##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 
 FORM 10-Q
 þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2008
 OR
 o
    
    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 000-21571
 
 MONSTER WORLDWIDE, INC.
  DELAWARE
    
    13-3906555(STATE OR OTHER JURISDICTION OF
    
    (I.R.S. EMPLOYERINCORPORATION OR ORGANIZATION)
    
    IDENTIFICATION NO.)622 Third Avenue, New York, New York
    
    10017(ADDRESS OF PRINCIPAL
    
    (ZIP CODE)EXECUTIVE OFFICES)
 (212) 351-7000
 
 þ o
  Large accelerated filer þ
    
    Accelerated filer o
    
    Non-accelerated filer o(Do not check if a smaller reporting company)
    
    Smaller reporting company o
 o þ
  Outstanding as ofClass
    
    October 31, 2008Common Stock
    
    
    118,458,460Class B Common Stock
    
    
    4,762,000




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##### 



MONSTER WORLDWIDE, INC.
INDEX
 PageNo.PART IFINANCIAL INFORMATIONItem 1. Financial Statements:Consolidated statements of operations
    
    
    3Consolidated balance sheets
    
    
    4Consolidated statements of cash flows
    
    
    5Notes to consolidated financial statements
    
    
    6Report of Independent Registered Public Accounting Firm
    
    
    25Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
    
    
    26Item 3. Quantitative and Qualitative Disclosures About Market Risk
    
    
    44Item 4. Controls and Procedures
    
    
    45PART IIOTHER INFORMATIONItem 1. Legal Proceedings
    
    
    46Item 1A. Risk Factors
    
    
    50Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
    
    
    51Item 6. Exhibits
    
    
    51Signatures
    
    
    52Exhibit 10.1Exhibit 10.2Exhibit 10.3Exhibit 15.1Exhibit 31.1Exhibit 31.2Exhibit 32.1Exhibit 32.2
   2




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##### Table of Contents



PART IFINANCIAL INFORMATION
 
 ITEM 1. FINANCIAL STATEMENTS
 MONSTER WORLDWIDE, INC.
 
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (in thousands, except per share amounts)
 (unaudited)
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2008
    
    
    2007
    
    
    2008
    
    
    2007Revenue
    
    $
    332,189
    
    
    $
    330,142
    
    
    $
    1,052,955
    
    
    $
    975,957Salaries and related
    
    
    136,506
    
    
    
    126,940
    
    
    
    412,833
    
    
    
    393,259Office and general
    
    
    71,834
    
    
    
    69,466
    
    
    
    221,091
    
    
    
    200,089Marketing and promotion
    
    
    57,684
    
    
    
    71,584
    
    
    
    238,514
    
    
    
    217,661Provision for legal settlements, net
    
    
    
    
    
    
    
    
    
    
    40,100
    
    
    
    Restructuring and other special charges
    
    
    3,592
    
    
    
    11,155
    
    
    
    13,251
    
    
    
    11,155Total operating expenses
    
    
    269,616
    
    
    
    279,145
    
    
    
    925,789
    
    
    
    822,164Operating income
    
    
    62,573
    
    
    
    50,997
    
    
    
    127,166
    
    
    
    153,793Interest and other, net
    
    
    5,283
    
    
    
    6,507
    
    
    
    15,723
    
    
    
    18,823Income from continuing operations before income taxes
and equity interest
    
    
    67,856
    
    
    
    57,504
    
    
    
    142,889
    
    
    
    172,616Income taxes
    
    
    22,734
    
    
    
    20,474
    
    
    
    50,030
    
    
    
    61,151Loss in equity interests, net
    
    
    (2,086
    )
    
    
    (3,074
    )
    
    
    (7,500
    )
    
    
    (7,460
    )Income from continuing operations
    
    
    43,036
    
    
    
    33,956
    
    
    
    85,359
    
    
    
    104,005(Loss) income from discontinued operations, net of tax
    
    
    (258
    )
    
    
    (655
    )
    
    
    10,840
    
    
    
    (2,606
    )Net income
    
    $
    42,778
    
    
    $
    33,301
    
    
    $
    96,199
    
    
    $
    101,399Basic earnings (loss) per share:Income from continuing operations
    
    $
    0.36
    
    
    $
    0.26
    
    
    $
    0.70
    
    
    $
    0.80(Loss) income from discontinued operations, net of tax
    
    
    
