items]
Aggregate consideration for acquisitions		27,005
Consideration in escrow accounts		1,750
Business acquisitions goodwill amount		25,061
Business acquisitions deferred tax assets		907
Business acquisitions purchased technology		1,740
Business acquisitions other intangibles		730
Business acquisitions other assets		249
Business acquisitions liabilities		1,482
Goodwill deductible for tax purposes		$ 10,500

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Supplemental Cash Flow Information (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Cash Flow, Supplemental [Line Items]
Interest paid	$ 7,390	$ 7,422	$ 11,100
Income tax paid, net	7,843	3,544	16,654
Non-cash investing and financing activities:
Net assets of entities contributed to Alma Career Oy	4,200
Excess income tax benefit from equity compensation plans	$ 199	$ 5,907

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Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended	12 Months Ended
	Feb. 05, 2013 Segment	Dec. 31, 2014	Dec. 31, 2014 Segment	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Oct. 22, 2014
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of reportable segments	4		3
Allowance for doubtful accounts		$ 3,295,000	$ 3,295,000	$ 3,995,000	$ 4,721,000	$ 5,240,000
Allowance for doubtful accounts attributable to discontinued operations		0	0	0	796,000
Capitalized patent defense costs			4,539,000
Pre-tax goodwill impairment		325,800,000	325,800,000		262,650,000
Goodwill impairment, net of tax		263,047,000
Goodwill impairment, tax benefit		62,753,000	62,753,000
Impairment charge on indefinite-lived intangible asset		1,000,000
3.50% Convertible Senior Notes Due 2019
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Debt instrument, interest rate		3.50%	3.50%				3.50%
Debt instrument, conversion price per share		$ 5.33	$ 5.33				$ 5.33
Careers North America
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Pre-tax goodwill impairment		263,000,000	263,000,000
Internet Advertising & Fees
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Pre-tax goodwill impairment		$ 62,800,000	$ 62,800,000
Internal Use Software and Website Development Costs
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Property, plant and equipment, useful life			5 years
Minimum
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Property, plant and equipment, useful life			3 years
Amortizable intangible assets, useful life (in years)			2 years
Maximum
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Property, plant and equipment, useful life			10 years
Amortizable intangible assets, useful life (in years)			10 years

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RESTRUCTURING AND OTHER SPECIAL CHARGES (Tables)

12 Months Ended

Dec. 31, 2014

Restructuring and Other Special Charges and Related Liability Balances

The following table displays a roll forward of the November 2012 Restructuring and other special charges and related liability balances, excluding discontinued operations:

	Accrual at December 31, 2013		Expense		Cash Payments			Non-Cash Utilization		Accrual at December 31, 2014
Workforce reduction	$	1,057	$	—	$	(648	)	$	—	$	409
Consolidation of office facilities		4,063		—		(1,535	)		—		2,528
Other costs and professional fees		128		—		(124	)		—		4
Total	$	5,248	$	—	$	(2,307	)	$	—	$	2,941

	Accrual at December 31, 2012		Expense		Cash Payments			Non-Cash Utilization			Accrual at December 31, 2013
Workforce reduction	$	11,902	$	9,645	$	(18,669	)	$	(1,821	)	$	1,057
Consolidation of office facilities		—		6,028		(1,965	)		—			4,063
Impairment of assets		—		3,494		—			(3,494	)		—
Other costs and professional fees		83		828		(783	)		—			128
Total	$	11,985	$	19,995	$	(21,417	)	$	(5,315	)	$	5,248

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Component of Accrued Expenses and Other Current Liabilities (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Accrued Liabilities [Line Items]
Accrued Salaries, benefits, commissions, bonuses and payroll taxes	$ 40,466	$ 40,859	$ 41,460

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Income (Loss) in Equity Interests, Net (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]
Income (loss) in equity interests, net	$ (78)	$ 75	$ 58	$ (133)	$ (86)	$ (119)	$ (245)	$ (458)	$ (78)	$ (908)	$ (1,081)
Finland
Schedule of Equity Method Investments [Line Items]
Income (loss) in equity interests, net										343	573
Australia
Schedule of Equity Method Investments [Line Items]
Income (loss) in equity interests, net									(674)	(1,251)	(1,654)
Alma Career Oy | Eastern Europe and the Baltics
Schedule of Equity Method Investments [Line Items]
Income (loss) in equity interests, net									$ 596

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Segment and Geographic Data - Additional Information (Detail)	0 Months Ended	12 Months Ended
	Feb. 05, 2013 Segment	Dec. 31, 2014 Segment
Segment Reporting Information [Line Items]
Number of reportable segments	4	3

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Summary of Changes in Goodwill (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Goodwill [Line Items]
Acquisition activity		$ 25,061
Write-off in connection with deconsolidation of subsidiaries		(4,057)
Impairment	(325,800)	(325,800)		(262,650)
Translation and other adjustments, net		(50,101)
Goodwill	1,129,071	1,129,071	1,158,168
Accumulated impairment losses	(588,450)	(588,450)	(262,650)
Net goodwill	540,621	540,621	895,518
Careers North America
Goodwill [Line Items]
Acquisition activity		25,061
Impairment	(263,000)	(263,000)
Goodwill	623,175	623,175	598,114
Accumulated impairment losses	(263,000)	(263,000)
Net goodwill	360,175	360,175	598,114
Careers - International
Goodwill [Line Items]
Write-off in connection with deconsolidation of subsidiaries		(4,057)
Translation and other adjustments, net		(50,101)
Goodwill	354,306	354,306	408,464
Accumulated impairment losses	(262,650)	(262,650)	(262,650)
Net goodwill	91,656	91,656	145,814
Internet Advertising & Fees
Goodwill [Line Items]
Impairment	(62,800)	(62,800)
Goodwill	151,590	151,590	151,590
Accumulated impairment losses	(62,800)	(62,800)
Net goodwill	$ 88,790	$ 88,790	$ 151,590

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Long-term Debt, Net of Discounts (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Debt [Line Items]
Credit facilities	$ 87,750	$ 135,275
Unamortized discount on convertible senior notes	(20,116)
Long-term Debt, Total	211,384	135,275
Less: current portion of long-term debt	9,563	9,375
Long-term debt, net, less current portion	201,821	125,900
Long-term Debt	211,384	135,275
3.50% Convertible Senior Notes Due 2019
Debt [Line Items]
3.50% convertible senior notes due 2019	$ 143,750

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Reconciliation of Total Amount of Unrecognized Tax Benefits (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Contingency [Line Items]
Balance, beginning of period	$ 30,005	$ 40,075	$ 76,818
Gross increases: tax positions taken in prior periods		515	8,380
Gross decreases: tax positions taken in prior periods	(1,040)	(13,042)	(8,943)
Gross increases: tax positions taken in current year	2,911	2,457	3,114
Gross decreases: tax positions taken in current year	0	0	0
Gross decreases: settlement of tax examinations			(39,294)
Gross decreases: lapse of statute of limitation	(1,487)
Balance, end of period	$ 30,389	$ 30,005	$ 40,075

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Components of (Loss) Income before Income Taxes and Loss in Equity Interests (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Taxes [Line Items]
Domestic									$ (326,935)	$ 31,291	$ 11,833
Foreign									7,915	(3,870)	14,436
(Loss) income before income taxes and loss in equity interests	$ (333,616)	$ 1,508	$ 3,053	$ 10,035	$ 8,321	$ 12,773	$ 6,750	$ (423)	$ (319,020)	$ 27,421	$ 26,269

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Future Minimum Lease Commitments under Non-Cancelable Operating Leases and Minimum Rentals to be Received under Non-Cancelable Subleases (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Operating Leases
2015	$ 36,280
2016	31,004
2017	28,593
2018	24,776
2019	20,885
Thereafter	50,851
Operating Leases, Future Minimum Payments Due, Total	192,389
Sublease Income
2015	2,229
2016	3,557
2017	3,654
2018	3,654
2019	3,654
Thereafter	4,526
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals, Total	$ 21,274

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Long-Term Debt - Additional Information (Detail) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended			9 Months Ended	0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Oct. 31, 2014	Oct. 22, 2014	Feb. 05, 2015	Oct. 21, 2014
Debt Instrument [Line Items]
Repayments of term loan outstanding	$ 91,625	$ 6,875	$ 43,750
Carrying value of permanent equity component reported in additional paid-in-capital	18,766
Utilized portion of credit facility	87,750	135,275		87,750
Utilized portion of credit facility , due with in one year	9,563	9,375		9,563
Credit facility, available to be utilized	26,860			26,860
Minimum
Debt Instrument [Line Items]
Interest Charge Coverage Ratio					150.00%
Third Amended Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowings under senior unsecured revolving credit facility					190,000
Financing fees classified as a debt extinguishment				388
Amortization, deferred finance costs					2,766
Second Amended Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowings under senior unsecured revolving credit facility						325,000
BBA LIBOR Rate
Debt Instrument [Line Items]
Interest rate at the end of period	0.17%
Interest rate at the end of period, effective	3.16%			3.16%
Prime Rate
Debt Instrument [Line Items]
Interest rate at the end of period	3.25%
Federal Funds Rate
Debt Instrument [Line Items]
Interest rate at the end of period	0.06%
Revolving Credit Facility
Debt Instrument [Line Items]
Utilized portion of credit facility	0			0
Letter of Credit
Debt Instrument [Line Items]
Utilized portion of credit facility	303			303
First Quarter | Maximum
Debt Instrument [Line Items]
Consolidated Leverage Ratio					275.00%
Second Quarter
Debt Instrument [Line Items]
Consolidated Leverage Ratio					250.00%
Scenario, Forecast | Third Amended Restated Credit Agreement
Debt Instrument [Line Items]
Cost and restructuring charges to be included as a component of the Consolidated Leverage Ratio and the Consolidated Fixed Charge coverage ratio, maximum							20,000
Senior Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument maturity date					Oct. 31, 2017
Payments on borrowings on credit facilities					98,900
Senior Unsecured Revolving Credit Facility | Third Amended Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowings under senior unsecured revolving credit facility					100,000
Senior Unsecured Revolving Credit Facility | Second Amended Restated Credit Agreement
Debt Instrument [Line Items]
Debt instrument maturity date						Mar. 22, 2015
Maximum borrowings under senior unsecured revolving credit facility						225,000
Term Loan Facility | Third Amended Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowings under senior unsecured revolving credit facility					90,000
Term Loan Facility | Second Amended Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowings under senior unsecured revolving credit facility						100,000
Term Loan Facility | First Quarter
Debt Instrument [Line Items]
Amortization payments on outstanding principal amount of term loans, in 2015	2,250			2,250
Amortization payments on outstanding principal amount of term loans, in 2016	2,813			2,813
Amortization payments on outstanding principal amount of term loans, in 2017	3,375			3,375
Term Loan Facility | Second Quarter
Debt Instrument [Line Items]
Amortization payments on outstanding principal amount of term loans, in 2015	2,250			2,250
Amortization payments on outstanding principal amount of term loans, in 2016	2,813			2,813
Amortization payments on outstanding principal amount of term loans, in 2017	3,375			3,375
Term Loan Facility | Third Quarter
Debt Instrument [Line Items]
Amortization payments on outstanding principal amount of term loans, in 2015	2,250			2,250
Amortization payments on outstanding principal amount of term loans, in 2016	2,813			2,813
Amortization payments on outstanding principal amount of term loans, in 2017	3,375			3,375
Term Loan Facility | Fourth Quarter
Debt Instrument [Line Items]
Amortization payments on outstanding principal amount of term loans, in 2015	2,813			2,813
Amortization payments on outstanding principal amount of term loans, in 2016	3,375			3,375
3.50% Convertible Senior Notes Due 2019
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount						143,750
Debt instrument, option granted to initial purchasers and exercised, aggregate principal amount								18,750
Debt instrument, interest rate	3.50%			3.50%		3.50%
Net proceeds from sale of notes						139,031
Fees and expenses						4,719
Debt instrument maturity date	Oct. 15, 2019					Oct. 15, 2019
Payments for capped call transactions	16,531
Repayments of term loan outstanding	82,500
Repayments of borrowings under revolving credit facility	40,000
Debt instrument, conversion rate per one thousand dollar principal amount of the Notes	187,740.5
Debt instrument, conversion price per share	$ 5.33			$ 5.33		$ 5.33
Convertible notes, shares convertible	27,000,000			27,000,000
Debt instrument, consecutive threshold trading days	30 days
Debt instrument, threshold trading days	20
Debt instrument, conversion price trigger						100.00%
Debt instrument, measurement period description	Five business day period after any five consecutive trading day period
Convertible notes maturity date						At any time on or after January 15, 2019 until the close of business on the second scheduled trading day immediately preceding the October 15, 2019 maturity date.
Debt instrument fair value						122,829
Carrying value of permanent equity component reported in additional paid-in-capital						20,228
3.50% Convertible Senior Notes Due 2019 | Minimum
Debt Instrument [Line Items]
Debt instrument, convertible, threshold percentage of outstanding shares of common stock that require stockholder approval	19.99%
Debt instrument, conversion price trigger	130.00%
3.50% Convertible Senior Notes Due 2019 | Maximum
Debt Instrument [Line Items]
Debt instrument, conversion price trigger	98.00%
3.50% Convertible Senior Notes Due 2019 | Equity Component
Debt Instrument [Line Items]
Fees and expenses						$ 693
3.50% Convertible Senior Notes Due 2019 | Call Option
Debt Instrument [Line Items]
Debt instrument, initial cap price under capped call transaction						$ 7.035

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Deconsolidation of Subsidiaries - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Jan. 03, 2014
Effects of Deconsolidation of Subsidiaries [Line Items]
Gain on deconsolidation		$ 13,647
Net assets of entities contributed to Alma Career Oy		4,200
Retained noncontrolling investment at fair value		24,800
Accumulated unrealized currency translation loss related to the net assets of the subsidiaries		(1,819)	23,109
Net gain on deconsolidation	11,828	11,828
Finland
Effects of Deconsolidation of Subsidiaries [Line Items]
Percentage of equity investment				25.00%
Finland | Alma Media Corporation
Effects of Deconsolidation of Subsidiaries [Line Items]
Percentage of equity investment				75.00%
Eastern Europe and the Baltics | Alma Career Oy
Effects of Deconsolidation of Subsidiaries [Line Items]
Percentage of equity investment		15.00%
Maximum percentage of equity investment		20.00%
Additional investments in equity method investee		$ 6,500

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SEGMENT AND GEOGRAPHIC DATA

12 Months Ended

Dec. 31, 2014

SEGMENT AND GEOGRAPHIC DATA

19. SEGMENT AND GEOGRAPHIC DATA

The Company conducts business in three reportable segments: Careers-North America, Careers-International, and Internet Advertising & Fees. Corporate operating expenses are not allocated to the Company’s reportable segments. The operating results for the Careers-China business and the exited business operations which have previously been included in the Careers-International segment in the Company’s consolidated financial statements have now been reclassified as discontinued operations for all periods presented. Please see Note 7 – Discontinued Operations.

The following tables present the Company’s operations, excluding discontinued operations, by reportable segment and by geographic region:

	The year ended December 31,
	2014			2013			2012
Revenue
Careers – North America	$	436,946		$	446,274		$	462,962
Careers – International		269,064			288,623			351,130
Internet Advertising & Fees		64,003			72,682			76,300
Revenue	$	770,013		$	807,579		$	890,392
Operating (Loss) Income
Careers – North America	$	(198,294	)	$	65,009		$	42,686
Careers – International		(25,129	)		(18,596	)		13,076
Internet Advertising & Fees		(48,624	)		24,492			17,721
		(272,047	)		70,905			73,483
Corporate expenses		(50,249	)		(37,714	)		(41,331	)
Operating (Loss) Income	$	(322,296	)	$	33,191		$	32,152
Depreciation and Amortization
Careers – North America	$	24,381		$	31,204		$	35,446
Careers – International		19,174			22,874			22,181
Internet Advertising & Fees		3,589			4,354			5,943
		47,144			58,432			63,570
Corporate expenses		1,499			724			709
Depreciation and Amortization	$	48,643		$	59,156		$	64,279
Restructuring and Other Special Charges
Careers – North America	$	—		$	9,537		$	20,970
Careers – International		—			7,866			15,990
Internet Advertising & Fees		—			341			2,123
Corporate expenses		—			2,251			1,275
Restructuring and Other Special Charges	$	—		$	19,995		$	40,358
Goodwill Impairment
Careers – North America	$	263,000		$	—		$	—
Careers – International		—			—			—
Internet Advertising & Fees		62,800			—			—
Corporate expenses		—			—			—
Goodwill Impairment	$	325,800		$	—		$	—
Revenue by Geographic Region(a)
United States	$	484,252		$	500,746		$	517,268
International		285,761			306,833			373,124
Revenue	$	770,013		$	807,579		$	890,392
Long-lived Assets by Geographic Region(b)
United States	$	89,343		$	88,284		$	103,112
International		30,386			35,885			44,501
Total Long-Lived Assets	$	119,729		$	124,169		$	147,613

(a) Revenue by geographic region is generally based on the location of the Company’s subsidiary.

(b) Total long-lived assets includes property and equipment, net.

Due to the nature of the Company’s operations, a majority of its assets are utilized across all segments. In addition, segment assets are not reported to, or used by, the Chief Operating Decision Maker to allocate resources or assess performance of the Company’s segments. Accordingly, the Company has not disclosed asset information by segment.

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Recognition of Pre-Tax Compensation Expense (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized pre-tax compensation expense	$ 35,357	$ 25,391	$ 28,174
Restricted Stock Awards and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized pre-tax compensation expense	35,357	25,391	28,123
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized pre-tax compensation expense			$ 51

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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

Components of (Loss ) Income before Income Taxes and Loss in Equity Interests

The components of (loss) income before income taxes and loss in equity interests are as follows:

	Year Ended December 31,
	2014			2013			2012
Domestic	$	(326,935	)	$	31,291		$	11,833
Foreign		7,915			(3,870	)		14,436
(Loss) income before income taxes and loss in equity interests	$	(319,020	)	$	27,421		$	26,269

Income Taxes Relating to Operations

Income taxes relating to the Company’s operations are as follows:

	Years Ended December 31,
	2014			2013			2012
Current income taxes:
U.S. Federal	$	2,018		$	2,814		$	(40,306	)
State and local		(692	)		(1,357	)		(1,668	)
Foreign		6,801			(7,027	)		18,810
Total current income taxes		8,127			(5,570	)		(23,164	)
Deferred income taxes:
U.S. Federal		(35,661	)		24,513			(2,495	)
State and local		(9,622	)		5,766			(2,975	)
Foreign		1,865			(1,705	)		(4,344	)
Total deferred income taxes		(43,418	)		28,574			(9,814	)
(Benefit from) provision for income taxes	$	(35,291	)	$	23,004		$	(32,978	)

Tax Effects of Temporary Differences that Give Rise to Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to the Company’s deferred tax assets and liabilities are as follows:

	December 31,
	2014			2013
Deferred tax assets:
Allowance for doubtful accounts	$	941		$	1,310
Accrued expenses and other liabilities		9,731			6,038
Tax loss carry-forwards		71,916			67,892
Tax credits		55,312			48,843
Non-cash stock based compensation expense		6,552			4,379
Valuation allowance		(69,807	)		(48,906	)
Deferred tax assets		74,645			79,556
Deferred tax liabilities:
Foreign investments		(12,166	)		(9,606	)
Property and equipment		(25,018	)		(24,956	)
Goodwill and intangibles		(11,199	)		(60,941	)
Deferred tax liabilities		(48,383	)		(95,503	)
Net deferred tax assets (liabilities)	$	26,262		$	(15,947	)

Income Taxes Related to the Company's (Loss) Income before Income Taxes and Loss in Equity Interests Differ from Amount Computed Using Federal Statutory Income Tax Rate

Income taxes related to the Company’s (loss) income before income taxes and loss in equity interests differ from the amount computed using the Federal statutory income tax rate as follows:

	Year Ended December 31,
	2014			2013			2012
Income taxes at Federal statutory rate	$	(111,655	)	$	9,598		$	9,195
State income taxes, net of Federal income tax effect		(13,767	)		1,152			217
Foreign tax rate differences		308			3,510			1,655
Change in valuation allowance		20,901			749			9,370
Reversals of accrued income tax		(1,143	)		(12,391	)		(28,814	)
Interest expense on tax liabilities, net of reversals		710			(189	)		(3,517	)
Earnings not indefinitely reinvested		—			676			1,303
Non-deductible compensation and other expenses		952			1,506			1,095
Effect of foreign partnerships and joint venture		4,090			—			—
Tax effect of restructuring items		—			—			(21,754	)
Effect of intercompany loans		392			250			(1,728	)
Non-deductible goodwill impairment		65,938
Research and experimentation tax credit		(2,017	)
Sale of noncontrolling interest		—			18,143			—
(Benefit from) provision for income taxes	$	(35,291	)	$	23,004		$	(32,978	)

Reconciliation of Total Amount of Unrecognized Tax Benefits

A reconciliation of the total amount of unrecognized tax benefits is as follows:

	2014			2013			2012
Balance, beginning of period	$	30,005		$	40,075		$	76,818
Gross increases: tax positions taken in prior periods		—			515			8,380
Gross decreases: tax positions taken in prior periods		(1,040	)		(13,042	)		(8,943	)
Gross increases: tax positions taken in current year		2,911			2,457			3,114
Gross decreases: tax positions taken in current year		—			—			—
Gross decreases: settlement of tax examinations		—			—			(39,294	)
Gross decreases: lapse of statute of limitation		(1,487	)		—			—
Balance, end of period	$	30,389		$	30,005		$	40,075

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Amounts of Unrealized and Realized Net Gains and Changes in Fair Value of Derivative Positions (Detail) (Foreign currency exchange forwards, USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Derivative [Line Items]
Amount of Realized Net Gains (Losses) and Changes in the Fair Value of Forward Contracts	$ 48	$ 804	$ 2,060
Interest and Other, net
Derivative [Line Items]
Amount of Realized Net Gains (Losses) and Changes in the Fair Value of Forward Contracts	48	644	2,060
Discontinued Operations
Derivative [Line Items]
Amount of Realized Net Gains (Losses) and Changes in the Fair Value of Forward Contracts		$ 160

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CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

12 Months Ended

Dec. 31, 2014

Changes in Accumulated Other Comprehensive Income

The amounts recognized in accumulated other comprehensive income were as follows:

	Foreign Currency Translation Adjustments
	Year ended December 31,
	2014			2013
Beginning balance	$	63,368		$	87,162
Other comprehensive loss before reclassifications		(55,942	)		(685	)
Amounts reclassified from accumulated other comprehensive income		1,819			(23,109	)
Net current period change in accumulated other comprehensive income		(54,123	)		(23,794	)
Ending balance	$	9,245		$	63,368

Reclassifications Out of Accumulated Other Comprehensive Income

Amounts reclassified from accumulated other comprehensive income to income were as follows:

	Affected Line Item in the Statement Where Net Income Is Presented	Year ended December 31,
Details about AOCI Components		2014		2013
Foreign currency translation adjustments
Deconsolidation of foreign subsidiaries	Gain on deconsolidation of subsidiaries, net	$	1,819	$	—
Sale of foreign entity	Loss from discontinued operations, net of tax		—		(23,109	)
Total reclassifications		$	1,819	$	(23,109	)

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Non-Vested Stock Activity (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Shares
Non-vested at beginning of period	13,142,000	7,639,000	7,432,000
Forfeited	(472,000)	(1,386,000)	(1,102,000)
Vested	(4,733,000)	(3,018,000)	(3,077,000)
Non-vested at end of period	8,554,000	13,142,000	7,639,000
Weighted Average Fair Value at Grant Date
Non-vested at beginning of period	$ 5.58	$ 10.01	$ 13.85
Forfeited	$ 5.41	$ 10.93	$ 12.14
Vested	$ 7.11	$ 5.10	$ 14.07
Non-vested at end of period	$ 4.85	$ 5.58	$ 10.01
Restricted Stock Awards (RSAs)
Shares
Granted		1,213,000	3,156,000
Weighted Average Fair Value at Grant Date
Granted		$ 4.72	$ 6.88
Restricted Stock Units (RSUs)
Shares
Granted	617,000	8,694,000	1,230,000
Weighted Average Fair Value at Grant Date
Granted	$ 5.58	$ 4.15	$ 6.89

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Changes in Fair Value of Level 3 Liabilities (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Balance, Beginning of Period	$ 12,550	$ 14,233
Expense	7,208	6,225
Cash Payments and changes in fair value	(11,243)	(7,908)
Balance, End of Period	$ 8,515	$ 12,550

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Restructuring and Other Special Charges and Related Liability Balances (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		12 Months Ended
	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Restructuring Cost and Reserve [Line Items]
Expense	$ 6,828	$ 13,167		$ 19,995	$ 40,358
Restructuring November 2012 Plan
Restructuring Cost and Reserve [Line Items]
Accrual, Beginning Balance		11,985	5,248	11,985
Expense				19,995
Cash Payments			(2,307)	(21,417)
Non-Cash Utilization				(5,315)
Accrual, Ending Balance			2,941	5,248
Restructuring November 2012 Plan | Workforce reduction
Restructuring Cost and Reserve [Line Items]
Accrual, Beginning Balance		11,902	1,057	11,902
Expense				9,645
Cash Payments			(648)	(18,669)
Non-Cash Utilization				(1,821)
Accrual, Ending Balance			409	1,057
Restructuring November 2012 Plan | Consolidation of office facilities
Restructuring Cost and Reserve [Line Items]
Accrual, Beginning Balance			4,063
Expense				6,028
Cash Payments			(1,535)	(1,965)
Accrual, Ending Balance			2,528	4,063
Restructuring November 2012 Plan | Impairment of Assets
Restructuring Cost and Reserve [Line Items]
Expense				3,494
Non-Cash Utilization				(3,494)
Restructuring November 2012 Plan | Other costs and professional fees
Restructuring Cost and Reserve [Line Items]
Accrual, Beginning Balance		83	128	83
Expense				828
Cash Payments			(124)	(783)
Accrual, Ending Balance			$ 4	$ 128

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Activity in Allowance for Doubtful Accounts (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	$ 3,995	$ 4,721	$ 5,240
Charged to Expense	1,707	2,367	4,469
Write-Offs and Other	(2,407)	(3,093)	(4,988)
Ending Balance	$ 3,295	$ 3,995	$ 4,721

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NONCONTROLLING INTEREST

12 Months Ended

Dec. 31, 2014

NONCONTROLLING INTEREST

3. NONCONTROLLING INTEREST

In December 2013, the Company sold a 49.99% interest in JobKorea Ltd. (“JobKorea”), its wholly owned subsidiary in South Korea, to H&Q Korea for an aggregate purchase price of $90,000. H&Q Korea, an affiliate of H&Q Asia Pacific, is a pioneer in the development of Korea’s private equity industry and one of the top private equity managers in the country. Based on the terms of the agreement, Monster maintains a controlling interest in the subsidiary and, accordingly, will continue to consolidate the results of JobKorea in its consolidated financial statements.

The Company incurred transaction costs of approximately $3,500 related to the agreement with H&Q Korea, which were recorded within stockholders’ equity on the Company’s consolidated balance sheets. See Note 17 – Income Taxes for discussion on the tax impact of the transaction. The noncontrolling interest’s share of stockholders’ equity in JobKorea Ltd. is reflected as Noncontrolling interest in the Company’s consolidated balance sheets and was $54,247 as of December 31, 2014. The noncontrolling interest’s share of income from continuing operations and net loss was $5,482 and $193 for the years ended December 31, 2014 and December 31, 2013, respectively.

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Discontinued Operations - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014 Employee	Dec. 31, 2013	Dec. 31, 2012	Feb. 05, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income tax benefit related to discontinued operations		$ 0	$ (6,407)	$ 1,624
Goodwill impairment charge	325,800	325,800		262,650
Valuation allowances related to deferred tax assets	69,807	69,807	48,906
Reduction in number of employees		1,000
Discontinued operations, liabilities	268	268	1,049
Careers - China
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Minority interest owned	10.00%	10.00%
Accumulated unrealized currency translation gain					23,109
Received funds previously held in escrow, recorded as a gain			1,846
Income tax benefit related to discontinued operations			4,916
Gain (loss) from discontinued operations, net of tax			1,724
Goodwill impairment charge				100.00%
Goodwill impairment charge				262,650
Valuation allowances related to deferred tax assets	9,710	9,710
Impairment related to amortizable intangibles		5,205
Latin America and Turkey
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income tax benefit related to discontinued operations			1,491
Gain (loss) from discontinued operations, net of tax			(2,074)
Costs associated with the shutdown of discontinued operation				8,000
Severance costs related to discontinued operation			$ 3,565

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COMMITMENTS (Tables)

12 Months Ended

Dec. 31, 2014

Future Minimum Lease Commitments under Non-Cancelable Operating Leases and Minimum Rentals to be Received under Non-Cancelable Subleases

The following table presents future minimum lease commitments under non-cancelable operating leases and minimum rentals to be received under non-cancelable subleases at December 31, 2014:

	Operating Leases		Estimated Sublease Income
2015	$	36,280	$	2,229
2016		31,004		3,557
2017		28,593		3,654
2018		24,776		3,654
2019		20,885		3,654
Thereafter		50,851		4,526
	$	192,389	$	21,274

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BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2014

Basis of Presentation

Basis of Presentation

The consolidated financial statements include the accounts of the Company and all of its wholly-owned and majority-owned subsidiaries. Investments in which the Company does not have a controlling interest or is not the primary beneficiary, but has the ability to exert significant influence, are accounted for under the equity method of accounting. All inter-company accounts and transactions have been eliminated in consolidation. The noncontrolling interest in our South Korean subsidiary is recorded net of tax as Net income attributable to noncontrolling interest. We have reclassified certain amounts previously reported in our financial statements to conform to the current presentation, including amounts related to discontinued operations. Unless noted otherwise, discussions in these notes pertain to our continuing operations.

Use of Estimates

Use of Estimates

The preparation of the accompanying consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the reported amounts of assets and liabilities and revenues and expenses. These estimates include, among others, allowances for doubtful accounts, fair value of financial assets and liabilities, net realizable values on long-lived assets and deferred tax assets and liabilities, certain accrued expense accounts, deferred revenue, goodwill, revenue recognition and forfeitures associated with stock-based compensation. Actual results could differ from those estimates.

Revenue Recognition

Revenue Recognition

The Company recognizes revenue on agreements in accordance with Accounting Standards Codification (“ASC”) ASC 605, Revenue Recognition .

Careers-North America and Careers-International. Our Careers-North America and Careers-International segments primarily earn revenue from the placement of job postings on the websites within the Monster network, access to the Monster network’s online resume and social profile databases, recruitment media services, applicant tracking services, online career-related solutions provided through a “Software as a Service” (“SaaS”) offering and other career-related services.

Where appropriate, we recognize revenue in accordance with Accounting Standards Update (“ASU”) No. 2009-13, Multiple-Deliverable Revenue Arrangements, which was effective January 1, 2011. The Company’s revenue associated with multiple element contracts is based on the selling price hierarchy, which utilizes vendor-specific objective evidence or (“VSOE”) when available, third-party evidence (“TPE”) if VSOE is not available, and if neither is available, then the best estimate of selling price is used. The Company utilizes VSOE in the majority of its multiple deliverable transactions. Under this accounting guidance, to treat elements in a multi-element arrangement as separate units of accounting, each element must have standalone value upon delivery. If the element has standalone value, the Company accounts for each element separately. In determining whether elements have standalone value, the Company considers the availability of the elements from other vendors, the nature of the elements, the timing of execution of contracts for customers and the contractual dependence of the element related to a customer’s acceptance.

We recognize revenue at the time that job postings and related accessories are displayed on the Monster network websites, based upon customer usage patterns. Revenue earned from subscriptions to the Monster network’s resume and social profile databases, applicant tracking services and other career-related services are recognized over the length of the underlying subscriptions, typically from two weeks to twelve months. The Company accounts for SaaS contracts as the services are being performed.

Unearned revenues are reported on the balance sheet as deferred revenue. We review accounts receivable for those that may potentially be uncollectible and any accounts receivable balances that are determined to be uncollectible are included in our allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance.

Internet Advertising & Fees. Our Internet Advertising & Fees segment primarily earns revenue from the display of advertisements on the Monster network of websites, “click-throughs” on text based links, leads provided to advertisers and subscriptions to premium services. We recognize revenue for online advertising as “impressions” are delivered. An “impression” is delivered when an advertisement appears in pages viewed by our users. We recognize revenue from the display of click-throughs on text based links as click-throughs occur. A click-through occurs when a user clicks on an advertiser’s listing. Revenue from lead generation is recognized as leads are delivered to advertisers.

Business Combinations

Business Combinations

We account for business combinations in accordance with ASC 805, Business Combinations. The acquisition method of accounting requires that assets acquired and liabilities assumed be recorded at their fair values on the date of a business combination. Our consolidated financial statements and results of operations reflect an acquired business from the completion date of an acquisition. See Note 4 – Business Combinations.

Discontinued Operations

Discontinued Operations

The Company accounts for business dispositions and its businesses held for sale in accordance with ASC 205-20, Discontinued Operations. ASC 205-20 requires the results of operations of business dispositions to be segregated from continuing operations and reflected as discontinued operations in current and prior periods. See Note 7 – Discontinued Operations.

Marketing and Promotion

Marketing and Promotion

Advertising production costs are recorded as expense the first time an advertisement appears. Costs of communicating advertising are recorded as expense as advertising space or airtime is used. All other advertising costs are expensed as incurred.

Concentrations of Risk

Concentrations of Risk

Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents and accounts receivable. Cash and cash equivalents are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally these deposits may be redeemed upon demand. The Company performs continuing credit evaluations of its customers, maintains allowances for potential credit losses and does not require collateral. The Company makes judgments as to its ability to collect outstanding receivables based primarily on management’s evaluation of the customer’s financial condition, past collection history and overall aging of the receivables. Historically, such losses have been within management’s expectations. The Company has not experienced significant losses related to receivables from individual customers or groups of customers in any particular industry or geographic area.

Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents, which primarily consist of bank time deposits, are stated at cost, which approximates fair value. For financial statement presentation purposes, the Company considers all highly liquid investments having original maturities of three months or less to be cash equivalents. Outstanding checks in excess of account balances, typically payroll and other contractual obligations disbursed on or near the last day of a reporting period, are reported as current liabilities in the accompanying consolidated balance sheets.

Accounts Receivable

Accounts Receivable

The Company’s accounts receivable primarily consist of trade receivables. Management reviews accounts receivable on a monthly basis to determine if any receivables will potentially be uncollectible. The Company includes any accounts receivable balances that are determined to be uncollectible in its allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available, the Company believes its allowance for doubtful accounts as of December 31, 2014 and 2013 are adequate. However, actual write-offs could exceed the recorded allowance. Including discontinued operations, the activity in the allowance for doubtful accounts is as follows:

Year Ended December 31,	Beginning Balance		Charged to Expense		Write-Offs and Other			Ending Balance
2014	$	3,995	$	1,707	$	(2,407	)	$	3,295
2013	$	4,721	$	2,367	$	(3,093	)	$	3,995
2012	$	5,240	$	4,469	$	(4,988	)	$	4,721

Included in the December 31, 2012 ending balance of $4,721 is $796 of allowance for doubtful accounts attributable to discontinued operations. There are no such amounts included in the December 31, 2014 and December 31, 2013 balances.

Property and Equipment

Property and Equipment

Computer and communications equipment, furniture and equipment and capitalized software costs are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, generally three to ten years. Leasehold improvements are stated at cost and amortized using the straight-line method, over their estimated useful lives, or the lease term, whichever is shorter.

Internal Use Software and Website Development Costs

Internal Use Software and Website Development Costs

In accordance with ASC 350-40, Internal-Use Software, the Company capitalizes costs to purchase or internally develop software for internal use, as well as costs incurred to design, develop, test and implement enhancements to its website. These costs are included in property and equipment with an estimated useful life of five years.

Patent Defense Costs

Patent Defense Costs

The Company capitalizes legal costs incurred in the defense of the Company’s patents when it is believed that the future economic benefit of the patent will be maintained or increased and a successful defense is probable. Capitalized patent defense costs are amortized over the remaining expected life of the related patent. The Company’s assessment of future economic benefit or a successful defense of its patents involves considerable management judgment, and a different conclusion or outcome of litigation could result in a material impairment charge up to the carrying value of these assets. During the year ended December 31, 2014, the Company capitalized $4,539 of legal fees associated with the defense of its patents.

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The Company evaluates its goodwill and indefinite lived intangible assets for impairment in accordance with ASC 350, Intangibles – Goodwill and Other. Goodwill is recorded when the purchase price paid for an acquisition exceeds the estimated fair value of the net identified tangible and intangible assets acquired.

The Company tests the recorded amount of goodwill for recovery on an annual basis in the fourth quarter of each fiscal year. Goodwill is tested more frequently if indicators of impairment exist. The goodwill impairment test is performed at the reporting unit level. The Company has three reporting units which are equivalent to our three operating segments: Careers-North America, Careers-International, and Internet Advertising & Fees.

In determining if goodwill is impaired, we estimate the fair value of the reporting unit and compare it to the carrying value of the assets and liabilities of that reporting unit. The Company determines the fair value of its reporting units using a weighting of fair values derived from the income approach and the market approach, depending on the availability of relevant market comparable information. Under the income approach, the Company calculates the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management’s estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used is based on the weighted-average cost of capital adjusted for the relevant risk associated with business-specific characteristics and the uncertainty related to the business’s ability to execute on the projected cash flows. Under the market approach, the Company estimates the fair value based on market multiples of cash flow and earnings derived from comparable publicly-traded companies with similar operating and investment characteristics as the reporting unit and considering a reasonable control premium. The weighting of the fair value derived from the market approach differs for each reporting unit depending on the level of comparability of these publicly-traded companies to the reporting unit. Due to the inherent uncertainty involved in making these estimates, actual results could differ from those estimates.

As a corroborative source of information, the Company reconciles the estimated aggregate fair values of its reporting units to within a reasonable range of its market capitalization, which includes an assumed control premium (an adjustment reflecting an estimated fair value on a control basis) to verify the reasonableness of the fair value of its reporting units obtained through the aforementioned methods. The control premium is estimated based upon control premiums observed in comparable market transactions. As none of our reporting units are publicly-traded, individual reporting unit fair value determinations do not directly correlate to the Company’s stock price.

Primarily as a result of the decline in the Company’s market capitalization, management believed that there were circumstances evident which indicated that the fair value of our reporting units could be below their carrying amounts. Although the Company’s management strongly believes that the Company’s current market capitalization undervalues the aggregate fair values of our individual reporting units, we concluded that we must heavily consider the market capitalization levels when performing the 2014 annual goodwill impairment test. As such, higher discount rates were applied to forecasted cash flows. As a result of the test, it was determined that the carrying value of the Careers-North America and Internet Advertising & Fees reporting units exceeded their fair values, and the Company recorded a pre-tax goodwill impairment charge of $325,800 during the fourth quarter of 2014 ($263,000 in Careers-North America and $62,800 in Internet Advertising & Fees). On a net of tax basis, the charge was $263,047 after recognizing a tax benefit of $62,753. See Note 5 – Goodwill and Intangible Assets for additional details.

Other intangible assets primarily consist of the value of customer relationships, trade names, resume databases, trademarks and internet domains. Amortizable intangible assets are primarily being amortized on a basis that approximates economic use, over periods ranging from two to ten years.

Indefinite-lived intangible assets are primarily evaluated on an annual basis, generally in conjunction with the Company’s evaluation of goodwill balances. In assessing fair value, we generally utilize a relief from royalty method. If the carrying value of the indefinite-lived intangible assets exceeds the fair value of the asset, the carrying value is written down to fair value in the period identified. The Company recorded an impairment charge of $1,000 on an indefinite-lived intangible asset in the fourth quarter of 2014.

Long-Lived Assets

Long-Lived Assets

Long-lived assets, other than goodwill and indefinite lived intangible assets, are evaluated for impairment when events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of these assets and their eventual disposition are less than their carrying amounts. As a result of the decline in our market capitalization, the Company assessed long-lived assets for impairment in the fourth quarter of 2014. It was concluded that the Company’s long-lived assets were not impaired as of December 31, 2014.

Foreign Currency Translation and Transactions

Foreign Currency Translation and Transactions

The financial position and results of operations of the Company’s foreign subsidiaries are determined using local currency as the functional currency. Assets and liabilities of these subsidiaries are translated at the exchange rate in effect at each year-end. Income statement accounts are translated at the average rate of exchange prevailing during the year. Translation adjustments arising from the use of differing exchange rates from period to period are included in accumulated other comprehensive income, a component of stockholders’ equity. Gains and losses resulting from other foreign currency transactions, including forward foreign exchange contracts, are included in interest and other, net.

Comprehensive income (loss) is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. The Company’s items of other comprehensive income (loss) are foreign currency translation adjustments, which relate to investments that are permanent in nature, net of applicable income taxes. To the extent that such amounts relate to investments that are permanent in nature, no adjustments for income taxes are made.

The Company uses forward foreign exchange contracts as economic cash flow hedges to offset risks related to foreign currency transactions. These transactions primarily relate to non-functional currency denominated inter-company funding loans and non-functional currency inter-company accounts receivable. The Company does not trade derivative financial instruments for speculative purposes. See Note 13 – Financial Derivative Instruments.

Income Taxes

Income Taxes

We utilize the liability method of accounting for income taxes as set forth in ASC 740, Income Taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized. In evaluating our ability to recover our deferred tax assets within the jurisdictions from which they arise, we consider all available positive and negative evidence, including scheduled reversals of taxable temporary items, projected future taxable income, tax planning strategies and recent financial operations.

Assumptions used in making this evaluation require significant judgment and are consistent with the plans and estimates we are using to manage the underlying business. When we determine that we are not able to realize our recorded deferred tax assets, an increase in the valuation allowance is recorded, decreasing earnings in the period in which such determination is made.

We assess our income tax positions and record tax benefits for all years subject to examination based upon our evaluation of the facts, circumstances and information available at the reporting date. For those tax positions where there is greater than 50% likelihood that a tax benefit will be sustained, we have recorded the largest amount of tax benefit that may potentially be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where there is a 50% or less likelihood that a tax benefit will be sustained, no tax benefit has been recognized in the financial statements.

Stock-Based Compensation

Stock-Based Compensation

We award stock options, non-vested stock, market-based non-vested stock and performance-based non-vested stock to employees, directors and executive officers. We account for stock-based compensation in accordance with ASC 718, Stock Compensation. In accordance with ASC 718, we use the fair-market value of the Company’s common stock on the date the award is approved to measure fair value for service-based and performance-based awards, a Monte Carlo simulation model to determine both the fair value and requisite service period of market-based awards and the Black-Scholes option-pricing model to determine the fair value of stock option awards. Compensation expense for stock option awards and service-based awards is recognized ratably over the requisite service period. For market-based awards, compensation expense is recognized over the requisite service period as derived using a Monte Carlo simulation model. If an award includes both a market and performance or service condition, the requisite service period is adjusted in the event the market condition is satisfied prior to the end of the derived service period. For performance-based awards, compensation expense is recognized based on the probability of achieving the performance conditions associated with the respective shares, as determined by management.

Restructuring and Other Special Charges

Restructuring and Other Special Charges

The Company accounts for restructuring activities in accordance with ASC 420, Exit or Disposal Cost Obligations. Under the guidance, for the cost of restructuring activities that do not constitute a discontinued operation, the liability for the current and fair value of expected future costs associated with such restructuring activity shall be recognized in the period in which the liability is incurred. We segregate the costs of restructuring activities taken pursuant to a management approved restructuring plan.

Operating Lease Obligations

Operating Lease Obligations

We recognize a liability for costs to terminate an operating lease obligation before the end of its term when we no longer derive economic benefit from the lease. The liability is recognized and measured at its fair value when we determine that the cease use date has occurred and the fair value of the liability is determined based on the remaining lease rentals due, reduced by estimated sublease rental income that could be reasonably obtained for the property. The estimate of subsequent sublease rental income may change and require future changes to the fair value of the liabilities for the lease obligations.

(Loss) Earnings Per Share Attributable to Monster Worldwide, Inc.

(Loss) Earnings Per Share Attributable to Monster Worldwide, Inc.

Basic (loss) earnings per share is calculated using the Company’s weighted-average outstanding common shares. When the effects are dilutive, diluted (loss) earnings per share is calculated using the weighted-average outstanding common shares, participating securities and the dilutive effect of all other stock-based compensation awards as determined under the treasury stock method. Certain stock options and stock issuable under employee compensation plans were excluded from the computation of diluted (loss) earnings per share due to their anti-dilutive effect. A reconciliation of shares used in calculating basic and diluted (loss) earnings per share is as follows:

	The year ended December 31,
	2014		2013		2012
Basic weighted-average shares outstanding		88,045		106,947		112,866
Effect of common stock equivalents – stock options and non-vested stock under employee compensation plans(1)		—		966		1,129
Diluted weighted-average shares outstanding(1)		88,045		107,913		113,995
Weighted-average anti-dilutive common stock equivalents(1)		6,937		5,337		7,167

(1) For periods in which losses are presented, dilutive earnings per share calculations do not differ from basic earnings per share because the effects of any potential common stock equivalents are anti-dilutive and therefore not included in the calculation of dilutive earnings per share. For the year ended December 31, 2014, those potential shares totaled 3,046 which are included in the weighted average anti-dilutive common stock equivalents above, in addition to 3,891 of out of the money anti-dilutive common stock equivalents for the year ended December 31, 2014.

On October 22, 2014, the Company consummated an offering of its 3.50% convertible senior notes due 2019 (the “Notes”). Under the treasury stock method, the Notes will generally have a dilutive impact on earnings per share if the Company’s average stock price for the period exceeds approximately $5.33 per share of Monster’s common stock, the conversion price of the Notes. For the period from the consummation of the offering of the Notes through December 31, 2014, the conversion feature of the Notes was anti-dilutive.

In connection with the pricing of the Notes, Monster entered into a capped call transaction which increases the effective conversion price of the Notes, and is designed to reduce potential dilution upon conversion of the Notes. Since the beneficial impact of the capped call is anti-dilutive, it is excluded from the calculation of earnings per share. See Note 14 – Long-Term Debt for additional details.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, which amends the guidance in Accounting Standard Codification (“ASC”) 205, Presentation of Financial Statements as it relates to reporting discontinued operations. The revised guidance raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the revised definition of a discontinued operation. This amended guidance is to be applied prospectively and is effective for reporting periods (interim and annual) beginning after December 15, 2014, for public companies, with early adoption permitted. The implementation of the amended accounting guidance is not expected to have a material impact on our consolidated financial position or results of operations.

In May 2014, the FASB issued ASU No. 2014-09, which supersedes the revenue recognition guidance in ASC 605, Revenue Recognition. The new guidance clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. GAAP and International Financial Reporting Standards. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes the most current revenue recognition guidance. This amended guidance is effective retrospectively for reporting periods (interim and annual) beginning after December 15, 2016. We are currently assessing the potential impact of this ASU on our consolidated financial position and results of operations.

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Quarterly Financial Information

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information

MONSTER WORLDWIDE, INC.

FINANCIAL INFORMATION BY QUARTER (UNAUDITED)

(In thousands, except per share amounts)

	2014
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Revenue	$	198,149		$	194,441		$	191,220		$	186,203		$	770,013
Salaries and related		101,999			103,220			100,587			107,337			413,143
Office and general		55,207			49,131			52,186			50,450			206,974
Marketing and promotion		41,413			37,377			35,109			32,493			146,392
Goodwill impairment		—			—			—			325,800			325,800
Total operating expenses		198,619			189,728			187,882			516,080			1,092,309
Operating (loss) income		(470	)		4,713			3,338			(329,877	)		(322,296	)
Gain on deconsolidation of subsidiaries, net		11,828			—			—			—			11,828
Interest and other, net		(1,323	)		(1,660	)		(1,830	)		(3,739	)		(8,552	)
Income (loss) before income taxes and (loss) income in equity interests		10,035			3,053			1,508			(333,616	)		(319,020	)
Provision for (benefit from) income taxes		6,663			1,615			1,934			(45,503	)		(35,291	)
(Loss) income in equity interests, net		(133	)		58			75			(78	)		(78	)
Income (loss) from continuing operations		3,239			1,496			(351	)		(288,191	)		(283,807	)
Net income (loss)		3,239			1,496			(351	)		(288,191	)		(283,807	)
Net income attributable to noncontrolling interest		1,174			1,462			1,318			1,528			5,482
Net income (loss) attributable to Monster Worldwide, Inc.	$	2,065		$	34		$	(1,669	)	$	(289,719	)	$	(289,289	)
Basic earnings (loss) per share attributable to Monster Worldwide, Inc.	$	0.02		$	—		$	(0.02	)	$	(3.31	)	$	(3.29	)
Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.	$	0.02		$	—		$	(0.02	)	$	(3.31	)	$	(3.29	)
Weighted average shares outstanding:
Basic		91,102			87,080			86,576			87,478			88,045
Diluted		94,416			89,955			86,576			87,478			88,045
Net income (loss)	$	3,239		$	1,496		$	(351	)	$	(288,191	)	$	(283,807	)
Other comprehensive income (loss):
Foreign currency translation adjustments, net		3,496			(2,861	)		(27,563	)		(29,883	)		(56,811	)
Comprehensive income (loss)		6,735			(1,365	)		(27,914	)		(318,074	)		(340,618	)
Comprehensive income (loss) attributable to noncontrolling interest		347			4,379			(14	)		(1,918	)		2,794
Comprehensive income (loss) attributable to Monster Worldwide, Inc.	$	6,388		$	(5,744	)	$	(27,900	)	$	(316,156	)	$	(343,412	)

See further description of goodwill impairment, gain on deconsolidation of subsidiaries, net, income taxes and net income attributable to noncontrolling interest in Notes 5, 11, 17 and 3, respectively.

MONSTER WORLDWIDE, INC.