    
    
    
    (0.01
    )
    
    
    0.09
    
    
    
    (0.02
    )Basic earnings per share*
    
    $
    0.36
    
    
    $
    0.26
    
    
    $
    0.79
    
    
    $
    0.78Diluted earnings (loss) per share:Income from continuing operations
    
    $
    0.36
    
    
    $
    0.26
    
    
    $
    0.70
    
    
    $
    0.79(Loss) income from discontinued operations, net of tax
    
    
    
    
    
    
    (0.01
    )
    
    
    0.09
    
    
    
    (0.02
    )Diluted earnings per share*
    
    $
    0.35
    
    
    $
    0.25
    
    
    $
    0.79
    
    
    $
    0.77Weighted average shares outstanding:Basic
    
    
    120,057
    
    
    
    129,499
    
    
    
    121,213
    
    
    
    129,893Diluted
    
    
    120,722
    
    
    
    130,757
    
    
    
    121,884
    
    
    
    132,044
 *-
    
    Earnings per share may not add in certain periods due to rounding. See accompanying notes.
  3




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##### Table of Contents



MONSTER WORLDWIDE, INC.
 
 CONSOLIDATED BALANCE SHEETS
 (in thousands, except per share amounts)
 (unaudited)
 September 30,
    
    
    December 31,2008
    
    
    2007ASSETSCurrent assets:Cash and cash equivalents
    
    $
    605,124
    
    
    $
    129,744Available-for-sale securities
    
    
    33,823
    
    
    
    448,703Accounts
receivable, net of allowance for doubtful accounts of $15,754 and
 $15,613
    
    
    358,214
    
    
    
    499,854Prepaid and other
    
    
    111,754
    
    
    
    106,664Total current assets
    
    
    1,108,915
    
    
    
    1,184,965Available-for-sale securities, non-current
    
    
    93,728
    
    
    
    Goodwill
    
    
    707,164
    
    
    
    615,334Property and equipment, net
    
    
    152,352
    
    
    
    123,397Intangibles, net
    
    
    36,694
    
    
    
    35,351Investment in unconsolidated affiliates
    
    
    42,360
    
    
    
    50,871Other assets
    
    
    61,761
    
    
    
    53,162Non-current assets of discontinued operations
    
    
    
    
    
    
    14,730Total assets
    
    $
    2,202,974
    
    
    $
    2,077,810LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts payable
    
    $
    44,088
    
    
    $
    57,334Accrued expenses and other current liabilities
    
    
    271,092
    
    
    
    233,611Borrowings
under credit facility
    
    
    247,000
    
    
    
    Deferred revenue
    
    
    411,764
    
    
    
    524,331Income taxes payable
    
    
    13,392
    
    
    
    13,384Total current liabilities
    
    
    987,336
    
    
    
    828,660Non-current income taxes
payable
    
    
    115,318
    
    
    
    111,108Deferred income taxes
    
    
    22,308
    
    
    
    14,878Other long-term liabilities
    
    
    1,391
    
    
    
    2,387Non-current liabilities of discontinued operations
    
    
    
    
    
    
    4,276Total liabilities
    
    
    1,126,353
    
    
    
    961,309Commitments and contingenciesStockholders equity:Preferred stock, $ .001 par value, authorized 800 shares; issued and
outstanding: none
    
    
    
    
    
    
    Common stock $.001 par value, authorized 1,500,000 shares; issued: 128,540
and 128,280 shares, respectively; outstanding: 113,819 and 119,013 shares,
respectively
    
    
    129
    
    
    
    128Class B common stock, $.001 par value, authorized 39,000 shares;
issued and outstanding: 4,762 shares
    
    
    5
    
    
    
    5Additional paid-in capital
    
    
    1,363,655
    
    
    
    1,468,808Accumulated other comprehensive income, net
    
    
    87,460
    
    
    
    118,387Accumulated deficit
    
    
    (374,628
    )
    
    
    (470,827
    )Total stockholders equity
    
    
    1,076,621
    
    
    
    1,116,501Total liabilities and stockholders equity
    
    $
    2,202,974
    
    
    $
    2,077,810
 See accompanying notes.
  4




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MONSTER WORLDWIDE, INC.
 