FINANCIAL INFORMATION BY QUARTER (UNAUDITED)

(In thousands, except per share amounts)

	2013
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Revenue	$	211,986		$	200,058		$	196,817		$	198,718		$	807,579
Salaries and related		97,575			89,467			92,931			99,433			379,406
Office and general		51,132			52,262			51,542			50,461			205,397
Marketing and promotion		49,267			43,394			38,089			38,840			169,590
Restructuring and other special charges		13,167			6,828			—			—			19,995
Total operating expenses		211,141			191,951			182,562			188,734			774,388
Operating income		845			8,107			14,255			9,984			33,191
Interest and other, net		(1,268	)		(1,357	)		(1,482	)		(1,663	)		(5,770	)
(Loss) Income before income taxes and loss in equity interests		(423	)		6,750			12,773			8,321			27,421
(Benefit from) provision for income taxes		(11,999	)		2,366			4,480			28,157			23,004
Loss in equity interests, net		(458	)		(245	)		(119	)		(86	)		(908	)
Income (loss) from continuing operations		11,118			4,139			8,174			(19,922	)		3,509
(Loss) income from discontinued operations, net of tax		(6,134	)		(759	)		3,095			—			(3,798	)
Net income (loss)		4,984			3,380			11,269			(19,922	)		(289	)
Net income attributable to noncontrolling interest		—			—			—			193			193
Net income (loss) attributable to Monster Worldwide, Inc.	$	4,984		$	3,380		$	11,269		$	(20,115	)	$	(482	)
Basic earnings (loss) per share attributable to Monster Worldwide, Inc.:
Income (loss) from continuing operations	$	0.10		$	0.04		$	0.08		$	(0.21	)	$	0.03
(Loss) income from discontinued operations, net of tax		(0.06	)		(0.01	)		0.03			—			(0.04	)
Basic earnings (loss) per share	$	0.04		$	0.03		$	0.11		$	(0.21	)	$	—
Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.:
Income (loss) from continuing operations	$	0.10		$	0.04		$	0.08		$	(0.21	)	$	0.03
(Loss) income from discontinued operations, net of tax		(0.06	)		(0.01	)		0.03			—			(0.04	)
Diluted earnings (loss) per share	$	0.04		$	0.03		$	0.11		$	(0.21	)	$	—
Weighted average shares outstanding:
Basic		111,402			110,932			105,394			97,872			106,947
Diluted		112,637			111,937			105,967			97,872			107,913
Net income (loss)	$	4,984		$	3,380		$	11,269		$	(19,922	)	$	(289	)
Other comprehensive (loss) income:
Foreign currency translation adjustments, net		(36,999	)		(9,139	)		21,022			1,257			(23,859	)
Comprehensive (loss) income		(32,015	)		(5,759	)		32,291			(18,665	)		(24,148	)
Comprehensive income attributable to noncontrolling interest		—			—			—			128			128
Comprehensive (loss) income attributable to Monster Worldwide, Inc.	$	(32,015	)	$	(5,759	)	$	32,291		$	(18,793	)	$	(24,276	)

See further description of restructuring, income taxes and discontinued operations in Notes 6, 17, and 7, respectively.

(a) Earnings per share calculations for each quarter include the weighted average effect of stock issuances and common stock equivalents for the quarter; therefore, the sum of quarterly earnings per share amounts may not equal full-year earnings per share amounts, which reflect the weighted average effect on an annual basis. Diluted earnings per share calculations for each quarter include the effect of stock options, non-vested restricted stock units and non-vested restricted stock, and the 3.50% convertible senior notes due 2019, when dilutive to the quarter. In addition, basic earnings per share and diluted earnings per share may not add due to rounding.

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Goodwill and Intangible Assets - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	0 Months Ended	3 Months Ended	12 Months Ended			3 Months Ended
	Feb. 05, 2013 Segment	Dec. 31, 2014	Dec. 31, 2014 Segment	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2012	Sep. 30, 2012
Goodwill and Intangible Assets Disclosure [Line Items]
Number of reportable segments	4		3
Number of operating segments	4		3
Goodwill impairment charge		$ 325,800	$ 325,800		$ 262,650
Goodwill impairment, net of tax		263,047
Goodwill impairment, tax benefit		62,753	62,753
Amortization expense			2,624	9,234	12,353
Indefinite-lived intangible asset, impairment charge		1,000
Careers - China
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill impairment charge						46,429	216,221
Careers North America
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill impairment charge		263,000	263,000
Internet Advertising & Fees
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill impairment charge		$ 62,800	$ 62,800

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SEGMENT AND GEOGRAPHIC DATA (Tables)

12 Months Ended

Dec. 31, 2014

Operations by Reportable Segment

The following tables present the Company’s operations, excluding discontinued operations, by reportable segment and by geographic region:

	The year ended December 31,
	2014			2013			2012
Revenue
Careers – North America	$	436,946		$	446,274		$	462,962
Careers – International		269,064			288,623			351,130
Internet Advertising & Fees		64,003			72,682			76,300
Revenue	$	770,013		$	807,579		$	890,392
Operating (Loss) Income
Careers – North America	$	(198,294	)	$	65,009		$	42,686
Careers – International		(25,129	)		(18,596	)		13,076
Internet Advertising & Fees		(48,624	)		24,492			17,721
		(272,047	)		70,905			73,483
Corporate expenses		(50,249	)		(37,714	)		(41,331	)
Operating (Loss) Income	$	(322,296	)	$	33,191		$	32,152
Depreciation and Amortization
Careers – North America	$	24,381		$	31,204		$	35,446
Careers – International		19,174			22,874			22,181
Internet Advertising & Fees		3,589			4,354			5,943
		47,144			58,432			63,570
Corporate expenses		1,499			724			709
Depreciation and Amortization	$	48,643		$	59,156		$	64,279
Restructuring and Other Special Charges
Careers – North America	$	—		$	9,537		$	20,970
Careers – International		—			7,866			15,990
Internet Advertising & Fees		—			341			2,123
Corporate expenses		—			2,251			1,275
Restructuring and Other Special Charges	$	—		$	19,995		$	40,358
Goodwill Impairment
Careers – North America	$	263,000		$	—		$	—
Careers – International		—			—			—
Internet Advertising & Fees		62,800			—			—
Corporate expenses		—			—			—
Goodwill Impairment	$	325,800		$	—		$	—

Revenue by Geographic Region

Revenue by Geographic Region (a)
United States	$	484,252	$	500,746	$	517,268
International		285,761		306,833		373,124
Revenue	$	770,013	$	807,579	$	890,392

(a) Revenue by geographic region is generally based on the location of the Company’s subsidiary.

Long-lived Assets by Geographic Region

Long-lived Assets by Geographic Region (b)
United States	$	89,343	$	88,284	$	103,112
International		30,386		35,885		44,501
Total Long-Lived Assets	$	119,729	$	124,169	$	147,613

(b) Total long-lived assets includes property and equipment, net.

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BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2014

Activity in Allowance for Doubtful Accounts

Including discontinued operations, the activity in the allowance for doubtful accounts is as follows:

Year Ended December 31,	Beginning Balance		Charged to Expense		Write-Offs and Other			Ending Balance
2014	$	3,995	$	1,707	$	(2,407	)	$	3,295
2013	$	4,721	$	2,367	$	(3,093	)	$	3,995
2012	$	5,240	$	4,469	$	(4,988	)	$	4,721

Reconciliation of Shares Used in Calculating Basic and Diluted Earnings Per Share

A reconciliation of shares used in calculating basic and diluted (loss) earnings per share is as follows:

	The year ended December 31,
	2014		2013		2012
Basic weighted-average shares outstanding		88,045		106,947		112,866
Effect of common stock equivalents – stock options and non-vested stock under employee compensation plans(1)		—		966		1,129
Diluted weighted-average shares outstanding(1)		88,045		107,913		113,995
Weighted-average anti-dilutive common stock equivalents(1)		6,937		5,337		7,167

(1) For periods in which losses are presented, dilutive earnings per share calculations do not differ from basic earnings per share because the effects of any potential common stock equivalents are anti-dilutive and therefore not included in the calculation of dilutive earnings per share. For the year ended December 31, 2014, those potential shares totaled 3,046 which are included in the weighted average anti-dilutive common stock equivalents above, in addition to 3,891 of out of the money anti-dilutive common stock equivalents for the year ended December 31, 2014.

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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2014

Recognition of Pre-Tax Compensation Expense

The Company recognized pre-tax compensation expense, excluding discontinued operations, in the consolidated statements of operations related to stock-based compensation as follows:

	The year ended December 31,
	2014		2013		2012
Non-vested stock, included in salaries and related	$	35,357	$	25,391	$	28,123
Stock options, included in salaries and related		—		—		51
Total	$	35,357	$	25,391	$	28,174

Non-Vested Stock Activity

The Company’s non-vested stock activity is as follows (shares in thousands):

	The year ended December 31,
	2014					2013					2012
	Shares			Weighted Average Fair Value at Grant Date		Shares			Weighted Average Fair Value at Grant Date		Shares			Weighted Average Fair Value at Grant Date
Non-vested at beginning of period		13,142		$	5.58		7,639		$	10.01		7,432		$	13.85
Granted RSAs		—			—		1,213			4.72		3,156			6.88
Granted RSUs		617			5.58		8,694			4.15		1,230			6.89
Forfeited		(472	)		5.41		(1,386	)		10.93		(1,102	)		12.14
Vested		(4,733	)		7.11		(3,018	)		5.10		(3,077	)		14.07
Non-vested at end of period		8,554		$	4.85		13,142		$	5.58		7,639		$	10.01

Stock Option Activity

The Company’s stock option activity is as follows (shares in thousands):

	The year ended December 31,
	2014					2013					2012
	Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Outstanding as of the beginning of the period		928		$	29.68		1,029		$	29.04		1,560		$	24.10
Exercised		—			—		—			—		(3	)		9.11
Forfeited/expired/cancelled		(782	)		29.02		(101	)		23.27		(528	)		29.10
Outstanding at end of the period		146		$	32.32		928		$	29.68		1,029		$	29.04
Options exercisable at end of period		146		$	32.32		928		$	29.68		1,029		$	29.04
Aggregate intrinsic value of options exercised during the period	$	—				$	—				$	2

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STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2014

STOCK-BASED COMPENSATION

2. STOCK-BASED COMPENSATION

The Company awards non-vested stock to employees, directors and executive officers in the form of Restricted Stock Awards (“RSAs”) and Restricted Stock Units (“RSUs”), market-based RSAs and RSUs, performance-based RSAs and RSUs and stock options. The Compensation Committee of the Company’s Board of Directors approves stock-based compensation awards for all employees and executive officers of the Company. The Corporate Governance and Nominating Committee of the Company’s Board of Directors approves stock-based compensation awards for all non-employee directors of the Company. The Company uses the fair-market value of the Company’s common stock on the date the award is approved to measure fair value for service-based and performance-based awards, a Monte Carlo simulation model to determine both the fair value and requisite service period of market-based awards and the Black-Scholes option-pricing model to determine the fair value of stock option awards. The Company presents as a financing activity in the consolidated statement of cash flows the benefits of tax deductions in excess of the tax-effected compensation of the related stock-based awards for the options exercised and vested RSAs and RSUs.

The Company recognized pre-tax compensation expense, excluding discontinued operations, in the consolidated statements of operations related to stock-based compensation as follows:

	The year ended December 31,
	2014		2013		2012
Non-vested stock, included in salaries and related	$	35,357	$	25,391	$	28,123
Stock options, included in salaries and related		—		—		51
Total	$	35,357	$	25,391	$	28,174

Effective November 4, 2014, Salvatore Iannuzzi resigned as Chief Executive Officer and President of the Company. In connection with his resignation, the Company accelerated the vesting of 160,501 RSAs and 2,250,000 RSUs, resulting in $4,354 of additional non-cash compensation. See Note 18 –Commitments for further discussion.

As of December 31, 2014, the Company has issued the following types of equity awards under its 2008 Equity Incentive Plan, as amended and restated:

Restricted Stock

The Company, from time to time, enters into separate non-vested share-based payment arrangements with employees, executives and directors. The Company grants RSUs that are subject to continued employment and vesting conditions, but do not have dividend or voting rights. The Company also grants RSAs that are subject to continued employment and vesting conditions, have voting rights, but do not have dividend rights. Directors of the Company receive automatic RSAs or RSUs which are measured using the fair market value of the Company’s Common Stock on the date of the grant. The Company also grants market-based RSAs and RSUs that vest contingent on meeting certain stock price targets within a specified time period, and performance-based RSAs and RSUs that vest contingent on meeting specific financial results within a specified time period.

Inclusive of discontinued operations, the tax benefits recognized on the non-vested stock-based compensation expenses were $12,154, $7,430, and $8,878 for the years ended December 31, 2014, 2013 and 2012, respectively. In the event that stock-based compensation vests at a price below the original grant date price, the recognized tax benefits will not be realized. Such tax benefit deficiencies may be charged to equity to the extent of accumulated excess realized tax benefits. At December 31, 2014, the Company has no remaining accumulated excess realized tax benefits. In the event that stock-based compensation vests at a price below the original grant date, the tax benefit deficiencies will be charged to the tax provision.

Service-Based Awards – During 2014, the Company granted an aggregate of 581,915 service-based RSUs to approximately 250 employees, executive officers and directors of the Company. The RSUs vest in various increments on the anniversaries of the individual grant dates, through December 9, 2019, subject to the recipient’s continued employment or service through each applicable vesting date. The Company did not grant RSAs in 2014. Compensation expense for service-based awards is recognized ratably over the requisite service period, net of estimated forfeitures.

During 2013, the Company granted an aggregate of 1,212,848 and 286,500 service-based RSAs and RSUs, respectively, to approximately 75 employees, executive officers and directors of the Company. The RSAs and RSUs vest in various increments on the anniversaries of the individual grant dates, through December 10, 2017, subject to the recipient’s continued employment or service through each applicable vesting date.

During 2012, the Company granted an aggregate of 3,156,515 and 1,229,526 service-based RSAs and RSUs, respectively, to approximately 225 employees, executive officers and directors of the Company. The RSAs and RSUs vest in various increments on the anniversaries of the individual grant dates, through December 11, 2016, subject to the recipient’s continued employment or service through each applicable vesting date.

Market-Based Awards – During 2013, the Company granted 5,340,390 market-based RSUs to approximately 450 employees that will vest contingent on meeting certain stock price targets within five years of the grant date. The market-based RSUs vest in four tranches, with each tranche equaling 25% of the award, if, and when, certain stock price targets are achieved and maintained for 15 trading days in a consecutive 30-day trading period, subject to the recipient’s continued employment and service through the one year anniversary of the target stock price being achieved. Compensation expense for market-based awards is recognized over the requisite service period as derived using a Monte Carlo simulation model, net of estimated forfeitures. No market-based RSUs were granted during 2014 or 2012.

Performance-Based Awards – During 2014, the Company granted 35,000 RSUs to 2 employees, subject to certain specified performance-based conditions. Compensation expense is recognized based on the probability of achieving the performance conditions associated with the respective shares, as determined by management, net of estimated forfeitures.

During 2013, the Company granted 3,067,200 RSUs to approximately 1,100 employees, subject to certain specified performance-based conditions. No performance-based RSUs were granted during 2012.

As of December 31, 2014, the unrecognized compensation expense related to non-vested stock was $19,638 which is expected to be recognized over a weighted-average period of 1.2 years.

The Company’s non-vested stock activity is as follows (shares in thousands):

	The year ended December 31,
	2014					2013					2012
	Shares			Weighted Average Fair Value at Grant Date		Shares			Weighted Average Fair Value at Grant Date		Shares			Weighted Average Fair Value at Grant Date
Non-vested at beginning of period		13,142		$	5.58		7,639		$	10.01		7,432		$	13.85
Granted RSAs		—			—		1,213			4.72		3,156			6.88
Granted RSUs		617			5.58		8,694			4.15		1,230			6.89
Forfeited		(472	)		5.41		(1,386	)		10.93		(1,102	)		12.14
Vested		(4,733	)		7.11		(3,018	)		5.10		(3,077	)		14.07
Non-vested at end of period		8,554		$	4.85		13,142		$	5.58		7,639		$	10.01

In connection with the Company’s corporate restructuring programs, the Company accelerated the vesting of 418,333 RSAs and RSUs to two former executives in the second quarter of 2013, the expense of which is recorded in restructuring and discontinued operations.

Stock Options

The Company’s stock option activity is as follows (shares in thousands):

	The year ended December 31,
	2014					2013					2012
	Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price		Shares			Weighted Average Exercise Price
Outstanding as of the beginning of the period		928		$	29.68		1,029		$	29.04		1,560		$	24.10
Exercised		—			—		—			—		(3	)		9.11
Forfeited/expired/cancelled		(782	)		29.02		(101	)		23.27		(528	)		29.10
Outstanding at end of the period		146		$	32.32		928		$	29.68		1,029		$	29.04
Options exercisable at end of period		146		$	32.32		928		$	29.68		1,029		$	29.04
Aggregate intrinsic value of options exercised during the period	$	—				$	—				$	2

Aggregate intrinsic value is calculated as the difference between the closing market price of the Company’s common stock as of each exercise date and the exercise price of the underlying options. The Company has not granted any stock options subsequent to 2008 and all options were fully expensed prior to January 1, 2014.

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GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2014

Summary of Changes in Goodwill by Reportable Segment

A summary of changes in goodwill by reportable segment are as follows:

	Careers- North America			Careers- International			Internet Advertising & Fees			Total
Balance as of December 31, 2013:
Goodwill	$	598,114		$	408,464		$	151,590		$	1,158,168
Accumulated impairment losses		—			(262,650	)		—			(262,650	)
Net goodwill as of December 31, 2013		598,114			145,814			151,590			895,518
Acquisition activity		25,061			—			—			25,061
Write-off in connection with deconsolidation of subsidiaries		—			(4,057	)		—			(4,057	)
Impairment		(263,000	)		—			(62,800	)		(325,800	)
Translation and other adjustments, net		—			(50,101	)		—			(50,101	)
Balance as of December 31, 2014:
Goodwill		623,175			354,306			151,590			1,129,071
Accumulated impairment losses		(263,000	)		(262,650	)		(62,800	)		(588,450	)
Net goodwill as of December 31, 2014	$	360,175		$	91,656		$	88,790		$	540,621

Intangible Assets

The Company’s intangible assets, excluding the assets of the discontinued operations, consisted of the following:

	December 31, 2014					December 31, 2013
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization			Weighted Average Amortization Period (Years)
Customer relationships	$	48,856	$	(47,785	)	$	49,808	$	(48,895	)	2
Trademarks/Internet domains		14,297		—			15,240		—		Indefinite lived
Trade Names		7,786		(2,181	)		10,600		(3,926	)	3
Patents		8,428		(584	)		718		(52	)	5
Other		32,986		(31,300	)		29,798		(29,233	)	2
Total	$	112,353	$	(81,850	)	$	106,164	$	(82,106	)

Estimated Annual Amortization Expense

Based on the carrying value of identified intangible assets recorded as of December 31, 2014, and assuming no subsequent impairment of the underlying assets, the estimated annual amortization expense for the next five years is as follows:

	2015		2016		2017		2018		2019
Estimated amortization expense	$	2,974	$	2,640	$	2,631	$	2,534	$	1,722

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Tax Effects of Temporary Differences that Give Rise to Deferred Tax Assets And Liabilities (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Deferred tax assets:
Allowance for doubtful accounts	$ 941	$ 1,310
Accrued expenses and other liabilities	9,731	6,038
Tax loss carry-forwards	71,916	67,892
Tax credits	55,312	48,843
Non-cash stock based compensation expense	6,552	4,379
Valuation allowance	(69,807)	(48,906)
Deferred tax assets	74,645	79,556
Deferred tax liabilities:
Foreign investment	(12,166)	(9,606)
Property and equipment	(25,018)	(24,956)
Goodwill and intangibles	(11,199)	(60,941)
Deferred tax liabilities	(48,383)	(95,503)
Net deferred tax assets (liabilities)	$ 26,262	$ (15,947)

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LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2014

Long-term Debt, Net of Discounts

Long-term debt, net of discounts where applicable, is summarized as follows:

	December 31,
	2014			2013
3.50% convertible senior notes due 2019	$	143,750		$	—
Credit facilities		87,750			135,275
Unamortized discount on convertible senior notes		(20,116	)		—
		211,384			135,275
Less: current portion of long-term debt		9,563			9,375
Long-term debt, net, less current portion	$	201,821		$	125,900

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Stock Option Activity (Detail) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Shares
Outstanding as of the beginning of the period	928	1,029	1,560
Exercised			(3)
Forfeited/expired/cancelled	(782)	(101)	(528)
Outstanding at the end of the period	146	928	1,029
Options exercisable at end of period	146	928	1,029
Aggregate intrinsic value of options exercised during the period			$ 2
Weighted Average Exercise Price
Outstanding as of the beginning of the period	$ 29.68	$ 29.04	$ 24.10
Exercised			$ 9.11
Forfeited/expired/cancelled	$ 29.02	$ 23.27	$ 29.10
Outstanding at the end of the period	$ 32.32	$ 29.68	$ 29.04
Options exercisable at end of period	$ 32.32	$ 29.68	$ 29.04

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Investments - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended			3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013	Jun. 13, 2012	Jun. 30, 2014	Dec. 31, 2008	Jan. 03, 2014
Investment [Line Items]
Carrying value of the investment	$ 20,700	$ 220
Australia
Investment [Line Items]
Percentage of equity investment							50.00%
Carrying value of the investment	296	0
Additional investments in equity method investee	1,331	1,897	2,077
Finland
Investment [Line Items]
Percentage of equity investment								25.00%
Dividend received from investment in Finland				658	728
Carrying value of the investment		220
Eastern Europe and the Baltics | Alma Career Oy
Investment [Line Items]
Percentage of equity investment	15.00%
Dividend received from investment in Finland						199
Carrying value of the investment	20,404
Additional investments in equity method investee	$ 6,500

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CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 94,297	$ 88,581
Accounts receivable, net of allowance for doubtful accounts of $3,295 and $3,995, respectively	282,523	332,675
Prepaid and other	83,326	82,809
Total current assets	460,146	504,065
Goodwill	540,621	895,518
Property and equipment, net	119,729	124,169
Intangibles, net	30,503	24,058
Investment in unconsolidated affiliates	20,700	220
Other assets	45,452	38,227
Total assets	1,217,151	1,586,257
Current liabilities:
Accounts payable, accrued expenses and other	159,027	167,306
Deferred revenue	300,724	342,156
Current portion of long-term debt	9,563	9,375
Total current liabilities	469,314	518,837
Long-term income taxes payable	54,636	53,078
Long-term debt, net, less current portion	201,821	125,900
Other long-term liabilities	16,635	44,297
Total liabilities	742,406	742,112
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.001 par value, authorized 800 shares; issued and outstanding: none	0	0
Common stock	144	142
Additional paid-in capital	2,040,209	2,003,394
Accumulated deficit	(854,160)	(564,871)
Accumulated other comprehensive income	9,245	63,368
Less: Treasury stock, at cost, 56,425 and 49,299 shares, respectively	(774,940)	(712,362)
Total Monster Worldwide, Inc. stockholders' equity	420,498	789,671
Noncontrolling interest in subsidiary	54,247	54,474
Total stockholders' equity	474,745	844,145
Total liabilities and stockholders' equity	1,217,151	1,586,257
Common Class B
Stockholders' equity:
Common stock	$ 0	$ 0

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Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2014

Financial Information by Quarter

MONSTER WORLDWIDE, INC.

FINANCIAL INFORMATION BY QUARTER (UNAUDITED)

(In thousands, except per share amounts)

	2014
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Revenue	$	198,149		$	194,441		$	191,220		$	186,203		$	770,013
Salaries and related		101,999			103,220			100,587			107,337			413,143
Office and general		55,207			49,131			52,186			50,450			206,974
Marketing and promotion		41,413			37,377			35,109			32,493			146,392
Goodwill impairment		—			—			—			325,800			325,800
Total operating expenses		198,619			189,728			187,882			516,080			1,092,309
Operating (loss) income		(470	)		4,713			3,338			(329,877	)		(322,296	)
Gain on deconsolidation of subsidiaries, net		11,828			—			—			—			11,828
Interest and other, net		(1,323	)		(1,660	)		(1,830	)		(3,739	)		(8,552	)
Income (loss) before income taxes and (loss) income in equity interests		10,035			3,053			1,508			(333,616	)		(319,020	)
Provision for (benefit from) income taxes		6,663			1,615			1,934			(45,503	)		(35,291	)
(Loss) income in equity interests, net		(133	)		58			75			(78	)		(78	)
Income (loss) from continuing operations		3,239			1,496			(351	)		(288,191	)		(283,807	)
Net income (loss)		3,239			1,496			(351	)		(288,191	)		(283,807	)
Net income attributable to noncontrolling interest		1,174			1,462			1,318			1,528			5,482
Net income (loss) attributable to Monster Worldwide, Inc.	$	2,065		$	34		$	(1,669	)	$	(289,719	)	$	(289,289	)
Basic earnings (loss) per share attributable to Monster Worldwide, Inc.	$	0.02		$	—		$	(0.02	)	$	(3.31	)	$	(3.29	)
Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.	$	0.02		$	—		$	(0.02	)	$	(3.31	)	$	(3.29	)
Weighted average shares outstanding:
Basic		91,102			87,080			86,576			87,478			88,045
Diluted		94,416			89,955			86,576			87,478			88,045
Net income (loss)	$	3,239		$	1,496		$	(351	)	$	(288,191	)	$	(283,807	)
Other comprehensive income (loss):
Foreign currency translation adjustments, net		3,496			(2,861	)		(27,563	)		(29,883	)		(56,811	)
Comprehensive income (loss)		6,735			(1,365	)		(27,914	)		(318,074	)		(340,618	)
Comprehensive income (loss) attributable to noncontrolling interest		347			4,379			(14	)		(1,918	)		2,794
Comprehensive income (loss) attributable to Monster Worldwide, Inc.	$	6,388		$	(5,744	)	$	(27,900	)	$	(316,156	)	$	(343,412	)

See further description of goodwill impairment, gain on deconsolidation of subsidiaries, net, income taxes and net income attributable to noncontrolling interest in Notes 5, 11, 17 and 3, respectively.

MONSTER WORLDWIDE, INC.

FINANCIAL INFORMATION BY QUARTER (UNAUDITED)

(In thousands, except per share amounts)

	2013
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Revenue	$	211,986		$	200,058		$	196,817		$	198,718		$	807,579
Salaries and related		97,575			89,467			92,931			99,433			379,406
Office and general		51,132			52,262			51,542			50,461			205,397
Marketing and promotion		49,267			43,394			38,089			38,840			169,590
Restructuring and other special charges		13,167			6,828			—			—			19,995
Total operating expenses		211,141			191,951			182,562			188,734			774,388
Operating income		845			8,107			14,255			9,984			33,191
Interest and other, net		(1,268	)		(1,357	)		(1,482	)		(1,663	)		(5,770	)
(Loss) Income before income taxes and loss in equity interests		(423	)		6,750			12,773			8,321			27,421
(Benefit from) provision for income taxes		(11,999	)		2,366			4,480			28,157			23,004
Loss in equity interests, net		(458	)		(245	)		(119	)		(86	)		(908	)
Income (loss) from continuing operations		11,118			4,139			8,174			(19,922	)		3,509
(Loss) income from discontinued operations, net of tax		(6,134	)		(759	)		3,095			—			(3,798	)
Net income (loss)		4,984			3,380			11,269			(19,922	)		(289	)
Net income attributable to noncontrolling interest		—			—			—			193			193
Net income (loss) attributable to Monster Worldwide, Inc.	$	4,984		$	3,380		$	11,269		$	(20,115	)	$	(482	)
Basic earnings (loss) per share attributable to Monster Worldwide, Inc.:
Income (loss) from continuing operations	$	0.10		$	0.04		$	0.08		$	(0.21	)	$	0.03
(Loss) income from discontinued operations, net of tax		(0.06	)		(0.01	)		0.03			—			(0.04	)
Basic earnings (loss) per share	$	0.04		$	0.03		$	0.11		$	(0.21	)	$	—
Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.:
Income (loss) from continuing operations	$	0.10		$	0.04		$	0.08		$	(0.21	)	$	0.03
(Loss) income from discontinued operations, net of tax		(0.06	)		(0.01	)		0.03			—			(0.04	)
Diluted earnings (loss) per share	$	0.04		$	0.03		$	0.11		$	(0.21	)	$	—
Weighted average shares outstanding:
Basic		111,402			110,932			105,394			97,872			106,947
Diluted		112,637			111,937			105,967			97,872			107,913
Net income (loss)	$	4,984		$	3,380		$	11,269		$	(19,922	)	$	(289	)
Other comprehensive (loss) income:
Foreign currency translation adjustments, net		(36,999	)		(9,139	)		21,022			1,257			(23,859	)
Comprehensive (loss) income		(32,015	)		(5,759	)		32,291			(18,665	)		(24,148	)
Comprehensive income attributable to noncontrolling interest		—			—			—			128			128
Comprehensive (loss) income attributable to Monster Worldwide, Inc.	$	(32,015	)	$	(5,759	)	$	32,291		$	(18,793	)	$	(24,276	)

See further description of restructuring, income taxes and discontinued operations in Notes 6, 17, and 7, respectively.

(a) Earnings per share calculations for each quarter include the weighted average effect of stock issuances and common stock equivalents for the quarter; therefore, the sum of quarterly earnings per share amounts may not equal full-year earnings per share amounts, which reflect the weighted average effect on an annual basis. Diluted earnings per share calculations for each quarter include the effect of stock options, non-vested restricted stock units and non-vested restricted stock, and the 3.50% convertible senior notes due 2019, when dilutive to the quarter. In addition, basic earnings per share and diluted earnings per share may not add due to rounding.

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Financial Information by Quarter (Parenthetical) (Detail) (3.50% Convertible Senior Notes Due 2019)	12 Months Ended
	Dec. 31, 2014	Oct. 22, 2014
3.50% Convertible Senior Notes Due 2019
Quarterly Financial Information [Line Items]
Debt instrument, interest rate	3.50%	3.50%
Debt instrument maturity date	2019

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows provided by operating activities:
Net loss	$ (283,807)	$ (289)	$ (258,720)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	48,643	59,156	70,000
Provision for doubtful accounts	1,707	2,367	4,469
Stock-based compensation	35,357	25,391	28,964
Loss in equity interests, net	78	908	1,081
Impairment of investment & other intangibles	2,070		5,205
Non-cash restructuring charges		5,315	7,505
Deferred income taxes	(43,418)	28,574	(9,814)
Gain on deconsolidation of subsidiaries	(13,647)
Tax benefit from change in uncertain tax positions		(14,355)	(43,193)
Amount reclassified from accumulated other comprehensive income	1,819	(23,109)
Goodwill impairment	325,800		262,650
Excess income tax benefit from equity compensation plans	(199)	(5,907)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	40,567	8,018	(2,013)
Prepaid and other	(12,508)	14,573	13,332
Deferred revenue	(32,716)	(22,189)	(17,456)
Accounts payable, accrued liabilities and other	13,009	(44,631)	(8,683)
Total adjustments	366,562	34,111	312,047
Net cash provided by operating activities	82,755	33,822	53,327
Cash flows used for investing activities:
Capital expenditures	(39,843)	(32,616)	(59,572)
Payments for acquisitions, net of cash acquired	(27,005)
Investment in Alma Career Oy	(6,516)
Cash funded to and dividends received from equity investee and other	(2,163)	(6,266)	(1,349)
Capitalized patent defense costs	(4,539)
Net cash used for investing activities	(80,066)	(38,882)	(60,921)
Cash flows provided by (used for) financing activities:
Payments on borrowings on credit facilities	(192,300)	(91,599)	(305,709)
Proceeds from borrowings on credit facilities	146,400	69,500	224,718
Payments on borrowings on term loan	(91,625)	(6,875)	(43,750)
Proceeds from borrowings on term loan	90,000		100,000
Proceeds from issuance of convertible notes	143,750
Fees paid on the issuance of debt and purchase of capped call	(23,111)
Repurchase of common stock	(52,070)	(107,167)	(65,611)
Tax withholdings related to net share settlements of restricted stock awards and units	(10,565)	(6,061)	(8,459)
Excess income tax benefit from equity compensation plans	199	5,907
Net proceeds from sale of noncontrolling interest		86,523
Dividend paid to minority shareholder	(3,021)
Net cash provided by (used for) financing activities	7,657	(49,772)	(98,811)
Effects of exchange rates on cash	(4,630)	(4,772)	4,273
Net increase (decrease) in cash and cash equivalents	5,716	(59,604)	(102,132)
Cash and cash equivalents, beginning of period	88,581	148,185	250,317
Cash and cash equivalents, end of period	$ 94,297	$ 88,581	$ 148,185

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Subsequent Events - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended		0 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Feb. 10, 2015 Person
Subsequent Events [Line Items]
Restructuring charges pre-tax	$ 5,315	$ 7,505
Subsequent Event
Subsequent Events [Line Items]
Number of Associates to be reduced from current work force			300
Percentage of reduction of full time staff			7.00%
Subsequent Event | Minimum
Subsequent Events [Line Items]
Cost savings initiatives, annual savings			38,000
Restructuring charges pre-tax			18,000
Subsequent Event | Maximum
Subsequent Events [Line Items]
Cost savings initiatives, annual savings			45,000
Restructuring charges pre-tax			23,000

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Estimated Annual Amortization Expense (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Expected Amortization Expense [Line Items]
2015	$ 2,974
2016	2,640
2017	2,631
2018	2,534
2019	$ 1,722

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PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2014

Property, Equipment and Accumulated Depreciation Balances

The Company’s property, equipment and accumulated depreciation balances are as follows:

	December 31, 2014		December 31, 2013
Capitalized software costs	$	209,007	$	200,567
Furniture and equipment		16,196		22,785
Leasehold improvements		40,103		41,573
Computer and communications equipment		160,414		183,765
		425,720		448,690
Less: accumulated depreciation		305,991		324,521
Property and equipment, net	$	119,729	$	124,169

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Property and Equipment, Net - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Internally developed software costs capitalized	$ 28,024	$ 24,901	$ 32,604
Depreciation expense	$ 46,019	$ 49,922	$ 51,926

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STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2014

STOCKHOLDERS' EQUITY

16. STOCKHOLDERS’ EQUITY

Share Repurchase Plan

On October 25, 2011, the Board of Directors of the Company authorized a share repurchase program of up to $250,000 which expired on April 25, 2013. During the year ended December 31, 2012, the Company repurchased 8,481,453 shares at an average price of $7.72 per share. From the date of the inception of this repurchase program through expiration, the Company repurchased 13,986,349 shares at an average price of $7.67 per share. No share repurchases were made during the year ended 2013 related to this program.

On April 30, 2013, the Board of Directors of the Company authorized a share repurchase program of up to $200,000. Under the share repurchase program, shares of common stock will be purchased on the open market or through privately negotiated transactions from time-to-time through April 30, 2015. The timing and amount of purchases will be based on market conditions, corporate and legal requirements and other factors. The share repurchase program does not obligate the Company to acquire any specific number of shares in any period, and may be modified, suspended, extended or discontinued at any time without prior notice. During the year ended December 31, 2014, the Company repurchased 7,125,988 shares for a total of $51,927, excluding commissions, at an average price of $7.29 per share. From the date of the inception of this repurchase program through December 31, 2014, the Company repurchased 27,717,428 shares for a total of $158,683, excluding commissions, at an average price of $5.73 per share. The Company currently has $41,317 remaining under this repurchase program.

Equity Plans

In June 1999, the Company’s stockholders approved the adoption of the 1999 Long Term Incentive Plan (the “1999 Plan”) pursuant to which stock options, stock appreciation rights, restricted stock and other equity based awards were permitted to be granted. Stock options granted under the 1999 Plan were permitted to be incentive stock options or nonqualified stock options within the meaning of the Code. Following the adoption of the 2008 Plan defined below, no awards are available for future grants under the 1999 Plan.

In June 2008, the Company’s stockholders approved the adoption of the 2008 Equity Incentive Plan (the “2008 Plan”) pursuant to which stock options, stock appreciation rights, restricted stock and other equity based awards may be granted. Stock options granted under the 2008 Plan may be incentive stock options or nonqualified stock options within the meaning of the Code.

The total number of shares of the Company’s Common Stock that may be granted under the 2008 Plan, as amended, is the sum of (i) 15,685,000 shares, and (ii) the number of shares subject to outstanding awards under the 1999 Plan that on or after April 16, 2008 either (a) cease for any reason to be subject to such awards (other than by reason of exercise or settlement of the awards to the extent they are exercised for or settled in vested and non-forfeitable shares of Common Stock) or (b) are surrendered by participants under the 1999 Plan or are retained by the Company to pay all or a portion of the exercise price and/or withholding taxes relating to such awards. At December 31, 2014, 8,223,673 shares were available for future grants under the 2008 Plan, as amended and restated.

See Note 2- Stock-Based Compensation for activity related to the Company’s equity plans.

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FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2014

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of December 31, 2014:

	December 31, 2014
	Level 1		Level 2		Level 3		Total
Assets:
Bank time deposits	$	—	$	60,553	$	—	$	60,553
Foreign exchange contracts		—		74		—		74
Total Assets	$	—	$	60,627	$	—	$	60,627
Liabilities:
Foreign exchange contracts	$	—	$	265	$	—	$	265
Lease exit liabilities		—		—		8,515		8,515
Total Liabilities	$	—	$	265	$	8,515	$	8,780

The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of December 31, 2013:

	December 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Bank time deposits	$	—	$	46,881	$	—	$	46,881
U.S. and foreign government obligations		—		1,595		—		1,595
Bankers’ acceptances		—		8,475		—		8,475
Foreign exchange contracts		—		255		—		255
Total Assets	$	—	$	57,206	$	—	$	57,206
Liabilities:
Foreign exchange contracts	$	—	$	9	$	—	$	9
Lease exit liabilities		—		—		12,550		12,550
Total Liabilities	$	—	$	9	$	12,550	$	12,559

Changes in Fair Value of Level Three Liabilities

The changes in the fair value of the Level 3 liabilities are as follows:

	Lease Exit Liability
	Year ended December 31,
	2014			2013
Balance, Beginning of Period	$	12,550		$	14,233
Expense		7,208			6,225
Cash Payments and changes in fair value		(11,243	)		(7,908	)
Balance, End of Period	$	8,515		$	12,550

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COMMITMENTS

12 Months Ended

Dec. 31, 2014

COMMITMENTS

18. COMMITMENTS

Leases

The Company leases its facilities and a portion of its capital equipment under operating leases that expire at various dates. Some of the operating leases provide for increasing rents over the terms of the leases and total rent expense under these leases is recognized ratably over the initial renewal period of each lease. The following table presents future minimum lease commitments under non-cancelable operating leases and minimum rentals to be received under non-cancelable subleases at December 31, 2014:

	Operating Leases		Estimated Sublease Income
2015	$	36,280	$	2,229
2016		31,004		3,557
2017		28,593		3,654
2018		24,776		3,654
2019		20,885		3,654
Thereafter		50,851		4,526
	$	192,389	$	21,274

During the third quarter of 2013, the Company entered into an operating lease for an office facility in Weston, Massachusetts which replaced our office in Maynard, Massachusetts, the lease for which expired in 2014. The lease term began on January 1, 2014 and expires on May 30, 2025.

Total rent and related expenses under operating leases, excluding discontinued operations, were $51,226, $42,546, and $43,030, for the years ended December 31, 2014, 2013 and 2012, respectively. Operating lease obligations after 2014 relate primarily to office facilities.

Other Contractual Commitments

We also have $36,746 of non-cancelable contractual commitments as of December 31, 2014, excluding obligations under our financing agreements, primarily related to agreements for marketing arrangements and software licenses and subscriptions. For those agreements with variable terms, we do not estimate what the total obligation may be beyond any minimum pricing as of the reporting date. The majority of these commitments are due within two years. See Note 14 – Long-Term Debt for discussion on our obligations under our financing agreements.

Consulting, Employment and Non-Compete Agreements

The Company has entered into various consulting, employment and non-compete and/or non-solicitation agreements with certain key management personnel and former owners of acquired businesses. Employment agreements with key members of management are generally at will and provide for an unspecified term and for specified notice or the payment of severance in certain circumstances.

Effective November 4, 2014, Salvatore Iannuzzi resigned as Chief Executive Officer and President of the Company. Mr. Iannuzzi will be an employee of the Company until June 30, 2015 to facilitate an orderly transition. In connection with his resignation, on November 3, 2014, Mr. Iannuzzi and the Company entered into a Letter Agreement detailing the terms of his resignation from the Company. During the fourth quarter of 2014, the Company recognized $8,957 of charges associated with Mr. Iannuzzi’s resignation. This charge includes $4,354 of non-cash compensation associated with the acceleration of 160,501 RSA’s and 2,250,000 RSU’s. See Note 2 – Stock Based Compensation.

Employee Benefit Plans

The Company has a 401(k) profit-sharing plan covering all eligible employees. Since October 2010, after a temporary suspension from April 2009 through September 2010, the Company has provided for employer matching contributions equal to 50% of employee contributions, up to a maximum of 6% of their eligible compensation. Matching contributions are paid to participating employees in the form of the Company’s Common Stock or cash. Salaries and related expenses, excluding discontinued operations, contain $4,050, $4,060, and $4,596 of employer matching contributions for the years ended December 31, 2014, 2013 and 2012, respectively.

The Company also has defined contribution employee benefit plans for its employees outside of the United States. The cost of these plans included in salaries and related expenses, excluding discontinued operations, were $3,140, $2,952, and $3,275 for the years ended December 31, 2014, 2013 and 2012, respectively.

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Fair Value Measurement - Additional Information (Detail) (3.50% Convertible Senior Notes Due 2019)	0 Months Ended	12 Months Ended
	Oct. 22, 2014	Dec. 31, 2014	Oct. 22, 2014
3.50% Convertible Senior Notes Due 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, interest rate	3.50%	3.50%	3.50%
Debt instrument maturity Year	Oct. 15, 2019	Oct. 15, 2019

XML

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2014

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

The Company

Monster Worldwide, Inc. (together with its consolidated subsidiaries, the “Company,” “Monster,” “Monster Worldwide,” “we,” “our” or “us”) has operations that consist of three reportable segments: Careers-North America, Careers-International and Internet Advertising & Fees. Revenue in the Company’s Careers segments is primarily earned from the placement of job advertisements on the websites within the Monster network, access to the Monster network of online resume and social profile databases, recruitment media services and other career-related services. Revenue in the Company’s Internet Advertising & Fees segment is primarily earned from the display of advertisements on the Monster network of websites, “click-throughs” on text based links and leads provided to advertisers. The Company’s Careers segments provide online services to customers in a variety of industries throughout North America, Europe, and the Asia-Pacific region, while Internet Advertising & Fees delivers online services primarily in North America.

In May 2014, Monster revealed its “All the People, All the Jobs” strategy to drive the business and enhance its competitive position. Monster’s new strategy focuses on adding massive scale to its business to expand its total addressable market and the value it can provide to customers through a variety of new products, technologies and business models to successfully connect more people with more jobs.

Basis of Presentation

The consolidated financial statements include the accounts of the Company and all of its wholly-owned and majority-owned subsidiaries. Investments in which the Company does not have a controlling interest or is not the primary beneficiary, but has the ability to exert significant influence, are accounted for under the equity method of accounting. All inter-company accounts and transactions have been eliminated in consolidation. The noncontrolling interest in our South Korean subsidiary is recorded net of tax as Net income attributable to noncontrolling interest. We have reclassified certain amounts previously reported in our financial statements to conform to the current presentation, including amounts related to discontinued operations. Unless noted otherwise, discussions in these notes pertain to our continuing operations.

Use of Estimates

The preparation of the accompanying consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the reported amounts of assets and liabilities and revenues and expenses. These estimates include, among others, allowances for doubtful accounts, fair value of financial assets and liabilities, net realizable values on long-lived assets and deferred tax assets and liabilities, certain accrued expense accounts, deferred revenue, goodwill, revenue recognition and forfeitures associated with stock-based compensation. Actual results could differ from those estimates.

Revenue Recognition

The Company recognizes revenue on agreements in accordance with Accounting Standards Codification (“ASC”) ASC 605, Revenue Recognition .

Careers-North America and Careers-International. Our Careers-North America and Careers-International segments primarily earn revenue from the placement of job postings on the websites within the Monster network, access to the Monster network’s online resume and social profile databases, recruitment media services, applicant tracking services, online career-related solutions provided through a “Software as a Service” (“SaaS”) offering and other career-related services.

Where appropriate, we recognize revenue in accordance with Accounting Standards Update (“ASU”) No. 2009-13, Multiple-Deliverable Revenue Arrangements, which was effective January 1, 2011. The Company’s revenue associated with multiple element contracts is based on the selling price hierarchy, which utilizes vendor-specific objective evidence or (“VSOE”) when available, third-party evidence (“TPE”) if VSOE is not available, and if neither is available, then the best estimate of selling price is used. The Company utilizes VSOE in the majority of its multiple deliverable transactions. Under this accounting guidance, to treat elements in a multi-element arrangement as separate units of accounting, each element must have standalone value upon delivery. If the element has standalone value, the Company accounts for each element separately. In determining whether elements have standalone value, the Company considers the availability of the elements from other vendors, the nature of the elements, the timing of execution of contracts for customers and the contractual dependence of the element related to a customer’s acceptance.

We recognize revenue at the time that job postings and related accessories are displayed on the Monster network websites, based upon customer usage patterns. Revenue earned from subscriptions to the Monster network’s resume and social profile databases, applicant tracking services and other career-related services are recognized over the length of the underlying subscriptions, typically from two weeks to twelve months. The Company accounts for SaaS contracts as the services are being performed.

Unearned revenues are reported on the balance sheet as deferred revenue. We review accounts receivable for those that may potentially be uncollectible and any accounts receivable balances that are determined to be uncollectible are included in our allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance.

Internet Advertising & Fees. Our Internet Advertising & Fees segment primarily earns revenue from the display of advertisements on the Monster network of websites, “click-throughs” on text based links, leads provided to advertisers and subscriptions to premium services. We recognize revenue for online advertising as “impressions” are delivered. An “impression” is delivered when an advertisement appears in pages viewed by our users. We recognize revenue from the display of click-throughs on text based links as click-throughs occur. A click-through occurs when a user clicks on an advertiser’s listing. Revenue from lead generation is recognized as leads are delivered to advertisers.

Business Combinations

We account for business combinations in accordance with ASC 805, Business Combinations. The acquisition method of accounting requires that assets acquired and liabilities assumed be recorded at their fair values on the date of a business combination. Our consolidated financial statements and results of operations reflect an acquired business from the completion date of an acquisition. See Note 4 – Business Combinations.

Discontinued Operations

The Company accounts for business dispositions and its businesses held for sale in accordance with ASC 205-20, Discontinued Operations. ASC 205-20 requires the results of operations of business dispositions to be segregated from continuing operations and reflected as discontinued operations in current and prior periods. See Note 7 – Discontinued Operations.

Marketing and Promotion

Advertising production costs are recorded as expense the first time an advertisement appears. Costs of communicating advertising are recorded as expense as advertising space or airtime is used. All other advertising costs are expensed as incurred.

Concentrations of Risk

Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents and accounts receivable. Cash and cash equivalents are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally these deposits may be redeemed upon demand. The Company performs continuing credit evaluations of its customers, maintains allowances for potential credit losses and does not require collateral. The Company makes judgments as to its ability to collect outstanding receivables based primarily on management’s evaluation of the customer’s financial condition, past collection history and overall aging of the receivables. Historically, such losses have been within management’s expectations. The Company has not experienced significant losses related to receivables from individual customers or groups of customers in any particular industry or geographic area.

Cash and Cash Equivalents

Cash and cash equivalents, which primarily consist of bank time deposits, are stated at cost, which approximates fair value. For financial statement presentation purposes, the Company considers all highly liquid investments having original maturities of three months or less to be cash equivalents. Outstanding checks in excess of account balances, typically payroll and other contractual obligations disbursed on or near the last day of a reporting period, are reported as current liabilities in the accompanying consolidated balance sheets.

Accounts Receivable

The Company’s accounts receivable primarily consist of trade receivables. Management reviews accounts receivable on a monthly basis to determine if any receivables will potentially be uncollectible. The Company includes any accounts receivable balances that are determined to be uncollectible in its allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available, the Company believes its allowance for doubtful accounts as of December 31, 2014 and 2013 are adequate. However, actual write-offs could exceed the recorded allowance. Including discontinued operations, the activity in the allowance for doubtful accounts is as follows:

Year Ended December 31,	Beginning Balance		Charged to Expense		Write-Offs and Other			Ending Balance
2014	$	3,995	$	1,707	$	(2,407	)	$	3,295
2013	$	4,721	$	2,367	$	(3,093	)	$	3,995
2012	$	5,240	$	4,469	$	(4,988	)	$	4,721

Included in the December 31, 2012 ending balance of $4,721 is $796 of allowance for doubtful accounts attributable to discontinued operations. There are no such amounts included in the December 31, 2014 and December 31, 2013 balances.

Property and Equipment

Computer and communications equipment, furniture and equipment and capitalized software costs are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, generally three to ten years. Leasehold improvements are stated at cost and amortized using the straight-line method, over their estimated useful lives, or the lease term, whichever is shorter.

Internal Use Software and Website Development Costs

In accordance with ASC 350-40, Internal-Use Software, the Company capitalizes costs to purchase or internally develop software for internal use, as well as costs incurred to design, develop, test and implement enhancements to its website. These costs are included in property and equipment with an estimated useful life of five years.

Patent Defense Costs

The Company capitalizes legal costs incurred in the defense of the Company’s patents when it is believed that the future economic benefit of the patent will be maintained or increased and a successful defense is probable. Capitalized patent defense costs are amortized over the remaining expected life of the related patent. The Company’s assessment of future economic benefit or a successful defense of its patents involves considerable management judgment, and a different conclusion or outcome of litigation could result in a material impairment charge up to the carrying value of these assets. During the year ended December 31, 2014, the Company capitalized $4,539 of legal fees associated with the defense of its patents.