 CONSOLIDATED STATEMENTS OF CASH FLOWS
 (in thousands)
 (unaudited)
 Nine Months Ended September 30,2008
    
    
    2007Cash flows provided by operating activities:Net income
    
    $
    96,199
    
    
    $
    101,399Adjustments to reconcile net income to net cash provided by operating activities:(Income) loss from discontinued operations, net of tax
    
    
    (10,840
    )
    
    
    2,606Depreciation and amortization
    
    
    40,503
    
    
    
    31,862Provision for legal settlements, net
    
    
    40,100
    
    
    
    Receipts and (payments) for legal settlements, net
    
    
    5,700
    
    
    
    Provision for doubtful accounts
    
    
    11,174
    
    
    
    8,453Non-cash compensation
    
    
    22,630
    
    
    
    24,453Deferred income taxes
    
    
    (7,142
    )
    
    
    (2,697
    )Loss in equity interests and other
    
    
    10,509
    
    
    
    6,886Changes in assets and liabilities, net of purchase transactions:Accounts receivable
    
    
    131,891
    
    
    
    34,065Prepaid and other
    
    
    21,620
    
    
    
    (12,211
    )Deferred revenue
    
    
    (112,567
    )
    
    
    (9,464
    )Accounts payable, accrued liabilities and other
    
    
    (4,924
    )
    
    
    24,749Net cash used for operating activities of discontinued operations
    
    
    (4,091
    )
    
    
    (5,106
    )Total adjustments
    
    
    144,563
    
    
    
    103,596Net cash provided by operating activities
    
    
    240,762
    
    
    
    204,995Cash flows provided by (used for) investing activities:Capital expenditures
    
    
    (71,224
    )
    
    
    (47,560
    )Payments for acquisitions and intangible assets, net of cash acquired
    
    
    (126,195
    )
    
    
    (1,939
    )Sales and maturities of marketable securities
    
    
    502,305
    
    
    
    1,035,983Purchase of marketable securities
    
    
    (182,147
    )
    
    
    (1,009,836
    )Cash funded to equity investee
    
    
    (5,000
    )
    
    
    (10,000
    )Dividends received from unconsolidated investee
    
    
    1,011
    
    
    
    Net cash used for investing activities of discontinued operations
    
    
    
    
    
    
    (255
    )Net cash provided by (used for) investing activities
    
    
    118,750
    
    
    
    (33,607
    )Cash flows provided by (used for) financing activities:Proceeds from borrowings on credit facility short-term
    
    
    247,000
    
    
    
    Repurchase of common stock
    
    
    (128,133
    )
    
    
    (164,734
    )Payments on debt obligations
    
    
    (156
    )
    
    
    (58
    )Proceeds from exercise of employee stock options
    
    
    1,156
    
    
    
    54,052Excess tax benefits from equity compensation plans
    
    
    981
    
    
    
    13,954Payments on acquisition debt
    
    
    
    
    
    
    (21,862
    )Net cash provided by (used for) financing activities
    
    
    120,848
    
    
    
    (118,648
    )Effects of exchange rates on cash
    
    
    (4,980
    )
    
    
    5,795Net increase in cash and cash equivalents
    
    
    475,380
    
    
    
    58,535Cash and cash equivalents, beginning of period
    
    
    129,744
    
    
    
    58,680Cash and cash equivalents, end of period
    
    $
    605,124
    
    
    $
    117,215Supplemental disclosures of cash flow information:Cash paid for income taxes
    
    $
    26,632
    
    
    $
    61,818Cash paid for interest
    
    $
    1,303
    
    
    $
    1,489Non-cash financing and investing activities:Liabilities created in connection with business combinations
    
    $
    4,049
    
    
    $
    325
 See accompanying notes.
  5




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##### Table of Contents



MONSTER WORLDWIDE, INC.
 