Goodwill and Intangible Assets

The Company evaluates its goodwill and indefinite lived intangible assets for impairment in accordance with ASC 350, Intangibles – Goodwill and Other. Goodwill is recorded when the purchase price paid for an acquisition exceeds the estimated fair value of the net identified tangible and intangible assets acquired.

The Company tests the recorded amount of goodwill for recovery on an annual basis in the fourth quarter of each fiscal year. Goodwill is tested more frequently if indicators of impairment exist. The goodwill impairment test is performed at the reporting unit level. The Company has three reporting units which are equivalent to our three operating segments: Careers-North America, Careers-International, and Internet Advertising & Fees.

In determining if goodwill is impaired, we estimate the fair value of the reporting unit and compare it to the carrying value of the assets and liabilities of that reporting unit. The Company determines the fair value of its reporting units using a weighting of fair values derived from the income approach and the market approach, depending on the availability of relevant market comparable information. Under the income approach, the Company calculates the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management’s estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used is based on the weighted-average cost of capital adjusted for the relevant risk associated with business-specific characteristics and the uncertainty related to the business’s ability to execute on the projected cash flows. Under the market approach, the Company estimates the fair value based on market multiples of cash flow and earnings derived from comparable publicly-traded companies with similar operating and investment characteristics as the reporting unit and considering a reasonable control premium. The weighting of the fair value derived from the market approach differs for each reporting unit depending on the level of comparability of these publicly-traded companies to the reporting unit. Due to the inherent uncertainty involved in making these estimates, actual results could differ from those estimates.

As a corroborative source of information, the Company reconciles the estimated aggregate fair values of its reporting units to within a reasonable range of its market capitalization, which includes an assumed control premium (an adjustment reflecting an estimated fair value on a control basis) to verify the reasonableness of the fair value of its reporting units obtained through the aforementioned methods. The control premium is estimated based upon control premiums observed in comparable market transactions. As none of our reporting units are publicly-traded, individual reporting unit fair value determinations do not directly correlate to the Company’s stock price.

Primarily as a result of the decline in the Company’s market capitalization, management believed that there were circumstances evident which indicated that the fair value of our reporting units could be below their carrying amounts. Although the Company’s management strongly believes that the Company’s current market capitalization undervalues the aggregate fair values of our individual reporting units, we concluded that we must heavily consider the market capitalization levels when performing the 2014 annual goodwill impairment test. As such, higher discount rates were applied to forecasted cash flows. As a result of the test, it was determined that the carrying value of the Careers-North America and Internet Advertising & Fees reporting units exceeded their fair values, and the Company recorded a pre-tax goodwill impairment charge of $325,800 during the fourth quarter of 2014 ($263,000 in Careers-North America and $62,800 in Internet Advertising & Fees). On a net of tax basis, the charge was $263,047 after recognizing a tax benefit of $62,753. See Note 5 – Goodwill and Intangible Assets for additional details.

Other intangible assets primarily consist of the value of customer relationships, trade names, resume databases, trademarks and internet domains. Amortizable intangible assets are primarily being amortized on a basis that approximates economic use, over periods ranging from two to ten years.

Indefinite-lived intangible assets are primarily evaluated on an annual basis, generally in conjunction with the Company’s evaluation of goodwill balances. In assessing fair value, we generally utilize a relief from royalty method. If the carrying value of the indefinite-lived intangible assets exceeds the fair value of the asset, the carrying value is written down to fair value in the period identified. The Company recorded an impairment charge of $1,000 on an indefinite-lived intangible asset in the fourth quarter of 2014.

Long-Lived Assets

Long-lived assets, other than goodwill and indefinite lived intangible assets, are evaluated for impairment when events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of these assets and their eventual disposition are less than their carrying amounts. As a result of the decline in our market capitalization, the Company assessed long-lived assets for impairment in the fourth quarter of 2014. It was concluded that the Company’s long-lived assets were not impaired as of December 31, 2014.

Foreign Currency Translation and Transactions

The financial position and results of operations of the Company’s foreign subsidiaries are determined using local currency as the functional currency. Assets and liabilities of these subsidiaries are translated at the exchange rate in effect at each year-end. Income statement accounts are translated at the average rate of exchange prevailing during the year. Translation adjustments arising from the use of differing exchange rates from period to period are included in accumulated other comprehensive income, a component of stockholders’ equity. Gains and losses resulting from other foreign currency transactions, including forward foreign exchange contracts, are included in interest and other, net.

Comprehensive income (loss) is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. The Company’s items of other comprehensive income (loss) are foreign currency translation adjustments, which relate to investments that are permanent in nature, net of applicable income taxes. To the extent that such amounts relate to investments that are permanent in nature, no adjustments for income taxes are made.

The Company uses forward foreign exchange contracts as economic cash flow hedges to offset risks related to foreign currency transactions. These transactions primarily relate to non-functional currency denominated inter-company funding loans and non-functional currency inter-company accounts receivable. The Company does not trade derivative financial instruments for speculative purposes. See Note 13 – Financial Derivative Instruments.

Income Taxes

We utilize the liability method of accounting for income taxes as set forth in ASC 740, Income Taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is more likely than not that some of the deferred tax assets will not be realized. In evaluating our ability to recover our deferred tax assets within the jurisdictions from which they arise, we consider all available positive and negative evidence, including scheduled reversals of taxable temporary items, projected future taxable income, tax planning strategies and recent financial operations.

Assumptions used in making this evaluation require significant judgment and are consistent with the plans and estimates we are using to manage the underlying business. When we determine that we are not able to realize our recorded deferred tax assets, an increase in the valuation allowance is recorded, decreasing earnings in the period in which such determination is made.

We assess our income tax positions and record tax benefits for all years subject to examination based upon our evaluation of the facts, circumstances and information available at the reporting date. For those tax positions where there is greater than 50% likelihood that a tax benefit will be sustained, we have recorded the largest amount of tax benefit that may potentially be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where there is a 50% or less likelihood that a tax benefit will be sustained, no tax benefit has been recognized in the financial statements.

Stock-Based Compensation

We award stock options, non-vested stock, market-based non-vested stock and performance-based non-vested stock to employees, directors and executive officers. We account for stock-based compensation in accordance with ASC 718, Stock Compensation. In accordance with ASC 718, we use the fair-market value of the Company’s common stock on the date the award is approved to measure fair value for service-based and performance-based awards, a Monte Carlo simulation model to determine both the fair value and requisite service period of market-based awards and the Black-Scholes option-pricing model to determine the fair value of stock option awards. Compensation expense for stock option awards and service-based awards is recognized ratably over the requisite service period. For market-based awards, compensation expense is recognized over the requisite service period as derived using a Monte Carlo simulation model. If an award includes both a market and performance or service condition, the requisite service period is adjusted in the event the market condition is satisfied prior to the end of the derived service period. For performance-based awards, compensation expense is recognized based on the probability of achieving the performance conditions associated with the respective shares, as determined by management.

Restructuring and Other Special Charges

The Company accounts for restructuring activities in accordance with ASC 420, Exit or Disposal Cost Obligations. Under the guidance, for the cost of restructuring activities that do not constitute a discontinued operation, the liability for the current and fair value of expected future costs associated with such restructuring activity shall be recognized in the period in which the liability is incurred. We segregate the costs of restructuring activities taken pursuant to a management approved restructuring plan.

Operating Lease Obligations

We recognize a liability for costs to terminate an operating lease obligation before the end of its term when we no longer derive economic benefit from the lease. The liability is recognized and measured at its fair value when we determine that the cease use date has occurred and the fair value of the liability is determined based on the remaining lease rentals due, reduced by estimated sublease rental income that could be reasonably obtained for the property. The estimate of subsequent sublease rental income may change and require future changes to the fair value of the liabilities for the lease obligations.

(Loss) Earnings Per Share Attributable to Monster Worldwide, Inc.

Basic (loss) earnings per share is calculated using the Company’s weighted-average outstanding common shares. When the effects are dilutive, diluted (loss) earnings per share is calculated using the weighted-average outstanding common shares, participating securities and the dilutive effect of all other stock-based compensation awards as determined under the treasury stock method. Certain stock options and stock issuable under employee compensation plans were excluded from the computation of diluted (loss) earnings per share due to their anti-dilutive effect. A reconciliation of shares used in calculating basic and diluted (loss) earnings per share is as follows:

	The year ended December 31,
	2014		2013		2012
Basic weighted-average shares outstanding		88,045		106,947		112,866
Effect of common stock equivalents – stock options and non-vested stock under employee compensation plans(1)		—		966		1,129
Diluted weighted-average shares outstanding(1)		88,045		107,913		113,995
Weighted-average anti-dilutive common stock equivalents(1)		6,937		5,337		7,167

(1) For periods in which losses are presented, dilutive earnings per share calculations do not differ from basic earnings per share because the effects of any potential common stock equivalents are anti-dilutive and therefore not included in the calculation of dilutive earnings per share. For the year ended December 31, 2014, those potential shares totaled 3,046 which are included in the weighted average anti-dilutive common stock equivalents above, in addition to 3,891 of out of the money anti-dilutive common stock equivalents for the year ended December 31, 2014.

On October 22, 2014, the Company consummated an offering of its 3.50% convertible senior notes due 2019 (the “Notes”). Under the treasury stock method, the Notes will generally have a dilutive impact on earnings per share if the Company’s average stock price for the period exceeds approximately $5.33 per share of Monster’s common stock, the conversion price of the Notes. For the period from the consummation of the offering of the Notes through December 31, 2014, the conversion feature of the Notes was anti-dilutive.

In connection with the pricing of the Notes, Monster entered into a capped call transaction which increases the effective conversion price of the Notes, and is designed to reduce potential dilution upon conversion of the Notes. Since the beneficial impact of the capped call is anti-dilutive, it is excluded from the calculation of earnings per share. See Note 14 – Long-Term Debt for additional details.

Recently Issued Accounting Pronouncements

In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, which amends the guidance in Accounting Standard Codification (“ASC”) 205, Presentation of Financial Statements as it relates to reporting discontinued operations. The revised guidance raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the revised definition of a discontinued operation. This amended guidance is to be applied prospectively and is effective for reporting periods (interim and annual) beginning after December 15, 2014, for public companies, with early adoption permitted. The implementation of the amended accounting guidance is not expected to have a material impact on our consolidated financial position or results of operations.

In May 2014, the FASB issued ASU No. 2014-09, which supersedes the revenue recognition guidance in ASC 605, Revenue Recognition. The new guidance clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. GAAP and International Financial Reporting Standards. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes the most current revenue recognition guidance. This amended guidance is effective retrospectively for reporting periods (interim and annual) beginning after December 15, 2016. We are currently assessing the potential impact of this ASU on our consolidated financial position and results of operations.

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CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Accounts receivable, allowance for doubtful accounts	$ 3,295	$ 3,995
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized	800	800
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	1,500,000	1,500,000
Common stock, issued	144,361	141,671
Common stock, outstanding	87,936	92,372
Treasury stock, shares	56,425	49,299
Common Class B
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	39,000	39,000
Common stock, issued	0	0
Common stock, outstanding	0	0

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DECONSOLIDATION OF SUBSIDIARIES

12 Months Ended

Dec. 31, 2014

DECONSOLIDATION OF SUBSIDIARIES

11. DECONSOLIDATION OF SUBSIDIARIES

Prior to January 3, 2014, the Company had a 25% equity investment in a company located in Finland related to a business combination completed in 2001, with the remaining 75% held by Alma Media Corporation (“Alma Media”). Alma Media is a leading media company based in Finland, focused on digital services and publishing in Finland, the Nordic countries, the Baltics and Central Europe. Effective January 3, 2014, the Company expanded its relationship with Alma Media. Monster and Alma Media each contributed several additional entities and businesses into the existing joint venture and formed a significantly larger joint venture where Monster has an equity ownership of 15% with the opportunity to increase ownership up to 20%. The Company also contributed cash of approximately $6,500. Following closing, Monster no longer held a controlling interest in its subsidiaries in Poland, Hungary and the Czech Republic and therefore deconsolidated those subsidiaries effective January 3, 2014. The Company accounts for its investment under the equity method of accounting due to the Company’s ability to exert significant influence over the financial and operating policies of the new joint venture, primarily through our representation on the board of directors.

The Company recorded a gain of $13,647 as a result of the deconsolidation. The gain was measured as the difference between (a) the net fair value of the retained noncontrolling investment and the consideration transferred and (b) the carrying value of the contributed entities’ net assets of approximately $4,200. The fair value of the retained noncontrolling investment was approximately $24,800 which was determined based on the present value of estimated future cash flows and comparable market transactions. Cash flow projections were based on estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used was based on the weighted-average cost of capital adjusted for the relevant risk associated with the business-specific characteristics and the uncertainty related to the business’s ability to execute on the projected cash flows. The Company also recognized $1,819 of accumulated unrealized currency translation loss related to the net assets of the subsidiaries contributed by Monster.

As a result of the deconsolidation, the Company recorded a net gain of $11,828 to Gain on deconsolidation of subsidiaries, net in the first quarter of 2014. See Note 17 – Income Taxes for discussion on the tax impact of the deconsolidation.

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Legal Matters - Additional Information (Detail)	1 Months Ended
	Apr. 30, 2014	Sep. 30, 2013
Loss Contingencies [Line Items]
Name of complainant who filed suit	Selene Communication Technologies LLC	Career Destination Development, LLC
Jurisdiction of the court of law	District of Delaware	District of Kansas

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Revenue by Geographic Region (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Segment Reporting Information [Line Items]
Revenue	$ 186,203	$ 191,220	$ 194,441	$ 198,149	$ 198,718	$ 196,817	$ 200,058	$ 211,986	$ 770,013		$ 807,579		$ 890,392
United States
Segment Reporting Information [Line Items]
Revenue									484,252	[1]	500,746	[1]	517,268	[1]
International
Segment Reporting Information [Line Items]
Revenue									$ 285,761	[1]	$ 306,833	[1]	$ 373,124	[1]

[1] Revenue by geographic region is generally based on the location of the Company's subsidiary.

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Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Jan. 31, 2015	Jun. 30, 2014
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Trading Symbol	MWW
Entity Registrant Name	MONSTER WORLDWIDE, INC.
Entity Central Index Key	0001020416
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		90,817,092
Entity Public Float			$ 567,849,489

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INVESTMENTS

12 Months Ended

Dec. 31, 2014

INVESTMENTS

12. INVESTMENTS

Equity Method Investments

The Company accounts for investments through which it holds a noncontrolling interest and has the ability to exert significant influence using the equity method of accounting, recording its owned percentage of the investment’s net results of operations in loss in equity interests, net, in the Company’s consolidated statement of operations. Such losses reduce the carrying value of the Company’s investment and gains increase the carrying value of the Company’s investment. Dividends paid by the equity investee reduce the carrying amount of the Company’s investment.

As discussed in Note 11 – Deconsolidation of Subsidiaries, through January 3, 2014, the Company had a 25% equity investment in a company located in Finland related to a business combination completed in 2001. The Company received a dividend of $658 in the first quarter of 2013 and $728 in the second quarter of 2012 for this investment. The carrying value of the investment was $220 as of December 31, 2013. Effective January 3, 2014, the Company has a 15% equity investment in Alma Career Oy, a joint venture in Finland, Eastern Europe and the Baltics with Alma Media. The Company received a dividend of $199 in the second quarter of 2014 for this investment. The carrying value of the investment was $20,404 as of December 31, 2014, and was recorded on the consolidated balance sheet as a component of investment in unconsolidated affiliates in the Company’s consolidated balance sheets.

In 2008, the Company acquired a 50% equity interest in a company located in Australia. In the years ended December 31, 2014, 2013 and 2012, the Company expended an additional $1,331, $1,897, and $2,077, respectively, for additional working capital requirements relating to the Australian investment. The carrying value of the investment was $296 and $0 as of December 31, 2014 and 2013, respectively, and was recorded on the Company’s consolidated balance sheets as a component of investment in unconsolidated affiliates.

Income (loss) in equity interests, net are as follows by equity investment:

	The year ended December 31,
	2014			2013			2012
Alma Career Oy	$	596		$	—		$	—
Finland		—			343			573
Australia		(674	)		(1,251	)		(1,654	)
Loss in equity interests, net	$	(78	)	$	(908	)	$	(1,081	)

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Stockholders' Equity - Additional Information (Detail) (USD $) In Thousands, except Share data, unless otherwise specified	0 Months Ended		12 Months Ended			18 Months Ended	20 Months Ended
	Apr. 30, 2013	Oct. 25, 2011	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Apr. 25, 2013	Dec. 31, 2014	Apr. 30, 2013	Oct. 25, 2011
Stockholders Equity Note [Line Items]
Stock repurchase program, authorized amount	$ 200,000	$ 250,000						$ 200,000	$ 250,000
Stock repurchase program, expiration date	Apr. 30, 2015	Apr. 25, 2013
Shares repurchased under repurchase program			7,125,988	0	8,481,453	13,986,349	27,717,428
Shares repurchased average price per share			$ 7.29		$ 7.72	$ 7.67	$ 5.73
Shares repurchased under repurchase program, value			52,070	107,167	65,611
Stock repurchase program, remaining authorized repurchase amount			41,317				41,317
Share Repurchase Program
Stockholders Equity Note [Line Items]
Shares repurchased under repurchase program, value			$ 51,927				$ 158,683
Equity Incentive Plan 2008
Stockholders Equity Note [Line Items]
Shares available for future grants			15,685,000				15,685,000
Share-based Compensation Arrangement by Share-based Payment Award, Description			The total number of shares of the Company’s Common Stock that may be granted under the 2008 Plan, as amended, is the sum of (i) 15,685,000 shares, and (ii) the number of shares subject to outstanding awards under the 1999 Plan that on or after April 16, 2008 either (a) cease for any reason to be subject to such awards (other than by reason of exercise or settlement of the awards to the extent they are exercised for or settled in vested and nonforfeitable shares of Common Stock) or (b) are surrendered by participants under the 1999 Plan or are retained by the Company to pay all or a portion of the exercise price and/or withholding taxes relating to such awards.
Equity Incentive Plan 2008 | Maximum Base Amount
Stockholders Equity Note [Line Items]
Shares available for future grants			8,223,673				8,223,673

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Operations by Reportable Segment (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Revenue	$ 186,203	$ 191,220	$ 194,441	$ 198,149	$ 198,718	$ 196,817	$ 200,058	$ 211,986	$ 770,013	$ 807,579	$ 890,392
Operating (loss) income	(329,877)	3,338	4,713	(470)	9,984	14,255	8,107	845	(322,296)	33,191	32,152
Depreciation and amortization									48,643	59,156	64,279
Restructuring and Other Special Charges							6,828	13,167		19,995	40,358
Goodwill impairment	325,800								325,800		262,650
Careers North America
Segment Reporting Information [Line Items]
Goodwill impairment	263,000								263,000
Internet Advertising & Fees
Segment Reporting Information [Line Items]
Goodwill impairment	62,800								62,800
Operating Segments
Segment Reporting Information [Line Items]
Operating (loss) income									(272,047)	70,905	73,483
Depreciation and amortization									47,144	58,432	63,570
Operating Segments | Careers North America
Segment Reporting Information [Line Items]
Revenue									436,946	446,274	462,962
Operating (loss) income									(198,294)	65,009	42,686
Depreciation and amortization									24,381	31,204	35,446
Restructuring and Other Special Charges										9,537	20,970
Goodwill impairment									263,000
Operating Segments | Careers International
Segment Reporting Information [Line Items]
Revenue									269,064	288,623	351,130
Operating (loss) income									(25,129)	(18,596)	13,076
Depreciation and amortization									19,174	22,874	22,181
Restructuring and Other Special Charges										7,866	15,990
Operating Segments | Internet Advertising & Fees
Segment Reporting Information [Line Items]
Revenue									64,003	72,682	76,300
Operating (loss) income									(48,624)	24,492	17,721
Depreciation and amortization									3,589	4,354	5,943
Restructuring and Other Special Charges										341	2,123
Goodwill impairment									62,800
Corporate
Segment Reporting Information [Line Items]
Operating (loss) income									(50,249)	(37,714)	(41,331)
Depreciation and amortization									1,499	724	709
Restructuring and Other Special Charges										$ 2,251	$ 1,275

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Revenue	$ 770,013		$ 807,579		$ 890,392
Salaries and related	413,143		379,406		408,305
Office and general	206,974		205,397		226,601
Marketing and promotion	146,392		169,590		188,326
Restructuring and Other Special Charges			19,995		40,358
Goodwill impairment	325,800				262,650
Recovery of restitution award from former executive					(5,350)
Total operating expenses	1,092,309		774,388		858,240
Operating (loss) income	(322,296)		33,191		32,152
Gain on deconsolidation of subsidiaries, net	11,828
Interest and other, net	(8,552)		(5,770)		(5,883)
(Loss) income before income taxes and loss in equity interests	(319,020)		27,421		26,269
(Benefit from) provision for income taxes	(35,291)		23,004		(32,978)
Loss in equity interests, net	(78)		(908)		(1,081)
(Loss) income from continuing operations	(283,807)		3,509		58,166
Loss from discontinued operations, net of tax			(3,798)		(316,886)
Net loss	(283,807)		(289)		(258,720)
Net income attributable to noncontrolling interest	5,482		193
Net (loss) income attributable to Monster Worldwide, Inc.	(289,289)		(482)		(258,720)
Basic (loss) earnings per share attributable to Monster Worldwide, Inc.:
(Loss) income from continuing operations	$ (3.29)		$ 0.03		$ 0.52
Loss from discontinued operations, net of tax			$ (0.04)		$ (2.81)
Basic loss per share	$ (3.29)	[1]		[1]	$ (2.29)	[1]
Diluted (loss) earnings per share attributable to Monster Worldwide, Inc.:
(Loss) income from continuing operations	$ (3.29)		$ 0.03		$ 0.51
Loss from discontinued operations, net of tax			$ (0.04)		$ (2.78)
Diluted loss per share	$ (3.29)	[1]		[1]	$ (2.27)	[1]
Weighted average shares outstanding:
Basic	88,045		106,947		112,866
Diluted	88,045	[2]	107,913	[2]	113,995	[2]
Net loss	(283,807)		(289)		(258,720)
Other comprehensive loss:
Foreign currency translation adjustments, net	(56,811)		(23,859)		23,419
Comprehensive loss	(340,618)		(24,148)		(235,301)
Comprehensive income attributable to noncontrolling interest	2,794		128
Comprehensive loss attributable to Monster Worldwide, Inc.	$ (343,412)		$ (24,276)		$ (235,301)

[1] (Loss) earnings per share may not add in certain periods due to rounding

[2] For periods in which losses are presented, dilutive earnings per share calculations do not differ from basic earnings per share because the effects of any potential common stock equivalents are anti-dilutive and therefore not included in the calculation of dilutive earnings per share. For the year ended December 31, 2014, those potential shares totaled 3,046 which are included in the weighted average anti-dilutive common stock equivalents above, in addition to 3,891 of out of the money anti-dilutive common stock equivalents for the year ended December 31, 2014.

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RESTRUCTURING AND OTHER SPECIAL CHARGES

12 Months Ended

Dec. 31, 2014

RESTRUCTURING AND OTHER SPECIAL CHARGES

6. RESTRUCTURING AND OTHER SPECIAL CHARGES

November 2012 Restructuring

On November 8, 2012, the Company announced actions designed to concentrate resources on core businesses within North America and key European and Asian markets with increased spending in marketing and sales. The actions subsequently included (i) the sale of the Careers-China business which was completed on February 5, 2013, (ii) the exiting of the business operations in Latin America and Turkey and (iii) a strategic restructuring inclusive of a reduction in force, office consolidations and impairment of certain assets. See Note 7 – Discontinued Operations, for more information relating to the sale of the Careers-China business and the exiting of our businesses in Latin America and Turkey.

Through December 31, 2013, the Company notified approximately 400 associates in North America and Europe (excluding discontinued operations). The Company does not expect to incur significant additional charges in future periods relating to this program. The following table displays a roll forward of the November 2012 Restructuring and other special charges and related liability balances, excluding discontinued operations:

	Accrual at December 31, 2013		Expense		Cash Payments			Non-Cash Utilization		Accrual at December 31, 2014
Workforce reduction	$	1,057	$	—	$	(648	)	$	—	$	409
Consolidation of office facilities		4,063		—		(1,535	)		—		2,528
Other costs and professional fees		128		—		(124	)		—		4
Total	$	5,248	$	—	$	(2,307	)	$	—	$	2,941

	Accrual at December 31, 2012		Expense		Cash Payments			Non-Cash Utilization			Accrual at December 31, 2013
Workforce reduction	$	11,902	$	9,645	$	(18,669	)	$	(1,821	)	$	1,057
Consolidation of office facilities		—		6,028		(1,965	)		—			4,063
Impairment of assets		—		3,494		—			(3,494	)		—
Other costs and professional fees		83		828		(783	)		—			128
Total	$	11,985	$	19,995	$	(21,417	)	$	(5,315	)	$	5,248

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GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2014

GOODWILL AND INTANGIBLE ASSETS

5. GOODWILL AND INTANGIBLE ASSETS

The Company tests the recorded amount of goodwill for recovery on an annual basis in the fourth quarter of each fiscal year. Goodwill is tested more frequently if indicators of impairment exist. The goodwill impairment test is performed at the reporting unit level. Prior to the sale of Careers-China on February 5, 2013, the Company had four reporting units which were equivalent to our four operating segments: Careers-North America, Careers-International, Careers-China, presented for all impacted periods as a discontinued operation, and Internet Advertising & Fees. Following the sale of the Careers-China business, the Company has three reporting units which are equivalent to our three operating segments: Careers-North America, Careers-International, and Internet Advertising & Fees.

In determining if goodwill is impaired, we estimate the fair value of the reporting unit and compare it to the carrying value of the assets and liabilities of that reporting unit. The Company determines the fair value of its reporting units using a weighting of fair values derived from the income approach and the market approach, depending on the availability of relevant market comparable information. Under the income approach, the Company calculates the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management’s estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used is based on the weighted-average cost of capital adjusted for the relevant risk associated with business-specific characteristics and the uncertainty related to the business’s ability to execute on the projected cash flows. Under the market approach, the Company estimates the fair value based on market multiples of cash flows and earnings derived from comparable publicly-traded companies with similar operating and investment characteristics as the reporting unit and considering a reasonable control premium. The weighting of the fair value derived from the market approach differs for each reporting unit depending on the level of comparability of these publicly-traded companies to the reporting unit. Due to the inherent uncertainty involved in making these estimates, actual results could differ from those estimates.

As a corroborative source of information, the Company reconciles the estimated aggregate fair values of its reporting units to within a reasonable range of its market capitalization, which includes an assumed control premium (an adjustment reflecting an estimated fair value on a control basis) to verify the reasonableness of the fair value of its reporting units obtained through the aforementioned methods. The control premium is estimated based upon control premiums observed in comparable market transactions. As none of our reporting units are publicly-traded, individual reporting unit fair value determinations do not directly correlate to the Company’s stock price. We monitor changes in our share price to ensure that our reconciled market capitalization continues to exceed or is not significantly below the carrying value of our net assets. In the event that our reconciled market capitalization does decline below its book value, we consider the length and severity of the decline and the reason for the decline when assessing whether potential goodwill impairment exists. Further, if a reporting unit does not appear to be achieving the projected growth plan used in determining its fair value, we will reevaluate the reporting unit for potential goodwill impairment based on revised projections, as available.

In the fourth quarter of 2014, primarily due to the decline of our market capitalization and the implications such decline had on the carrying value of our goodwill, which resulted in higher discount rates applied to forecasted cash flows, management concluded that there were circumstances evident which indicated the fair value of our reporting units could be below their carrying amounts. Although the Company’s management strongly believes that the Company’s current market capitalization undervalues the aggregate fair values of our individual reporting units, we concluded that we must heavily consider the market capitalization levels when performing the 2014 annual impairment test.

With the assistance of a third party valuation firm, we completed the first step of the impairment evaluation process in comparing the fair value of our reporting units to their respective carrying values. The Careers-International reporting unit had a fair value that substantially exceeded its carrying value. The Careers-North America and Internet Advertising & Fees reporting units had carrying values which exceeded the respective fair values of the reporting units and therefore, the Company was required to complete the second step of the impairment evaluation for those reporting units.

The second step of the impairment evaluation calculates the implied fair value of the goodwill, which is compared to the carrying value of goodwill. The implied fair value of goodwill is calculated by valuing all identifiable assets and liabilities of the reporting units with potential impairment, as indicated in step one, at the hypothetical fair value, assuming the reporting units had been acquired in a business combination. The excess fair value of the reporting units over the fair value of their identifiable assets and liabilities is the implied fair value of goodwill. Based upon the calculation of the implied fair value of goodwill, it was determined that the carrying value of goodwill exceeded the implied fair value of goodwill for the Careers-North America and Internet Advertising & Fees reporting units, therefore the Company recorded a pre-tax goodwill impairment charge of $325,800 during the fourth quarter of 2014 ($263,000 in Careers-North America and $62,800 in Internet Advertising & Fees). On a net of tax basis, the charge was $263,047 after recognizing a tax benefit of $62,753. See Note 17 – Income Taxes for discussion on the tax impact of the impairment charge.

During the third quarter of 2012, the Company performed a qualitative analysis for the Careers-China reporting unit and it was determined that the Careers-China reporting unit was more likely than not to have a fair value less than the unit’s carrying amount. The conclusion was based on the recent financial performance of Careers-China compared to previously forecasted results, updated projections of future profitability as well as indicative offers from potential buyers of the Careers-China business (see Note 7 – Discontinued Operations). Accordingly, the Company performed a step one fair value evaluation of Careers-China utilizing both a discounted cash flow analysis and the indicative offers from potential buyers of the Careers-China business. The result of this fair value analysis was that the fair value of the reporting unit was less than the carrying value and a step two analysis was required to determine the amount of goodwill impairment, if any. The Company performed the step two evaluation and determined that goodwill for the Careers-China reporting unit was impaired and recorded a goodwill impairment charge for Careers-China of $216,221. In the fourth quarter of 2012, the Company impaired the remaining goodwill balance of the Careers-China business and recorded an additional $46,429 impairment, leaving the Careers-China business with no goodwill.

A summary of changes in goodwill by reportable segment are as follows:

	Careers- North America			Careers- International			Internet Advertising & Fees			Total
Balance as of December 31, 2013:
Goodwill	$	598,114		$	408,464		$	151,590		$	1,158,168
Accumulated impairment losses		—			(262,650	)		—			(262,650	)
Net goodwill as of December 31, 2013		598,114			145,814			151,590			895,518
Acquisition activity		25,061			—			—			25,061
Write-off in connection with deconsolidation of subsidiaries		—			(4,057	)		—			(4,057	)
Impairment		(263,000	)		—			(62,800	)		(325,800	)
Translation and other adjustments, net		—			(50,101	)		—			(50,101	)
Balance as of December 31, 2014:
Goodwill		623,175			354,306			151,590			1,129,071
Accumulated impairment losses		(263,000	)		(262,650	)		(62,800	)		(588,450	)
Net goodwill as of December 31, 2014	$	360,175		$	91,656		$	88,790		$	540,621

The Company’s intangible assets, excluding the assets of the discontinued operations, consisted of the following:

	December 31, 2014					December 31, 2013
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization			Weighted Average Amortization Period (Years)
Customer relationships	$	48,856	$	(47,785	)	$	49,808	$	(48,895	)	2
Trademarks/Internet domains		14,297		—			15,240		—		Indefinite lived
Trade Names		7,786		(2,181	)		10,600		(3,926	)	3
Patents		8,428		(584	)		718		(52	)	5
Other		32,986		(31,300	)		29,798		(29,233	)	2
Total	$	112,353	$	(81,850	)	$	106,164	$	(82,106	)

The Company recorded amortization expense, excluding discontinued operations, of $2,624 , $9,234 and $12,353 relating to its intangible assets for the years ended December 31, 2014, 2013 and 2012, respectively. In addition, the Company recorded an impairment charge of $1,000 on an indefinite-lived intangible asset in the fourth quarter of 2014.

Based on the carrying value of identified intangible assets recorded as of December 31, 2014, and assuming no subsequent impairment of the underlying assets, the estimated annual amortization expense for the next five years is as follows:

	2015		2016		2017		2018		2019
Estimated amortization expense	$	2,974	$	2,640	$	2,631	$	2,534	$	1,722

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INCOME TAXES

12 Months Ended

Dec. 31, 2014

INCOME TAXES

17. INCOME TAXES

The components of (loss) income before income taxes and loss in equity interests are as follows:

	Year Ended December 31,
	2014			2013			2012
Domestic	$	(326,935	)	$	31,291		$	11,833
Foreign		7,915			(3,870	)		14,436
(Loss) income before income taxes and loss in equity interests	$	(319,020	)	$	27,421		$	26,269

Income taxes relating to the Company’s operations are as follows:

	Years Ended December 31,
	2014			2013			2012
Current income taxes:
U.S. Federal	$	2,018		$	2,814		$	(40,306	)
State and local		(692	)		(1,357	)		(1,668	)
Foreign		6,801			(7,027	)		18,810
Total current income taxes		8,127			(5,570	)		(23,164	)
Deferred income taxes:
U.S. Federal		(35,661	)		24,513			(2,495	)
State and local		(9,622	)		5,766			(2,975	)
Foreign		1,865			(1,705	)		(4,344	)
Total deferred income taxes		(43,418	)		28,574			(9,814	)
(Benefit from) provision for income taxes	$	(35,291	)	$	23,004		$	(32,978	)

The tax effects of temporary differences that give rise to the Company’s deferred tax assets and liabilities are as follows:

	December 31,
	2014			2013
Deferred tax assets:
Allowance for doubtful accounts	$	941		$	1,310
Accrued expenses and other liabilities		9,731			6,038
Tax loss carry-forwards		71,916			67,892
Tax credits		55,312			48,843
Non-cash stock based compensation expense		6,552			4,379
Valuation allowance		(69,807	)		(48,906	)
Deferred tax assets		74,645			79,556
Deferred tax liabilities:
Foreign investments		(12,166	)		(9,606	)
Property and equipment		(25,018	)		(24,956	)
Goodwill and intangibles		(11,199	)		(60,941	)
Deferred tax liabilities		(48,383	)		(95,503	)
Net deferred tax assets (liabilities)	$	26,262		$	(15,947	)

As of December 31, 2014 and 2013, net current deferred tax assets were $1,995 and $627, respectively, net current deferred tax liabilities were $0 and $49, respectively, net non-current deferred tax assets were $24,267 and $20,405, respectively, and net non-current deferred tax liabilities were $0 and $36,930, respectively.

At December, 31, 2014, the Company has United States Federal net operating tax losses of approximately $35,730 which it expects to carry forward as no carry-back refunds are available. The losses expire in stages beginning in 2031. The Company has U.S. foreign tax credit carryovers and research and experimentation tax credit carryovers of $51,580 and $3,646, respectively, that expire in stages beginning in 2016 through 2024 and 2029 through 2034, respectively. The Company has net operating loss carry-forwards in various foreign countries around the world of approximately $226,000, approximately $172,000 of which have no expiration date and $54,000 of which expire in stages in years 2015 through 2029. The Company realized a cash benefit relating to the use of its tax loss carry-forwards of $0 and $25,122 in 2014 and 2013, respectively.

Utilization of our net operating losses and tax credit carry-forwards may be subject to substantial annual limitations due to the ownership change limitations provided by the United States Internal Revenue Code. Such annual limitations could result in the expiration of the net operating loss and tax credit carry-forwards before their utilization. The events that may cause ownership changes include, but are not limited to, a cumulative stock ownership change of greater than 50% over a three year period.

Realization of the Company’s net deferred tax assets is dependent upon the Company generating sufficient taxable income in future years in the appropriate tax jurisdictions to obtain a benefit from the reversal of deductible temporary differences and from attribute carry-forwards which include losses and tax credits. In assessing the need for a valuation allowance, the Company has considered all positive and negative evidence including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial performance. Since this evaluation requires considerable judgment and consideration of events that may occur in future years, our conclusion could be materially different if certain of our expectations do not occur. To the extent actual results are different, it may require a material charge to income in the period in which such events occur.

The Company has concluded that it is more likely than not that certain deferred tax assets will not be realized, principally net operating losses in certain foreign jurisdictions, and a portion of the carryovers of foreign tax credits. Determining the amount of required valuation allowances necessitates significant judgment. We review utilization of tax assets on a jurisdiction by jurisdiction basis and consider such factors as recent operating history and future business forecasts. In making this assessment we give greater weight to evidence that is objectively verifiable comprising primarily of past operating history and reversing taxable differences. Operations in certain countries have a long history of continual tax losses, so a valuation allowance has been recorded on all of their deferred tax assets.

In order to realize its deferred tax asset for foreign tax credit carryovers the Company is required to have sufficient U.S. taxable income, and sufficient “foreign source” income as defined by the U.S. tax code, regulations and interpretations thereunder. In evaluating future realization of deferred tax assets for foreign tax credit carryovers the Company forecasts future income levels and characterization thereof. The Company prepares tax credit realization models using varying scenarios and assumptions, and considers qualifying tax planning strategies. At December 31, 2014, the total carryover over for foreign tax credits is $51,580. The Company believes it is more likely than not to not realize approximately $21,000 of foreign tax credit carryovers before their expiration, thus in 2014 the Company recorded an increase to the valuation allowance by approximately $18,000 ($16,000 of which was recorded in the fourth quarter of 2014). The portion of the total recorded valuation allowances recorded at December 31, 2014 and 2013 related to this item was approximately $21,000 and $3,000 respectively.

The income tax provision from continuing operations was increased by $25,123, $5,221 and $5,991 in 2014, 2013 and 2012, respectively, due to valuation allowances, $21,347, $1,691 and $3,000 of which related to deferred tax assets that existed at the beginning of the respective years. The valuation allowance decreased by $4,222 in 2014 due to expiration of losses with full valuation allowances and deconsolidation of certain subsidiaries with tax valuation allowances (see Note 11 – Deconsolidation of Subsidiaries). The valuation allowance decreased $4,472 in 2013 primarily due to the effect of enacted reductions in the tax rates on deferred tax assets with a full valuation allowance, or expiration of tax losses with a full valuation allowance, and was increased by $3,379 in 2012 due reversals of unrecognized tax benefits with full valuation allowances. These items did not result in a net charge or benefit to the tax provision.

Income taxes related to the Company’s (loss) income before income taxes and loss in equity interests differ from the amount computed using the Federal statutory income tax rate as follows:

	Year Ended December 31,
	2014			2013			2012
Income taxes at Federal statutory rate	$	(111,655	)	$	9,598		$	9,195
State income taxes, net of Federal income tax effect		(13,767	)		1,152			217
Foreign tax rate differences		308			3,510			1,655
Change in valuation allowance		20,901			749			9,370
Reversals of accrued income tax		(1,143	)		(12,391	)		(28,814	)
Interest expense on tax liabilities, net of reversals		710			(189	)		(3,517	)
Earnings not indefinitely reinvested		—			676			1,303
Non-deductible compensation and other expenses		952			1,506			1,095
Effect of foreign partnerships and joint venture		4,090			—			—
Tax effect of restructuring items		—			—			(21,754	)
Effect of intercompany loans		392			250			(1,728	)
Non-deductible goodwill impairment		65,938
Research and experimentation tax credit		(2,017	)
Sale of noncontrolling interest		—			18,143			—
(Benefit from) provision for income taxes	$	(35,291	)	$	23,004		$	(32,978	)

For the years ended December 31, 2014, 2013 and 2012, the Company has recorded a tax (benefit) provision in discontinued operations of $0, ($6,407) and $1,624, respectively. The 2012 amount includes a provision of $9,710 for valuation allowances on recorded deferred tax assets relating to Careers-China (see Note 7 – Discontinued Operations). In the years ended December 31, 2014, 2013 and 2012, the discontinued operation tax provision include tax benefits of $0, $540 and $8,086, respectively, on certain tax losses in discontinued operations that pass through to continuing operations due to the form of ownership.

In the fourth quarter of 2014, the Company recorded a pre-tax charge for impairment of goodwill in the amount of $325,800. The Company recorded a deferred tax benefit of $62,753 with respect to the portion of impaired goodwill which is deductible for tax purposes (see Note 5 – Goodwill and Intangible Assets).

In 2014, the tax provision was increased by $5,543 due to a gain of $11,828 related to the deconsolidation of the Company’s subsidiaries in Poland, Hungary and the Czech Republic (see Note 11 – Deconsolidation of Subsidiaries).

In November 2013, the Company entered in to an agreement to sell a 49.99% interest in JobKorea Ltd., its wholly owned subsidiary in South Korea, to H&Q Korea for an aggregate purchase price of $90,000 (see Note 3 – Noncontrolling Interest). The transaction, which is accounted for as a sale of a noncontrolling interest, resulted in a sale for tax purposes. A tax provision of $30,853 was recorded on the transaction of which $12,709 was charged to stockholder’s equity and $18,143 was charged to the continuing operations tax provision. The Company utilized its existing U.S. tax operating loss carryovers to offset the tax liability that would otherwise be due on the transaction. As a result of the sale, the remaining 50.01% investment retained by the Company is characterized as a partnership for U.S. tax reporting purposes. Accordingly, the Company’s share of earnings is taxable in the United States, as if distributed. In 2014, 2013 and 2012, the Company repatriated approximately $3,121, $13,385 and $38,000, respectively, of cash from its subsidiary in South Korea.

A provision has not been made for United States or additional foreign taxes on substantially all undistributed earnings of foreign subsidiaries as the Company plans to utilize these undistributed earnings to finance expansion or operating requirements of subsidiaries outside of the United States or due to local country restrictions. Such earnings will continue to be indefinitely reinvested but could become subject to additional tax if they were remitted as dividends or were loaned to the Company or United States affiliates, or if the Company should sell its stock in the foreign subsidiaries. Due to various complexities in computing the residual U.S. tax liability, particularly when the timing or form of future repatriations has not been determined, it is not practicable to determine the amount of additional tax, if any, that might be payable on undistributed foreign earnings. The Company estimates its undistributed foreign earnings for which deferred taxes have not been provided are approximately $26,000.

As of December 31, 2014 and 2013, the Company has recorded a liability for $54,636 and $53,078, respectively, which includes unrecognized tax benefits of $30,389 and $30,005, respectively, and estimated accrued interest and penalties of $24,247 and $23,074, respectively. Interest and penalties related to underpayment of income taxes are classified as a component of the (benefit from) provision for income taxes in the Company’s consolidated statement of operations. Interest accrued on unrecognized tax benefits included in the 2014, 2013 and 2012 income tax provision in the statement of operations was $2,695, $2,932, and $3,794, respectively. In 2014, 2013 and 2012 interest expense was recorded net of reversals of prior years’ interest and penalties of $1,523, $3,248, and $9,609, respectively. The net of tax effect of interest, penalties and reversals was a charge of $710 in the year ended December 31, 2014, and a credit of $189 and $3,517 in the years ended December 31, 2013 and 2012, respectively.

A reconciliation of the total amount of unrecognized tax benefits is as follows:

	2014			2013			2012
Balance, beginning of period	$	30,005		$	40,075		$	76,818
Gross increases: tax positions taken in prior periods		—			515			8,380
Gross decreases: tax positions taken in prior periods		(1,040	)		(13,042	)		(8,943	)
Gross increases: tax positions taken in current year		2,911			2,457			3,114
Gross decreases: tax positions taken in current year		—			—			—
Gross decreases: settlement of tax examinations		—			—			(39,294	)
Gross decreases: lapse of statute of limitation		(1,487	)		—			—
Balance, end of period	$	30,389		$	30,005		$	40,075

If the unrecognized tax benefits at December 31, 2014, 2013 and 2012 were recognized in full, $30,389, $30,005, and $40,075, respectively, would impact the effective tax rate.

During 2014, the Company recognized previously unrecognized tax positions of $2,525 which on a net of tax basis favorably impacted the effective rate by $1,143, primarily as a result of lapses of statutes of limitations. The Company also reversed accrued interest on unrecognized tax positions of $1,523, which favorably impacted the effective rate by $921. The tax matters reversed relate primarily to allocation of income among tax jurisdictions.

During 2013, the Company recognized previously unrecognized tax positions of $12,979 which on a net of tax basis favorably impacted the effective rate by $12,391 as a result of settlements of tax examinations and lapses of statutes of limitations. The Company also reversed accrued interest on unrecognized tax positions of $3,248, which favorably impacted the effective rate by $1,963. The tax matters reversed relate primarily to characterization of certain intercompany loans for tax purposes and allocation of income among jurisdictions.

During 2012, the Company completed a tax examination with the United States Internal Revenue Service which covered the tax years 2006 through 2009. As a result of settlement of this tax examination the Company recognized previously unrecognized tax benefits of $38,024 and reversed an asset for recoverable foreign taxes of $7,956 both of which, on a net of tax basis, impacted the effective rate by $29,059. The Company also recognized previously unrecognized tax benefits of $5,680 which were offset in full by a valuation allowance and had no net effect on the tax provision. The Company also reversed accrued interest related to unrecognized tax benefits of $8,034 which, on a net of tax basis, impacted the effective rate by $4,860. The tax matters recognized related to the allocation of income among tax jurisdiction and the benefits related to certain tax net operating losses. In addition, the Company settled certain state and local tax examinations and revised certain estimates to prior accrued state liabilities. As a result, the Company recognized $1,806 of previously unrecognized tax benefits and reversed accrued interest related to these unrecognized benefits of $1,575 which together on a net of tax basis impacted the effective tax rate by $2,128. Additionally, the Company increased its tax provision for unrecognized tax benefits of $7,100 relating to an ongoing international tax examination. The total effect on the tax provision for the year ended December 31, 2012, due to adjustments of prior accruals and settlement of tax examinations, was a tax benefit of $28,814, a benefit for reversal of interest of $5,814, and a provision for recording a valuation allowance of $5,680.

The Company conducts business globally and as a result, the Company or one or more subsidiaries is subject to United States federal income taxes and files income tax returns in various states and approximately 40 foreign jurisdictions. In the normal course of business, the Company is subject to tax examinations by taxing authorities including major jurisdictions such as Germany, United Kingdom, and the United States as well as other countries in Europe and the Asia/Pacific region. The Company is generally no longer subject to examinations with respect to returns that have been filed for years prior to 2010 in Germany, 2012 in the United Kingdom, and 2011 in the United States. Tax years are generally considered closed from examinations when the statute of limitations expires. The United States Internal Revenue Service has recently completed an income tax examination through tax year 2011 which resulted in no material changes.

The Company estimates that it is reasonably possible that unrecorded tax benefits may be reduced by an amount ranging from $0 to $15,000 in the next twelve months due to expirations of statutes of limitations or settlement of examinations. The tax matters relate to allocation of income between tax jurisdictions and the amount of tax loss carryovers.

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FINANCIAL DERIVATIVE INSTRUMENTS

12 Months Ended

Dec. 31, 2014

FINANCIAL DERIVATIVE INSTRUMENTS

13. FINANCIAL DERIVATIVE INSTRUMENTS

The Company uses forward foreign exchange contracts as economic cash flow hedges to offset risks related to foreign currency transactions. These transactions primarily relate to non-functional currency denominated inter-company funding loans and non-functional currency inter-company accounts receivable.