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 (dollars in thousands, except per share amounts)
 (unaudited)
 1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION
 Description of Business
  Basis of Presentation
   Fair Value Measurements
  6




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2. EARNINGS PER SHARE AND STOCK-BASED COMPENSATION
 Earnings Per Share
   Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,(thousands of shares)
    
    2008
    
    
    2007
    
    
    2008
    
    
    2007Basic weighted average shares outstanding
    
    
    120,057
    
    
    
    129,499
    
    
    
    121,213
    
    
    
    129,893Effect of common stock equivalents  stock options and non-
vested stock under employee compensation plans
    
    
    665
    
    
    
    1,258
    
    
    
    671
    
    
    
    2,151Diluted weighted average shares outstanding
    
    
    120,722
    
    
    
    130,757
    
    
    
    121,884
    
    
    
    132,044Weighted average anti-dilutive common stock equivalents
    
    
    8,864
    
    
    
    1,433
    
    
    
    7,982
    
    
    
    1,109
 Stock-Based Compensation
 Share-Based Payment
  7




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Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2008
    
    
    2007
    
    
    2008
    
    
    2007Non-vested stock, included in salaries and related
    
    $
    7,437
    
    
    $
    2,871
    
    
    $
    20,994
    
    
    $
    24,116Non-vested stock, included in restructuring and
other special charges
    
    
    
    
    
    
    
    
    
    
    1,162
    
    
    
    Stock options, included in salaries and related
    
    
    165
    
    
    
    104
    
    
    
    474
    
    
    
    337Total
    
    $
    7,602
    
    
    $
    2,975
    
    
    $
    22,630
    
    
    $
    24,453
  WeightedWeighted
    
    
    AverageAverage Exercise
    
    
    Contractual
    
    
    Aggregate(thousands of shares)
    
    Shares
    
    
    Price
    
    
    Term (in years)
    
    
    Intrinsic ValueOutstanding at January 1, 2008
    
    
    6,876
    
    
    $
    29.13Granted
    
    
    138
    
    
    
    27.77Exercised
    
    
    (63
    )
    
    
    18.26Forfeited/expired/cancelled
    
    
    (165
    )
    
    
    42.11Outstanding at September 30, 2008
    
    
    6,786
    
    
    $
    29.00
    
    
    
    4.3
    
    
    $
    3,707Options exercisable at September 30, 2008
    
    
    5,952
    
    
    $
    28.57
    
    
    
    4.0
    
    
    $
    3,707
   Weighted Average Fair(thousands of shares)
    
    Shares
    
    
    Value at Grant DateNon-vested at January 1, 2008
    
    
    1,671
    
    
    $
    39.67Granted
    
    
    3,753
    
    
    
    26.79Forfeited
    
    
    (682
    )
    
    
    33.93Vested
    
    
    (253
    )
    
    
    40.78Non-vested at September 30, 2008
    
    
    4,489
    
    
    $
    29.74
  8




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3. DISCONTINUED OPERATIONS
    Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2008
    
    
    2007
    
    
    2008
    
    
    2007Revenue
    
    $
    190
    
    
    $
    7,002
    
    
    $
    6,348
    
    
    $
    21,364Loss before income taxes
    
    
    (397
    )
    
    
    (1,099
    )
    
    
    (18,654
    )
    
    
    (4,264
    )Income tax benefit
    
    
    139
    
    
    
    444
    
    
    
    29,494
    
    
    
    1,658Income (loss) from discontinued operations, net of tax
    
    $
    (258
    )
    
    $
    (655
    )
    
    $
    10,840
    
    
    $
    (2,606
    )
  9




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##### Table of Contents



4. BUSINESS COMBINATIONS
  Acquired Business
    
    Acquisition Date
    
    Business SegmentTrovix Inc.
    
    July 31, 2008
    
    Careers - North AmericaAffinity Labs Inc.
    
    January 3, 2008
    
    Internet Advertising & FeesArbeidskamerater AS (Norway)
    
    January 10, 2007
    
    Careers - International
      10




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##### Table of Contents



Accrued Integration and Restructuring Costs
   5. FAIR VALUE MEASUREMENT
   Level 1
    
    
    Level 2
    
    
    Level 3
    
    
    TotalU.S. treasury money market funds
    
    $
    376,794
    
    
    $
    
    
    
    $
    
    
    
    $
    376,794Bank time deposits
    
    
    
    
    
    
    30,291
    
    
    
    
    
    
    
    30,291Municipal bonds
    
    
    
    
    
    
    5,679
    
    
    
    
    
    
    
    5,679Sovereign commercial paper
    
    
    
    
    
    
    108,025
    
    
    
    
    
    
    
    108,025U.S. and foreign government obligations
    
    
    
    
    
    
    26,520
    
    
    
    
    
    
    
    26,520Tax exempt auction rate bonds (Note 6)
    
    
    
    
    
    
    
    
    
    
    93,728
    
    
    
    93,728Total
    
    $
    376,794
    
    
    $
    170,515
    
    
    $
    93,728
    
    
    $
    641,037
   Three Months Ended
    
    
    Nine Months endedSeptember 30, 2008
    
    
    September 30, 2008Balance beginning of period
    
    $
    99,330
    
    
    $
    Transfer in
    
    
    
    
    
    
    357,228Unrealized gain (loss) included in other comprehensive income
    
    
    398
    
    
    
    (1,022
    )Net settlements
    
    
    (6,000
    )
    
    
    (262,478
    )Balance September 30, 2008
    
    $
    93,728
    
    
    $
    93,728
  11




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##### Table of Contents



6. INVESTMENTS
 Marketable Securities
       12




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##### Table of Contents



Gross unrealized
    
    
    Gross unrealized
    
    
    EstimatedCost
    
    
    losses
    
    
    gains
    
    
    fair valueCurrentMunicipal bonds
    
    $
    5,675
    
    
    $
    
    
    
    $
    4
    
    
    $
    5,679Bank time deposits
    
    
    2,590
    
    
    
    
    
    
    
    
    
    
    
    2,590U.S. and
foreign government obligations
    
    
    25,557
    
    
    
    3
    
    
    
    
    
    
    
    25,554Total
    
    $
    33,822
    
    
    $
    3
    
    
    $
    4
    
    
    $
    33,823Non-currentTax-exempt auction rate bonds
    
    $
    94,750
    
    
    $
    1,022
    
    
    $
    
    
    
    $
    93,728Total
    
    $
    94,750
    
    
    $
    1,022
    
    
    $
    
    
    
    $
    93,728
  The Meaning of Other-Than-Temporary-Impairment and Its Application to Certain
Investments
 Equity Investments
    13




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##### Table of Contents



Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2008
    
    
    2007
    
    
    2008
    
    
    2007ChinaHR
    
    $
    (2,323
    )
    
    $
    (3,298
    )
    
    $
    (8,324
    )
    
    $
    (8,561
    )Finland
    
    
    237
    
    
    
    224
    
    
    
    824
    
    
    
    1,101Loss in equity interests, net
    
    $
    (2,086
    )
    
    $
    (3,074
    )
    
    $
    (7,500
    )
    
    $
    (7,460
    )
 7. RESTRUCTURING AND OTHER SPECIAL CHARGES
   14




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##### Table of Contents



December 31,
    
    
    
    
    
    
    Cash
    
    
    Non-Cash
    
    
    September 30,2007
    
    
    Expense
    
    
    Payments
    
    
    Utilization(1)
    
    
    2008Workforce reduction
    
    $
    6,226
    
    
    $
    9,858
    
    
    $
    (11,801
    )
    
    $
    (1,162
    )
    
    $
    3,121Fixed asset write-offs
    
    
    
    
    
    
    2,771
    
    
    
    
    
    
    
    (2,771
    )
    
    
    Consolidation of office facilities
    
    
    459
    
    
    
    338
    
    
    
    (422
    )
    
    
    
    
    
    
    375Other costs and professional fees
    
    
    505
    
    
    
    284
    
    
    
    (749
    )
    
    
    
    
    
    
    40Total
    
    $
    7,190
    
    
    $
    13,251
    
    
    $
    (12,972
    )
    
    $
    (3,933
    )
    
    $
    3,536
 (1)
    
    Non-cash utilization includes accelerated vesting of stock-based compensation and the write-off
of fixed assets. 8. PROPERTY AND EQUIPMENT, NET
 September 30, 2008
    
    
    December 31, 2007Capitalized software costs
    
    $
    171,119
    
    
    $
    135,935Furniture and equipment
    
    
    31,044
    
    
    