The fair value position (recorded in interest and other, net, in the consolidated statements of operations and comprehensive loss) of our derivatives are as follows:

	December 31, 2014
	Component of	Notional Amount		Maturity Dates		Fair Value
Designated as Hedges under ASC 815
None		$	—			$	—
Not Designated as Hedges under ASC 815
Foreign currency exchange forwards	Prepaid and other		15,902		January 2015		74
Foreign currency exchange forwards	Accrued expenses and other current liabilities		25,378		January 2015		(265	)
Total Derivative Instruments		$	41,280			$	(191	)
	December 31, 2013
	Component of	Notional Amount		Maturity Dates		Fair Value
Designated as Hedges under ASC 815
None		$	—			$	—
Not Designated as Hedges under ASC 815
Foreign currency exchange forwards	Prepaid and other		43,265		January 2014		255
Foreign currency exchange forwards	Accrued expenses and other current liabilities		4,757		January 2014		(9	)
Total Derivative Instruments		$	48,022			$	246

The amounts of unrealized and realized net gains and changes in the fair value of our derivative positions are as follows:

	Location of Realized Net Gains and Changes in the Fair Value of Forward Contracts	Amount of Realized Net Gains and Changes in the Fair Value of Forward Contracts
		The year ended December 31,
		2014		2013		2012
Foreign currency exchange forwards	Interest and Other, net	$	48	$	644	$	2,060
	Discontinued Operations		—		160		—
		$	48	$	804	$	2,060

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Income Taxes - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		12 Months Ended			3 Months Ended		1 Months Ended
	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2012	Sep. 30, 2012	Dec. 31, 2013	Nov. 30, 2013
Income Tax [Line Items]
Net current deferred tax assets	$ 1,995		$ 1,995	$ 627				$ 627
Net current deferred tax liabilities	0		0	49				49
Net non-current deferred tax assets	24,267		24,267	20,405				20,405
Net non-current deferred tax liabilities	0		0	36,930				36,930
U.S. Federal net operating Loss carryforwards	35,730		35,730
Foreign tax credit carryovers	51,580		51,580
Research and experimentation tax credit carryovers	3,646		3,646
Net operating Loss carryforwards	226,000		226,000
Realized a cash benefit relating to the use of its tax loss carry-forwards	0		0	25,122				25,122
Deferred tax asset valuation allowance related to income tax			25,123	5,221	5,991
Provision for valuation allowances on deferred tax assets	69,807		69,807	48,906				48,906
Recorded tax benefit (provision) in discontinued operations			0	(6,407)	1,624
Included tax benefits discontinued operation tax provision			0	540	8,086
Goodwill impairment, pre-tax	325,800		325,800		262,650
Deferred tax benefit	62,753		62,753
Increase in tax provision due to gain related to deconsolidation of subsidiaries			5,543
Net gain on deconsolidation		11,828	11,828
Sale of non-controlling interest tax provision charted to continuing operations				(18,143)
Earnings repatriated from its subsidiary in South Korea			3,121	13,385	38,000
Estimated amount of undistributed foreign earnings	26,000		26,000
Long-term income taxes payable	54,636		54,636	53,078				53,078
Liabilities for unrecognized tax benefits	30,389		30,389	30,005				30,005
Unrecognized tax benefits, estimated accrued interest and penalties	24,247		24,247	23,074				23,074
Interest accrued on unrecognized tax benefits			2,695	2,932	3,794
Reversals of prior years income tax penalties and interest expense			1,523	3,248	9,609
Net of tax effect of interest, penalties and reversals			710	189	3,517
Impact on effective tax rate	30,389		30,389	30,005	40,075	40,075		30,005
Unrecognized tax benefits due to settlement of tax examination and and lapses of statutes of limitations			2,525	12,979
Settlement of tax examination and and lapses of statutes of limitations, impact on effective tax rate			1,143	12,391
Reversal of accrued interest related to unrecognized tax benefits			1,523	3,248
Reversal of accrued interest, impact on effective tax rate			921	1,963
Unrecognized tax benefit by offset in full by valuation allowance					5,680
Unrecognized tax benefits due to settlement of tax examination					39,294
Increase in tax provision				14,355	43,193
Income tax examination benefit for reversal of tax expense from settlement with taxing authority					28,814
Income tax examination benefit for reversal of accrued interest from settlement with taxing authority					5,814
Income tax examination benefit for provision for valuation allowance					5,680
Reasonably possible reduction in unrecognized tax benefits in the next twelve months, minimum	0		0
Reasonably possible reduction in unrecognized tax benefits in the next twelve months, maximum	(15,000)		(15,000)
Careers - China
Income Tax [Line Items]
Provision for valuation allowances on deferred tax assets					9,710	9,710
Goodwill impairment, pre-tax						46,429	216,221
JobKorea Ltd.
Income Tax [Line Items]
Percentage ownership interest sold									49.99%
Cash consideration received upon sale of interest in subsidiary								90,000	90,000
Sale of non-controlling interest total tax provision									30,853
Sale of non-controlling interest tax provision charged to stockholder's equity									12,709
Sale of non-controlling interest tax provision charted to continuing operations									18,143
Percentage ownership interest retained by the company									50.01%
Deferred Tax Assets That Existed At Beginning of Year
Income Tax [Line Items]
Deferred tax asset valuation allowance related to income tax			21,347	1,691	3,000
Unrecognized Tax Benefit
Income Tax [Line Items]
Deferred tax asset valuation allowance related to income tax			(4,222)	(4,472)	3,379
United States
Income Tax [Line Items]
Operating Loss carryforwards, expiration year			2031
Impact on effective tax rate					29,059	29,059
Reversal of accrued interest related to unrecognized tax benefits					8,034
Reversal of accrued interest, impact on effective tax rate					4,860
Unrecognized tax benefit by offset in full by valuation allowance					38,024
Unrecognized tax benefits due to settlement of tax examination					7,956
Income tax examination, year under examination			2011
State and Local Jurisdiction
Income Tax [Line Items]
Impact on effective tax rate					2,128	2,128
Reversal of accrued interest related to unrecognized tax benefits					1,575
Unrecognized tax benefit by offset in full by valuation allowance					1,806
Increase in tax provision					7,100
Foreign Country
Income Tax [Line Items]
Foreign tax credit carryovers	51,580		51,580
Net operating loss carry-forwards in various foreign countries without expiration date	172,000		172,000
Net operating loss carry-forwards in various foreign countries expected to expire in stages	54,000		54,000
Foreign tax credit carryovers likely to realize before expiration	21,000		21,000
Deferred tax asset valuation allowance related to income tax	16,000		18,000
Provision for valuation allowances on deferred tax assets	$ 21,000		$ 21,000	$ 3,000				$ 3,000
Number of foreign jurisdictions that the company files income tax	40		40
Foreign Country | Minimum
Income Tax [Line Items]
Operating Loss carryforwards, expiration year			2015
Foreign tax credit carryovers, expiration year			2016
Foreign Country | Maximum
Income Tax [Line Items]
Operating Loss carryforwards, expiration year			2029
Foreign tax credit carryovers, expiration year			2024

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FAIR VALUE MEASUREMENT

12 Months Ended

Dec. 31, 2014

FAIR VALUE MEASUREMENT

9. FAIR VALUE MEASUREMENT

The Company values its assets and liabilities using the methods of fair value as described in ASC 820, Fair Value Measurements and Disclosures. ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The three levels of fair value hierarchy are described below:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability.

In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible, and considers counterparty credit risk in its assessment of fair value. Observable or market inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s assumptions based on the best information available. There have been no transfers of assets or liabilities between the fair value measurement classifications in the year ended December 31, 2014.

The Company has certain assets and liabilities that are required to be recorded at fair value on a recurring basis in accordance with accounting principles generally accepted in the United States. The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of December 31, 2014:

	December 31, 2014
	Level 1		Level 2		Level 3		Total
Assets:
Bank time deposits	$	—	$	60,553	$	—	$	60,553
Foreign exchange contracts		—		74		—		74
Total Assets	$	—	$	60,627	$	—	$	60,627
Liabilities:
Foreign exchange contracts	$	—	$	265	$	—	$	265
Lease exit liabilities		—		—		8,515		8,515
Total Liabilities	$	—	$	265	$	8,515	$	8,780

The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of December 31, 2013:

	December 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Bank time deposits	$	—	$	46,881	$	—	$	46,881
U.S. and foreign government obligations		—		1,595		—		1,595
Bankers’ acceptances		—		8,475		—		8,475
Foreign exchange contracts		—		255		—		255
Total Assets	$	—	$	57,206	$	—	$	57,206
Liabilities:
Foreign exchange contracts	$	—	$	9	$	—	$	9
Lease exit liabilities		—		—		12,550		12,550
Total Liabilities	$	—	$	9	$	12,550	$	12,559

We recognize a liability for costs to terminate an operating lease obligation before the end of its term when we no longer derive economic benefit from the lease. The lease exit liabilities within the Level 3 tier relate to vacated facilities associated with previously discontinued operations, restructuring activities of the Company and consolidation of office facilities and are recorded in accrued expenses and other current liabilities in the consolidated balance sheets. The liability is recognized and measured based on a discounted cash flow model when the cease use date has occurred. The fair value of the liability is determined based on the remaining lease rentals due, reduced by estimated sublease rental income that could be reasonably obtained for the property. In the first quarter of 2014, the Company vacated its office facilities in Maynard, Massachusetts and Cambridge, Massachusetts and moved in to our new corporate headquarters in Weston, Massachusetts.

The changes in the fair value of the Level 3 liabilities are as follows:

	Lease Exit Liability
	Year ended December 31,
	2014			2013
Balance, Beginning of Period	$	12,550		$	14,233
Expense		7,208			6,225
Cash Payments and changes in fair value		(11,243	)		(7,908	)
Balance, End of Period	$	8,515		$	12,550

The carrying value for cash and cash equivalents, accounts receivable, accounts payable, certain accrued expenses and other current liabilities approximate fair value because of the immediate or short-term maturity of these financial instruments. The Company’s debt relates to its 3.50% convertible senior notes due 2019 and borrowings under its revolving credit facilities and term loan (see Note 14 – Long-Term Debt). Our borrowings under our credit facilities approximate fair value due to the debt bearing fluctuating market interest rates. The carrying amounts of the convertible senior notes approximate fair value giving affect for the term of those notes and the effective interest rates.

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Restructuring and Other Special Charges - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2014 Employee	Dec. 31, 2013 Person
Restructuring Cost and Reserve [Line Items]
Number of Associates notified	1,000
Restructuring November 2012 Plan
Restructuring Cost and Reserve [Line Items]
Number of Associates notified		400

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DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2014

DISCONTINUED OPERATIONS

7. DISCONTINUED OPERATIONS

During the third quarter of 2012, as part of the Company’s review of strategic alternatives, the Company made the decision to sell its Careers-China business. The sale of the Careers-China business to Saongroup, Ltd. (“Saongroup”) was completed on February 5, 2013. The Company received a 10% minority interest in the combined Chinese business of Saongroup. The Company’s 10% minority interest does not provide the Company with representation on the board of directors, the Company is not entitled to any dividend or other forms of cash returns and the Company is not required to make any capital contributions in the future. The Company recognizes the 10% interest as a cost basis investment with an estimated fair value of zero which is based on available information.

Prior to the close of the sale of Careers-China, the Company incurred charges relating to severance benefits associated with terminated employees, retention benefits for employees who remained with the combined operations and certain lease obligation costs. At February 5, 2013, there was $23,109 of accumulated unrealized currency translation gain related to the net assets of Careers-China. With the sale of Careers-China on February 5, 2013, the Company recorded the foreign currency translation adjustment as a reduction of the loss from discontinued operations. On October 25, 2013, the Company received $1,846 of funds previously held in escrow relating to the sale of Careers-China, which has been recorded as a gain in the consolidated statements of operations in the year ended December 31, 2013. Additionally, the Company recorded a tax benefit of $4,916 for the year ended December 31, 2013. Accordingly, the Company recorded a loss from discontinued operations related to Careers-China, net of tax, of $1,724 in the year ended December 31, 2013. The Company does not expect to incur significant additional charges in future periods relating to Careers-China.

As disclosed in Note 5 – Goodwill and Intangible Assets, the Company recorded a goodwill impairment charge for 100% of the goodwill attributable to Careers-China in the amount of $262,650 in the year ended December 31, 2012. Further, in 2012, the Company recorded an impairment of $5,205 relating to amortizable intangibles. Finally, as disclosed in Note 17- Income Taxes, the Company recorded a full valuation allowance of $9,710 associated with Careers-China deferred tax assets during the year ended December 31, 2012.

During the fourth quarter of 2012, the Company made the strategic decision to discontinue operations in Latin America and Turkey. All of the Latin America and Turkey business operations were discontinued on or before December 31, 2012. The Company incurred approximately $8,000 of costs associated with the shutdown of these businesses in the fourth quarter of 2012. For the year ended December 31, 2013, the Company recorded additional costs of $3,565 primarily relating to severance costs associated with terminated employees of our operations in Latin America and Turkey. Additionally, the Company recorded a tax benefit of $1,491 for the year ended December 31, 2013. Accordingly, the Company recorded a loss from discontinued operations related to Latin America and Turkey, net of tax, of $2,074 in the year ended December 31, 2013. The Company does not expect to incur significant additional charges in future periods relating to Latin America or Turkey.

In the aggregate, the Company’s head count was reduced by approximately 1,000 employees as a result of the sale of Careers-China and the exiting of Latin America and Turkey.

Operating results for Careers-China, Latin America and Turkey, which had previously been included in the Company’s consolidated statement of operations, have been reclassified as discontinued operations for all periods presented. Summarized results of our discontinued operations are as follows:

	The year ended December 31,
	2014		2013			2012
Net revenue	$	—	$	2,399		$	45,590
Loss from discontinued operations, net of tax	$	—	$	(3,798	)	$	(316,886	)

There were $268 and $1,049 of liabilities associated with our discontinued operations as of December 31, 2014 and December 31, 2013, respectively. The liabilities have been classified as current and are included in accounts payable, accrued expenses and other in the Company’s consolidated balance sheets.

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PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2014

PROPERTY AND EQUIPMENT, NET

8. PROPERTY AND EQUIPMENT, NET

The Company’s property, equipment and accumulated depreciation balances are as follows:

	December 31, 2014		December 31, 2013
Capitalized software costs	$	209,007	$	200,567
Furniture and equipment		16,196		22,785
Leasehold improvements		40,103		41,573
Computer and communications equipment		160,414		183,765
		425,720		448,690
Less: accumulated depreciation		305,991		324,521
Property and equipment, net	$	119,729	$	124,169

Internally developed software costs capitalized were $28,024, $24,901, and $32,604 for the years ended December 31, 2014, 2013 and 2012, respectively, and are included in property and equipment, net in the Company’s consolidated balance sheets.

Depreciation expense, excluding discontinued operations, was $46,019, $49,922 and $51,926 or the years ended December 31, 2014, 2013 and 2012, respectively. During the first quarter of 2014, the Company vacated, and wrote off assets associated with, its office facilities in Maynard, Massachusetts and Cambridge, Massachusetts and moved in to our new corporate headquarters in Weston, Massachusetts.

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CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME

12 Months Ended

Dec. 31, 2014

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME

10. CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME

The amounts recognized in accumulated other comprehensive income were as follows:

	Foreign Currency Translation Adjustments
	Year ended December 31,
	2014			2013
Beginning balance	$	63,368		$	87,162
Other comprehensive loss before reclassifications		(55,942	)		(685	)
Amounts reclassified from accumulated other comprehensive income		1,819			(23,109	)
Net current period change in accumulated other comprehensive income		(54,123	)		(23,794	)
Ending balance	$	9,245		$	63,368

Amounts reclassified from accumulated other comprehensive income to income were as follows:

	Affected Line Item in the Statement Where Net Income Is Presented	Year ended December 31,
Details about AOCI Components		2014		2013
Foreign currency translation adjustments
Deconsolidation of foreign subsidiaries	Gain on deconsolidation of subsidiaries, net	$	1,819	$	—
Sale of foreign entity	Loss from discontinued operations, net of tax		—		(23,109	)
Total reclassifications		$	1,819	$	(23,109	)

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Property and Equipment, Net (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 425,720	$ 448,690
Less: accumulated depreciation	305,991	324,521
Property and equipment, net	119,729	124,169	147,613
Capitalized software costs
Property, Plant and Equipment [Line Items]
Property and equipment, gross	209,007	200,567
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	16,196	22,785
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	40,103	41,573
Computer and communications equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 160,414	$ 183,765

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Income Taxes Related to (Loss) Income from Operations before Loss in Equity Interests Differ from Amount Computed Using Federal Statutory Income Tax Rate (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Taxes [Line Items]
Income taxes at Federal statutory rate									$ (111,655)	$ 9,598	$ 9,195
State income taxes, net of Federal income tax effect									(13,767)	1,152	217
Foreign tax rate differences									308	3,510	1,655
Change in valuation allowance									20,901	749	9,370
Reversals of accrued income tax									(1,143)	(12,391)	(28,814)
Interest expense on tax liabilities, net of reversals									710	(189)	(3,517)
Earnings not indefinitely reinvested										676	1,303
Non-deductible compensation and other expenses									952	1,506	1,095
Effect of foreign partnerships and joint venture									4,090
Tax effect of restructuring items											(21,754)
Effect of intercompany loans									392	250	(1,728)
Non-deductible goodwill impairment									65,938
Research and experimentation tax credit									(2,017)
Sale of noncontrolling interest										18,143
(Benefit from) provision for income taxes	$ (45,503)	$ 1,934	$ 1,615	$ 6,663	$ 28,157	$ 4,480	$ 2,366	$ (11,999)	$ (35,291)	$ 23,004	$ (32,978)

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Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (Fair Value, Measurements, Recurring, USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Assets:
Assets	$ 60,627	$ 57,206
Liabilities:
Foreign exchange contracts	265	9
Lease exit liabilities	8,515	12,550
Total Liabilities	8,780	12,559
Bank time deposits
Assets:
Assets	60,553	46,881
Foreign Exchange Contract
Assets:
Assets	74	255
U.S. and foreign government obligations
Assets:
Assets		1,595
Bankers' acceptances
Assets:
Assets		8,475
Level 2
Assets:
Assets	60,627	57,206
Liabilities:
Foreign exchange contracts	265	9
Total Liabilities	265	9
Level 2 | Bank time deposits
Assets:
Assets	60,553	46,881
Level 2 | Foreign Exchange Contract
Assets:
Assets	74	255
Level 2 | U.S. and foreign government obligations
Assets:
Assets		1,595
Level 2 | Bankers' acceptances
Assets:
Assets		8,475
Level 3
Liabilities:
Lease exit liabilities	8,515	12,550
Total Liabilities	$ 8,515	$ 12,550

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Summarized Results of Business Held for Sale (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended			12 Months Ended
	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax	$ 3,095	$ (759)	$ (6,134)		$ (3,798)	$ (316,886)
Careers - China, Latin America and Turkey
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue					2,399	45,590
Income (loss) from discontinued operations, net of tax					$ (3,798)	$ (316,886)

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Long-lived Assets by Geographic Region (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Segment Reporting Information [Line Items]
Property and equipment, net	$ 119,729		$ 124,169		$ 147,613
United States
Segment Reporting Information [Line Items]
Property and equipment, net	89,343	[1]	88,284	[1]	103,112	[1]
International
Segment Reporting Information [Line Items]
Property and equipment, net	$ 30,386	[1]	$ 35,885	[1]	$ 44,501	[1]

[1] Total long-lived assets includes property and equipment, net.

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DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2014

Summarized Results of Discontinued Operations

Summarized results of our discontinued operations are as follows:

	The year ended December 31,
	2014		2013			2012
Net revenue	$	—	$	2,399		$	45,590
Loss from discontinued operations, net of tax	$	—	$	(3,798	)	$	(316,886	)

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Stock-Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended	12 Months Ended			0 Months Ended	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Nov. 04, 2014	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash compensation	$ 4,354,000	$ 35,357,000	$ 25,391,000	$ 28,964,000
Accumulated Excess realized tax benefit		0
Restricted Stock Awards and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSA's and RSU's for which accelerating was vested						418,333
Non-cash compensation					4,354,000
Tax benefits recognized on the non-vested stock-based compensation		12,154,000	7,430,000	8,878,000
Number of employees, executive officers and directors of the Company received grant			75	225
Description of vesting date			The RSAs and RSUs vest in various increments on the anniversaries of the individual grant dates, through December 10, 2017, subject to the recipient's continued employment or service through each applicable vesting date.	The RSAs and RSUs vest in various increments on the anniversaries of the individual grant dates, through December 11, 2016, subject to the recipient's continued employment or service through each applicable vesting date.
Unrecognized compensation expense	$ 19,638,000	$ 19,638,000
Remaining weighted average term over which unamortized compensation expense will be recognized		1 year 2 months 12 days
Restricted Stock Awards and Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting date			Dec. 10, 2017	Dec. 11, 2016
Service Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award granted in period		581,915	286,500	1,229,526
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award granted in period		617,000	8,694,000	1,230,000
Number of employees, executive officers and directors of the Company received grant		250
Description of vesting date		The RSUs vest in various increments on the anniversaries of the individual grant dates, through December 9, 2019, subject to the recipient's continued employment or service through each applicable vesting date.
Service Based Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award granted in period			1,212,848	3,156,515
Market Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement by share based payment award granted in period		0	5,340,390	0
Market Based Restricted Stock Awards and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employees, executive officers and directors of the Company received grant			450
Vesting period			5 years
Description of vesting rights			The market-based RSUs vest in four tranches, with each tranche equaling 25% of the award, if, and when, certain stock price targets are achieved and maintained for 15 trading days in a consecutive 30-day trading period, subject to the recipient's continued employment and service through the one year anniversary of the target stock price being achieved.
Market Based Restricted Stock Awards and Restricted Stock Units | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25.00%
Market Based Restricted Stock Awards and Restricted Stock Units | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25.00%
Market Based Restricted Stock Awards and Restricted Stock Units | Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25.00%
Market Based Restricted Stock Awards and Restricted Stock Units | Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			25.00%
Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSA's and RSU's for which accelerating was vested	2,250,000				2,250,000
Share based compensation arrangement by share based payment award granted in period		35,000	3,067,200	0
Performance Based Restricted Stock Awards and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of employees, executive officers and directors of the Company received grant		2	1,100
Performance Based Restricted Stock Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSA's and RSU's for which accelerating was vested	160,501				160,501

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SUPPLEMENTAL CASH FLOW AND BALANCE SHEET INFORMATION

12 Months Ended

Dec. 31, 2014

SUPPLEMENTAL CASH FLOW AND BALANCE SHEET INFORMATION

15. SUPPLEMENTAL CASH FLOW AND BALANCE SHEET INFORMATION

Supplemental cash flow information to the consolidated statements of cash flows was as follows, including discontinued operations:

	Year Ended December 31,
	2014		2013		2012
Interest paid	$	7,390	$	7,422	$	11,100
Income tax paid, net		7,843		3,544		16,654
Non-cash investing and financing activities:
Net assets of entities contributed to Alma Career Oy		4,200		—		—
Excess income tax benefit from equity compensation plans		199		5,907		—

The following are a component of accrued expenses and other current liabilities:

	Year Ended December 31,
	2014		2013		2012
Accrued Salaries, benefits, commissions, bonuses and payroll taxes	$	40,466	$	40,859	$	41,460

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LEGAL MATTERS

12 Months Ended

Dec. 31, 2014

LEGAL MATTERS

20. LEGAL MATTERS

The Company is involved in various legal proceedings that are incidental to the conduct of its business. Aside from the matters discussed below, the Company is not involved in any pending or threatened legal proceedings that it believes could reasonably be expected to have a material adverse effect on its financial condition or results of operations.

In September 2013, Career Destination Development, LLC filed suit against the Company for allegedly infringing certain patents, U.S. Patent No. 7,424,438 (the “438 Patent”) and U.S. Patent No. 8,374,901 (the “901 Patent”), relating to methods for the online searching of jobs. The lawsuit, entitled Career Destination Development, LLC vs. Monster Worldwide, Inc. (Civil Action No. 13-cv-2423), was brought in the United States District Court for the District of Kansas. The Plaintiff sought injunctive relief, monetary damages, pre and post judgment interest, and other costs. On October 10, 2013, the Company filed an answer denying the allegations set forth in the complaint. On February 12, 2014, Monster filed two separate petitions in the United States Patent and Trademark Office (“USPTO”) for covered business method (“CBM”) review of the ‘901 Patent, and the USPTO subsequently assigned case numbers CBM2014-00069 and CBM2014-00070 to these petitions for CBM review of the ‘901 Patent. On February 12, 2014 and February 21, 2014, Monster also filed petitions in the USPTO for CBM review of the ‘438 Patent, and the USPTO subsequently assigned case numbers CBM2014-00068 and CBM2014-00077 to the petitions for review of the ‘438 Patent. On March 14, 2014, the District Court for the District of Kansas granted Monster’s motion to stay Civil Action No. 13-cv-2423 pending the aforementioned CBM reviews of the ‘438 and ‘901 Patents. On November 28, 2014, the parties entered into a settlement agreement whereby all claims would be dismissed with prejudice and the petitions filed with the USPTO would be withdrawn. By Order of the Court dated November 25, 2014, the action was dismissed with prejudice.

In April 2014, Selene Communication Technologies LLC filed suit against the Company for allegedly infringing a certain patent relating to methods for generating search queries. The lawsuit, entitled Selene Communication Technologies LLC vs. Monster Worldwide, Inc. (Civil Action No.14-cv-434) was brought in the United States District Court for the District of Delaware. The Plaintiff sought injunctive relief, monetary damages, pre and post judgment interest and other costs. On June 13, 2014, the Company filed an answer denying the allegations set forth in the complaint. On October 29, 2014, the parties entered into a settlement agreement whereby all claims would be voluntarily dismissed with prejudice. By Order of the Court dated November 17, 2014, the action was dismissed with prejudice.