    32,573Leasehold improvements
    
    
    30,020
    
    
    
    27,272Computer and communications equipment
    
    
    159,061
    
    
    
    137,633391,244
    
    
    
    333,413Less: accumulated depreciation
    
    
    238,892
    
    
    
    210,016Property and equipment, net
    
    $
    152,352
    
    
    $
    123,397
  9. FINANCING AGREEMENT
    15




---



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10. STOCKHOLDERS EQUITY
 Common and Class B Common Stock
   Share Repurchase Plan and Share Withholdings
   16




---



##### Table of Contents



11. COMPREHENSIVE INCOME
  Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2008
    
    
    2007
    
    
    2008
    
    
    2007Net income
    
    $
    42,778
    
    
    $
    33,301
    
    
    $
    96,199
    
    
    $
    101,399Foreign currency translation adjustment and other
    
    
    (56,153
    )
    
    
    22,599
    
    
    
    (29,906
    )
    
    
    28,109Net unrealized gain (loss) on available-for-sale securities
    
    
    349
    
    
    
    118
    
    
    
    (1,021
    )
    
    
    72Comprehensive (loss) income
    
    $
    (13,026
    )
    
    $
    56,018
    
    
    $
    65,272
    
    
    $
    129,580
 12. SEGMENT AND GEOGRAPHIC DATA
   Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,Revenue
    
    2008
    
    
    2007
    
    
    2008
    
    
    2007Careers  North America
    
    $
    155,165
    
    
    $
    175,309
    
    
    $
    502,983
    
    
    $
    533,807Careers  International
    
    
    142,441
    
    
    
    121,687
    
    
    
    452,386
    
    
    
    344,738Internet Advertising & Fees
    
    
    34,583
    
    
    
    33,146
    
    
    
    97,586
    
    
    
    97,412Revenue
    
    $
    332,189
    
    
    $
    330,142
    
    
    $
    1,052,955
    
    
    $
    975,957
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,Operating Income
    
    2008
    
    
    2007
    
    
    2008
    
    
    2007Careers  North America
    
    $
    43,120
    
    
    $
    51,455
    
    
    $
    141,230
    
    
    $
    171,912Careers  International
    
    
    30,231
    
    
    
    7,344
    
    
    
    71,790
    
    
    
    27,360Internet Advertising & Fees
    
    
    4,726
    
    
    
    3,487
    
    
    
    7,951
    
    
    
    15,228Corporate expenses
    
    
    (15,504
    )
    
    
    (11,289
    )
    
    
    (93,805
    )
    
    
    (60,707
    )Operating income
    
    $
    62,573
    
    
    $
    50,997
    
    
    $
    127,166
    
    
    $
    153,793
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,Depreciation and Amortization
    
    2008
    
    
    2007
    
    
    2008
    
    
    2007Careers  North America
    
    $
    6,372
    
    
    $
    5,403
    
    
    $
    17,322
    
    
    $
    14,230Careers  International
    
    
    6,560
    
    
    
    4,785
    
    
    
    18,281
    
    
    
    12,988Internet Advertising & Fees
    
    
    1,661
    
    
    
    1,511
    
    
    
    4,547
    
    
    
    3,960Corporate expenses
    
    
    117
    
    
    
    146
    
    
    
    353
    
    
    
    684Depreciation and amortization
    
    $
    14,710
    
    
    $
    11,845
    
    
    $
    40,503
    
    
    $
    31,862
  17




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##### Table of Contents



Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,Restructuring and Other Special Charges
    
    2008
    
    
    2007
    
    
    2008
    
    
    2007Careers  North America
    
    $
    651
    
    
    $
    4,948
    
    
    $
    4,607
    
    
    $
    4,948Careers  International
    
    
    2,236
    
    
    
    4,291
    
    
    
    6,752
    
    
    
    4,291Internet Advertising & Fees
    
    
    251
    
    
    
    1,244
    
    
    
    1,370
    
    
    
    1,244Corporate expenses
    
    
    454
    
    
    
    672
    
    
    
    522
    
    
    
    672Restructuring and other special charges
    
    $
    3,592
    
    
    $
    11,155
    
    
    $
    13,251
    
    
    $
    11,155
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,Revenue by Geographic Region
    