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Financial Information by Quarter (Detail) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Quarterly Financial Information [Line Items]
Revenue	$ 186,203	$ 191,220	$ 194,441	$ 198,149	$ 198,718	$ 196,817	$ 200,058	$ 211,986	$ 770,013		$ 807,579		$ 890,392
Salaries and related	107,337	100,587	103,220	101,999	99,433	92,931	89,467	97,575	413,143		379,406		408,305
Office and general	50,450	52,186	49,131	55,207	50,461	51,542	52,262	51,132	206,974		205,397		226,601
Marketing and promotion	32,493	35,109	37,377	41,413	38,840	38,089	43,394	49,267	146,392		169,590		188,326
Goodwill impairment	325,800								325,800				262,650
Total operating expenses	516,080	187,882	189,728	198,619	188,734	182,562	191,951	211,141	1,092,309		774,388		858,240
Operating (loss) income	(329,877)	3,338	4,713	(470)	9,984	14,255	8,107	845	(322,296)		33,191		32,152
Gain on deconsolidation of subsidiaries, net				11,828					11,828
Interest and other, net	(3,739)	(1,830)	(1,660)	(1,323)	(1,663)	(1,482)	(1,357)	(1,268)	(8,552)		(5,770)		(5,883)
Income (loss) before income taxes and (loss) income in equity interests	(333,616)	1,508	3,053	10,035	8,321	12,773	6,750	(423)	(319,020)		27,421		26,269
(Benefit from) provision for income taxes	(45,503)	1,934	1,615	6,663	28,157	4,480	2,366	(11,999)	(35,291)		23,004		(32,978)
(Loss) income in equity interests, net	(78)	75	58	(133)	(86)	(119)	(245)	(458)	(78)		(908)		(1,081)
Income (loss) from continuing operations	(288,191)	(351)	1,496	3,239	(19,922)	8,174	4,139	11,118	(283,807)		3,509		58,166
Net income (loss)	(288,191)	(351)	1,496	3,239	(19,922)	11,269	3,380	4,984	(283,807)		(289)		(258,720)
Net income attributable to noncontrolling interest	1,528	1,318	1,462	1,174	193				5,482		193
Net income (loss) attributable to Monster Worldwide, Inc.	(289,719)	(1,669)	34	2,065	(20,115)	11,269	3,380	4,984	(289,289)		(482)		(258,720)
Basic earnings (loss) per share	$ (3.31)	$ (0.02)		$ 0.02	$ (0.21)	$ 0.11	$ 0.03	$ 0.04	$ (3.29)	[1]		[1]	$ (2.29)	[1]
Diluted earnings (loss) per share	$ (3.31)	$ (0.02)		$ 0.02	$ (0.21)	$ 0.11	$ 0.03	$ 0.04	$ (3.29)	[1]		[1]	$ (2.27)	[1]
Weighted average shares outstanding:
Basic	87,478	86,576	87,080	91,102	97,872	105,394	110,932	111,402	88,045		106,947		112,866
Diluted	87,478	86,576	89,955	94,416	97,872	105,967	111,937	112,637	88,045	[2]	107,913	[2]	113,995	[2]
Other comprehensive income (loss):
Foreign currency translation adjustments, net	(29,883)	(27,563)	(2,861)	3,496	1,257	21,022	(9,139)	(36,999)	(56,811)		(23,859)		23,419
Comprehensive income (loss)	(318,074)	(27,914)	(1,365)	6,735	(18,665)	32,291	(5,759)	(32,015)	(340,618)		(24,148)		(235,301)
Comprehensive income (loss) attributable to noncontrolling interest	(1,918)	(14)	4,379	347	128				2,794		128
Comprehensive income (loss) attributable to Monster Worldwide, Inc.	(316,156)	(27,900)	(5,744)	6,388	(18,793)	32,291	(5,759)	(32,015)	(343,412)		(24,276)		(235,301)
Restructuring and Other Special Charges							6,828	13,167			19,995		40,358
(Loss) income from discontinued operations, net of tax						$ 3,095	$ (759)	$ (6,134)			$ (3,798)		$ (316,886)
Basic earnings (loss) per share attributable to Monster Worldwide, Inc.:
Income (loss) from continuing operations					$ (0.21)	$ 0.08	$ 0.04	$ 0.10	$ (3.29)		$ 0.03		$ 0.52
(Loss) income from discontinued operations, net of tax						$ 0.03	$ (0.01)	$ (0.06)			$ (0.04)		$ (2.81)
Basic earnings (loss) per share	$ (3.31)	$ (0.02)		$ 0.02	$ (0.21)	$ 0.11	$ 0.03	$ 0.04	$ (3.29)	[1]		[1]	$ (2.29)	[1]
Diluted earnings (loss) per share attributable to Monster Worldwide, Inc.:
Income (loss) from continuing operations					$ (0.21)	$ 0.08	$ 0.04	$ 0.10	$ (3.29)		$ 0.03		$ 0.51
(Loss) income from discontinued operations, net of tax						$ 0.03	$ (0.01)	$ (0.06)			$ (0.04)		$ (2.78)
Diluted earnings (loss) per share	$ (3.31)	$ (0.02)		$ 0.02	$ (0.21)	$ 0.11	$ 0.03	$ 0.04	$ (3.29)	[1]		[1]	$ (2.27)	[1]

[1] (Loss) earnings per share may not add in certain periods due to rounding

[2] For periods in which losses are presented, dilutive earnings per share calculations do not differ from basic earnings per share because the effects of any potential common stock equivalents are anti-dilutive and therefore not included in the calculation of dilutive earnings per share. For the year ended December 31, 2014, those potential shares totaled 3,046 which are included in the weighted average anti-dilutive common stock equivalents above, in addition to 3,891 of out of the money anti-dilutive common stock equivalents for the year ended December 31, 2014.

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Reconciliation of Shares Used in Calculating Basic and Diluted Earnings Per Share (Parenthetical) (Detail) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average anti-dilutive common stock equivalents	6,937	[1]	5,337	[1]	7,167	[1]
Potential Shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average anti-dilutive common stock equivalents	3,046
Out of Money Anti-dilutive Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average anti-dilutive common stock equivalents	3,891

[1] For periods in which losses are presented, dilutive earnings per share calculations do not differ from basic earnings per share because the effects of any potential common stock equivalents are anti-dilutive and therefore not included in the calculation of dilutive earnings per share. For the year ended December 31, 2014, those potential shares totaled 3,046 which are included in the weighted average anti-dilutive common stock equivalents above, in addition to 3,891 of out of the money anti-dilutive common stock equivalents for the year ended December 31, 2014.

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SUPPLEMENTAL CASH FLOW AND BALANCE SHEET INFORMATION (Tables)

12 Months Ended

Dec. 31, 2014

Supplemental Cash Flow Information

Supplemental cash flow information to the consolidated statements of cash flows was as follows, including discontinued operations:

	Year Ended December 31,
	2014		2013		2012
Interest paid	$	7,390	$	7,422	$	11,100
Income tax paid, net		7,843		3,544		16,654
Non-cash investing and financing activities:
Net assets of entities contributed to Alma Career Oy		4,200		—		—
Excess income tax benefit from equity compensation plans		199		5,907		—

Component of Accrued Expenses and Other Current Liabilities

The following are a component of accrued expenses and other current liabilities:

	Year Ended December 31,
	2014		2013		2012
Accrued Salaries, benefits, commissions, bonuses and payroll taxes	$	40,466	$	40,859	$	41,460

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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) In Thousands	Total USD ($)	Common Stock	Common Stock and Additional Paid-in Capital USD ($)	Accumulated Deficit USD ($)	Accumulated Other Comprehensive Income (Loss) USD ($)	Treasury Stock USD ($)	Noncontrolling Interest in Subsidiary USD ($)
Beginning balance at Dec. 31, 2011	$ 1,164,127		$ 1,931,094	$ (305,669)	$ 63,743	$ (525,041)
Beginning balance (in shares) at Dec. 31, 2011		137,855
Net (loss) income	(258,720)			(258,720)
Change in cumulative foreign currency translation adjustment	23,419				23,419
Repurchase of common stock	(65,611)					(65,611)
Tax withholdings related to net share settlements of restricted stock awards and units (in shares)		(1,099)
Tax withholdings related to net share settlements of restricted stock awards and units	(8,482)					(8,482)
Issuance of common stock for stock option exercises (in shares)	3	3
Issuance of common stock for stock option exercises	23		23
Tax provision for stock-based compensation	(5,319)		(5,319)
Stock based compensation-restricted stock	30,551		30,551
Stock based compensation-restricted stock (in shares)		3,078
Stock based compensation-stock options	51		51
Ending balance at Dec. 31, 2012	880,039		1,956,400	(564,389)	87,162	(599,134)
Ending balance (in shares) at Dec. 31, 2012		139,837
Net (loss) income	(289)			(482)			193
Change in cumulative foreign currency translation adjustment	(23,859)				(23,794)		(65)
Repurchase of common stock	(107,167)					(107,167)
Tax withholdings related to net share settlements of restricted stock awards and units (in shares)		(1,187)
Tax withholdings related to net share settlements of restricted stock awards and units	(6,061)					(6,061)
Sale of noncontrolling interest	72,624		18,278				54,346
Tax provision for stock-based compensation	166		166
Stock based compensation-restricted stock	28,692		28,692
Stock based compensation-restricted stock (in shares)		3,021
Ending balance at Dec. 31, 2013	844,145		2,003,536	(564,871)	63,368	(712,362)	54,474
Ending balance (in shares) at Dec. 31, 2013		141,671
Net (loss) income	(283,807)			(289,289)			5,482
Change in cumulative foreign currency translation adjustment	(56,811)				(54,123)		(2,688)
Repurchase of common stock	(52,070)					(52,070)
Tax withholdings related to net share settlements of restricted stock awards and units (in shares)		(2,043)
Tax withholdings related to net share settlements of restricted stock awards and units	(10,508)					(10,508)
Equity component of convertible note issuance, net	18,766		18,766
Purchase of capped call	(16,531)		(16,531)
Cash dividend	(3,021)						(3,021)
Tax provision for stock-based compensation	(2,058)		(2,058)
Stock based compensation-restricted stock	36,640		36,640
Stock based compensation-restricted stock (in shares)		4,733
Ending balance at Dec. 31, 2014	$ 474,745		$ 2,040,353	$ (854,160)	$ 9,245	$ (774,940)	$ 54,247
Ending balance (in shares) at Dec. 31, 2014		144,361

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Commitments - Additional Information (Detail) (USD $) In Thousands, except Share data, unless otherwise specified	1 Months Ended	3 Months Ended								12 Months Ended			0 Months Ended	3 Months Ended
	Oct. 31, 2010	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Nov. 04, 2014	Oct. 30, 2013
Commitments and Contingencies Disclosure [Line Items]
Rent and related expenses under operating leases										$ 51,226	$ 42,546	$ 43,030
Non-cancelable contractual commitments		36,746								36,746
Commitments due period										2 years
Resignation charges		8,957
Non-cash compensation		4,354								35,357	25,391	28,964
Percentage of employer matching contributions	50.00%
Percentage of employer matching contributions to eligible compensation	6.00%
Employer matching contributions										4,050	4,060	4,596
Salaries and related expenses		107,337	100,587	103,220	101,999	99,433	92,931	89,467	97,575	413,143	379,406	408,305
Performance Based Restricted Stock Award
Commitments and Contingencies Disclosure [Line Items]
Number of RSA's and RSU's for which accelerating was vested		160,501											160,501
Performance Based Restricted Stock Units
Commitments and Contingencies Disclosure [Line Items]
Number of RSA's and RSU's for which accelerating was vested		2,250,000											2,250,000
Office Facility in Weston, Massachusetts
Commitments and Contingencies Disclosure [Line Items]
Lease Term beginning date														Jan. 01, 2014
Lease expiration date														May 30, 2025
Defined Benefit Plan Contributions
Commitments and Contingencies Disclosure [Line Items]
Salaries and related expenses										$ 3,140	$ 2,952	$ 3,275

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BUSINESS COMBINATIONS

12 Months Ended

Dec. 31, 2014

BUSINESS COMBINATIONS

4. BUSINESS COMBINATIONS

In the first quarter of 2014, the Company’s Careers-North America segment purchased TalentBin, Inc., a social profile talent search engine, and Gozaik LLC, a developer of social jobs aggregation and distribution technology. Aggregate consideration for the acquisitions was $27,005 in cash, net of cash acquired, with $1,750 of the consideration in escrow. The Company recorded $25,061 of goodwill, $907 of deferred tax assets, $1,740 of purchased technology, $730 of other intangibles, $249 of other assets and $1,482 of liabilities related to the acquisitions. Of the goodwill recorded, approximately $10,500 will be deductible for tax purposes. Revenue and operating results of the acquired entities are not presented due to immateriality.

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Intangible Assets (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 112,353	$ 106,164
Accumulated Amortization	(81,850)	(82,106)
Customer Relationships
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	48,856	49,808
Accumulated Amortization	(47,785)	(48,895)
Amortization Period (Years)	2 years
Trade Names
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	7,786	10,600
Accumulated Amortization	(2,181)	(3,926)
Amortization Period (Years)	3 years
Patents
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	8,428	718
Accumulated Amortization	(584)	(52)
Amortization Period (Years)	5 years
Other
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	32,986	29,798
Accumulated Amortization	(31,300)	(29,233)
Amortization Period (Years)	2 years
Trademarks/Internet domains
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 14,297	$ 15,240

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Income Taxes Relating to Operations (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current income taxes:
U.S. Federal									$ 2,018	$ 2,814	$ (40,306)
State and local									(692)	(1,357)	(1,668)
Foreign									6,801	(7,027)	18,810
Total current income taxes									8,127	(5,570)	(23,164)
Deferred income taxes:
U.S. Federal									(35,661)	24,513	(2,495)
State and local									(9,622)	5,766	(2,975)
Foreign									1,865	(1,705)	(4,344)
Total deferred income taxes									(43,418)	28,574	(9,814)
(Benefit from) provision for income taxes	$ (45,503)	$ 1,934	$ 1,615	$ 6,663	$ 28,157	$ 4,480	$ 2,366	$ (11,999)	$ (35,291)	$ 23,004	$ (32,978)

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Changes in Accumulated Other Comprehensive Income (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ending balance	$ 9,245	$ 63,368
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	63,368	87,162
Other comprehensive loss before reclassifications	(55,942)	(685)
Amounts reclassified from accumulated other comprehensive income	1,819	(23,109)
Net current period change in accumulated other comprehensive income	(54,123)	(23,794)
Ending balance	$ 9,245	$ 63,368

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SUBSEQUENT EVENTS (UNAUDITED)

12 Months Ended

Dec. 31, 2014

SUBSEQUENT EVENTS (UNAUDITED)

21. SUBSEQUENT EVENTS (UNAUDITED)

“Reallocate to Accelerate”

On February 10, 2015, the Company committed to take a series of cost savings initiatives to reduce costs globally while continuing to support the Company’s new strategy. The initiatives currently include a global workforce reduction of approximately 300 associates, or 7% of its full-time staff, consolidation of certain office facilities, and continuing discretionary-spending and office and general expense controls. The Company expects these reductions, currently anticipated to be completed by the end of 2015, to result in annualized savings of approximately $38,000 to $45,000. The full impact of the savings will be realized beginning in the fourth quarter of 2015. As a result of these initiatives, the Company expects to record a cumulative pre-tax charge within the range of $18,000 to $23,000, all of which is expected to be cash expenditures. The majority of the associated charges are expected to be recorded in the first half of 2015.

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Fair Value Position of Derivatives (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Derivative [Line Items]
Notional Amount	$ 41,280	$ 48,022
Fair Value	(191)	246
Not Designated as Hedges under ASC 815 | Prepaid and other | Foreign currency exchange forwards
Derivative [Line Items]
Notional Amount	15,902	43,265
Maturity Dates	2015-01	2014-01
Fair Value	74	255
Not Designated as Hedges under ASC 815 | Accrued expenses and other current liabilities | Foreign currency exchange forwards
Derivative [Line Items]
Notional Amount	25,378	4,757
Maturity Dates	2015-01	2014-01
Fair Value	$ (265)	$ (9)

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INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2014

Income (Loss) in Equity Interests, Net

Income (loss) in equity interests, net are as follows by equity investment:

	The year ended December 31,
	2014			2013			2012
Alma Career Oy	$	596		$	—		$	—
Finland		—			343			573
Australia		(674	)		(1,251	)		(1,654	)
Loss in equity interests, net	$	(78	)	$	(908	)	$	(1,081	)

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LONG-TERM DEBT

12 Months Ended

Dec. 31, 2014

LONG-TERM DEBT

14. LONG-TERM DEBT

Long-term debt, net of discounts where applicable, is summarized as follows:

	December 31,
	2014			2013
3.50% convertible senior notes due 2019	$	143,750		$	—
Credit facilities		87,750			135,275
Unamortized discount on convertible senior notes		(20,116	)		—
		211,384			135,275
Less: current portion of long-term debt		9,563			9,375
Long-term debt, net, less current portion	$	201,821		$	125,900

3.50% Convertible Senior Notes Due 2019

On October 22, 2014, the Company consummated an offering of $143,750 aggregate principal amount of its 3.50% convertible senior notes due 2019 (the “Notes”), which includes $18,750 in aggregate principal amount of Notes sold pursuant to the over-allotment option that was previously granted to the initial purchasers of the Notes and exercised by the initial purchasers on October 21, 2014. The Company received net proceeds of $139,031 from the sale of the Notes, after deducting fees and expenses of $4,719. The Notes are unsecured, senior obligations of Monster, that bear interest at a rate of 3.50% per annum, payable in arrears on April 15 and October 15 of each year to holders of record at the close of business on the preceding April 1 and October 1, respectively. The Notes will mature on October 15, 2019, unless converted or repurchased in accordance with their terms prior to such date.

In connection with the offering of the Notes, Monster entered into capped call transactions with an affiliate of one of the initial purchasers. The Company used $16,531 of the net proceeds to pay for the cost of the capped call transactions, $82,500 to repay in full the term loan outstanding as of the date of issuance, and $40,000 to repay a portion of the loans outstanding under the revolving credit facility.

The conversion rate for the Notes is initially 187.7405 shares per one thousand dollar principal amount of the Notes, which is equivalent to an initial conversion price of approximately $5.33 per share of Monster’s common stock (“Common Stock”), and is subject to adjustment in certain circumstances. Unless and until Monster obtains stockholder approval to issue upon conversion of the Notes more than 19.99% of the outstanding shares of Common Stock, Monster will settle conversions of the Notes by paying cash up to the principal amount of any converted Notes and delivering Common Stock and/or paying cash in respect of any remaining conversion obligation, and the number of shares of Common Stock issuable upon conversion of the Notes will be subject to such cap. If Monster obtains stockholder approval to issue upon conversion of the Notes more than 19.99% of the outstanding shares of Common Stock on the date the Notes were priced, Monster will settle conversions of the Notes by paying or delivering, as the case may be, cash, shares of Common Stock or a combination thereof, at its election. Monster will not have the right to redeem the Notes prior to maturity. The maximum number of shares of common stock the Notes are convertible into is approximately 27,000,000, and is subject to adjustment under certain circumstances.

The Notes will be convertible at the option of holders only under the following circumstances:

(1) Prior to the business day immediately preceding January 15, 2019, during any calendar quarter commencing after the calendar quarter ended on December 31, 2014 (and only during such calendar quarter), if the last reported sale price of Common Stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;

(2) Prior to the business day immediately preceding January 15, 2019, during the five business day period after any five consecutive trading day period (the “Measurement Period”) in which the trading price as defined in the Indenture per one thousand dollar principal amount of the Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of Common Stock and the conversion rate on each such trading day;

(3) Prior to the business day immediately preceding January 15, 2019, upon the occurrence of specified corporate events; or

(4) At any time on or after January 15, 2019 until the close of business on the second scheduled trading day immediately preceding the October 15, 2019 maturity date.

Further, holders may require the Company to purchase all or a portion of their Notes at a purchase price in cash equal to 100% of the principal amount at maturity of the Notes to be purchased, plus accrued and unpaid interest upon certain fundamental changes.

In accordance with ASC 470-20, Debt with Conversion and Other Options, the Notes were separated into debt and equity components and assigned a fair value. The value assigned to the debt component was the estimated fair value, as of the issuance date, of similar debt without the conversion feature. The difference between the cash proceeds and this estimated fair value represents the value which was assigned to the equity component and was recorded as a debt discount. The debt discount is being amortized using the effective interest method from the date of issuance through the October 15, 2019 maturity date.

The initial debt component of the Notes was valued at $122,829, based on the contractual cash flows discounted at an appropriate market rate for non-convertible debt at the date of issuance. The carrying value of the permanent equity component reported in additional paid-in-capital was initially valued at $20,228, which is net of $693 of fees and expenses allocated to the equity component.

The capped call transactions are expected generally to reduce potential dilution to the Common Stock and/or offset cash payments Monster would have to make in excess of the principal amount of any converted Notes in the event that the market price per share of Common Stock, as measured under the terms of the capped call transaction, is greater than the strike price of the capped call transaction, which will initially correspond to the conversion price of the Notes and be subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the Notes. The cap price under the capped call transaction is initially $7.035 per share, and is subject to certain adjustments under the terms of the capped call transaction. The capped call transaction has been included as a net reduction to additional paid-in capital within stockholders’ equity in accordance with ASC 815-40, Derivatives and Hedging – Contracts in Entity’s Own Equity.

Credit Facilities

On March 22, 2012, the Company amended its then-existing credit agreement in its entirety (the “Second Amended Credit Agreement”). The Second Amended Credit Agreement provided the Company with a $225,000 revolving credit facility and a $100,000 term loan facility, for a total of $325,000 in credit available to the Company. The obligations under the Second Amended Credit Agreement were set to mature on March 22, 2015. The Second Amended Credit Agreement did not qualify as a debt extinguishment in accordance with ASC 470 – Debt, and all financing fees incurred were deferred were being amortized through March 2015.

On October 15, 2014, the Company entered into an amendment of the Second Amended Credit Agreement that (i) permitted the offering of the Notes and the conversion of the Notes into cash and/or equity of the Company, (ii) permitted the Company to enter into a capped call transaction and (iii) required that the Company use the proceeds from the offering of the Notes (net of reasonable and documented fees and expenses incurred in connection with the offering and the net cost of the capped call transaction), to repay the term loan facility and revolving debt under the Second Amended Credit Agreement (with no corresponding reduction of the then-existing revolving credit facility).

On October 31, 2014, the Company amended and restated the Second Amended Credit Agreement (the “Third Amended Credit Agreement”). The Third Amended Credit Agreement provides the Company with a $100,000 revolving credit facility and $90,000 term loan facility, providing for a total of $190,000 in credit available to the Company. The borrowings under the Third Amended Credit Agreement were used to satisfy the obligations under the Second Amended Credit Agreement of $98,900 under the revolving credit facility. Each of the revolving credit facility and the term loan facility matures on October 31, 2017. The Third Amended Credit Agreement partially qualifies as a debt extinguishment in accordance with ASC 470 – Debt. Accordingly, the Company expensed $388 of financing fees classified as a debt extinguishment through interest & other, net during the fourth quarter of 2014. The remaining $2,766 of financing fees will be deferred and amortized through October 2017.

The Company is required to make quarterly amortization payments on the outstanding principal amount of the term loans, with $2,250 payable on each of March 31, 2015, June 30, 2015, and September 30, 2015, $2,813 payable on each of December 31, 2015, March 31, 2016, June 30, 2016, and September 30, 2016, $3,375 payable on each of December 31, 2016, March 31, 2017, June 30, 2017, and September 30, 2017, and the remaining balance of the term loan due at maturity.

Borrowings under the Third Amended Credit Agreement bear interest at a rate equal to either (i) the London Interbank Offered Rate (“LIBOR”) plus a margin ranging from 250 basis points to 325 basis points depending on the Consolidated Leverage Ratio as defined in the Third Amended Credit Agreement or upon the Company’s election (ii) the sum of (A) the highest of (1) the Agent’s prime rate, (2) the sum of 0.50% plus the overnight federal funds rate on such day or (3) LIBOR plus 1.0%, plus (B) a margin ranging from 150 basis points to 225 basis points depending on the Company’s Consolidated Leverage Ratio. In addition, the Company will be required to pay the following fees: (i) a fee on all outstanding amounts of letters of credit at a rate per annum ranging from 250 basis points to 325 basis points (depending on the Consolidated Leverage Ratio); and (ii) a commitment fee on the unused portion of the revolving credit facility at a rate per annum ranging from 35 basis points to 50 basis points (depending on the Consolidated Leverage Ratio).

The Third Amended Credit Agreement contains financial covenants requiring the Company to maintain: (i) a consolidated leverage ratio of no more than 2.75 to 1.00, as of the end of each fiscal quarter ending after the closing date through the fiscal quarter ending March 31, 2015, and 2.50 to 1.00, as of the end of the fiscal quarter ending June 30, 2015, and each fiscal quarter ending thereafter; and (ii) a consolidated Fixed Charge Coverage Ratio, as defined in the Third Amended Credit Agreement, of at least 1.50 to 1.00. The Third Amended Credit Agreement also contains various other negative covenants, including restrictions on incurring indebtedness, creating liens, mergers, dispositions of property, dividends and stock repurchases, acquisitions and other investments and entering into new lines of business. The Third Amended Credit Agreement also contains various affirmative covenants, including covenants relating to the delivery of financial statements and other financial information, maintenance of property, maintenance of insurance, maintenance of books and records, further assurances regarding collateral and compliance with environmental laws. The Third Amended Credit Agreement is secured by substantially all of the Company’s domestic assets, other than real estate and certain other excluded assets. As of December 31, 2014, the Company was in full compliance with its covenants.

On February 5, 2015, the Company entered into an amendment of the Third Amended Credit Agreement to provide the Company with flexibility in connection with its “Reallocate to Accelerate” cost savings initiatives. The amendment provides that up to $20,000 of costs and restructuring charges incurred during the fiscal year ending December 31, 2015 will be added back to Consolidated EBITDA, which is a component of the Consolidated Leverage Ratio and the Consolidated Fixed Charge Coverage Ratio.

At December 31, 2014, the utilized portion of this credit facility was $87,750 in borrowings on the term loan facility, $0 borrowings on the revolving credit facility, and $303 in outstanding letters of credit. The portion of the term loan that is due within one year is $9,563 and is classified as short-term in the consolidated balance sheet. The remaining amount outstanding on the term loan is classified as long-term debt in the Company’s consolidated balance sheets. As of December 31, 2014, based on the calculation of the maximum consolidated leverage ratio, $26,860 of the Company’s revolving credit facility was available. At December 31, 2014, the one month BBA LIBOR rate, the agent’s prime rate, and the overnight federal funds rate were 0.17%, 3.25% and 0.06%, respectively. As of December 31, 2014, the Company used the one month BBA LIBOR rate for the interest rate on these borrowings with an interest rate of 3.16%.