    2008
    
    
    2007
    
    
    2008
    
    
    2007United States
    
    $
    183,208
    
    
    $
    202,814
    
    
    $
    579,469
    
    
    $
    614,431Germany
    
    
    33,669
    
    
    
    27,550
    
    
    
    108,664
    
    
    
    77,312Other foreign
    
    
    115,312
    
    
    
    99,778
    
    
    
    364,822
    
    
    
    284,214Revenue
    
    $
    332,189
    
    
    $
    330,142
    
    
    $
    1,052,955
    
    
    $
    975,957
  Total Assets by Segment
    
    September 30, 2008
    
    
    December 31, 2007Careers  North America
    
    $
    635,596
    
    
    $
    673,353Careers  International
    
    
    696,395
    
    
    
    721,679Internet Advertising & Fees
    
    
    193,772
    
    
    
    136,851Corporate
    
    
    535,849
    
    
    
    424,057Shared assets (a)
    
    
    141,362
    
    
    
    107,140Discontinued operations
    
    
    
    
    
    
    14,730Total assets
    
    $
    2,202,974
    
    
    $
    2,077,810
 (a)
    
    Shared assets represent assets that provide economic benefit to all of the Companys
operating segments. Shared assets are not allocated to operating segments for internal
reporting or decision-making purposes.  18




---



##### Table of Contents



Long-lived Assets by Geographic Region (a)
    
    September 30, 2008
    
    
    December 31, 2007United States
    
    $
    692,816
    
    
    $
    541,580International
    
    
    203,394
    
    
    
    232,502Total long-lived assets
    
    $
    896,210
    
    
    $
    774,082
 (a)
    
    Long-lived assets are composed of goodwill, property and equipment and other intangible assets. 13. INCOME TAXES
  Accounting for
Uncertainty in Income Taxes-an interpretation of FASB Statement No.109
  14. STOCK OPTION INVESTIGATIONS AND LITIGATION
  Stock Option Investigations and Related Litigation
   19




---



##### Table of Contents



Investigations.
  ERISA Action (Taylor v. McKelvey et al., 06 CV 8322 (S.D.N.Y.)).
  Derivative Actions (In re Monster Worldwide, Inc. Stock Option Derivative Litigation, Master
Docket 1:06:cv 04622 (S.D.N.Y.) and Louisiana Municipal Police Employees Retirement System, et al.
v. Paul Camara, et al., Index. No. 06 108700 (Supreme, N.Y. County)).
    20




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##### Table of Contents



21




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##### Table of Contents



Securities Class Action (In re Monster Worldwide Securities Litigation, 07 Civ. 2237
(S.D.N.Y.)).
  Dispute with Option Holders.
  Consequences Under the Internal Revenue Code.
    22




---



##### Table of Contents



General.
  Security Breach
  Litigation Relating to the Companys Discontinued Tickle Business
   23




---



##### Table of Contents



Patent Claim
 Pitchware, Inc. v. Monster
Worldwide, Inc.; CareerBuilder LLC; Gannett Co., Inc.; The McClatchy Company; Microsoft
Corporation; and Career Marketplace, Inc.
  24




---



##### Table of Contents



Report of Independent Registered Public Accounting Firm
 
      
  25




---



##### Table of Contents



ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  Item 1A. Risk Factors
 Overview
      26




---



##### Table of Contents



Business Combinations
  Acquired Business
    
    Acquisition Date
    
    Business SegmentTrovix Inc.
    
    July 31, 2008
    
    Careers  North AmericaAffinity Labs Inc.
    
    January 3, 2008
    
    Internet Advertising & FeesArbeidskamerater AS (Norway)
    
    January 10, 2007
    
    Careers  International
  Discontinued Operations
   Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,(dollars in thousands)
    
    2008
    
    
    2007
    
    
    2008
    
    
    2007Revenue
    
    $
    190
    
    
    $
    7,002
    
    
    $
    6,348
    
    
    $
    21,364Loss before income taxes
    
    
    (397
    )
    
    
    (1,099
    )
    
    
    (18,654
    )
    
    
    (4,264
    )Income tax benefit
    
    
    139
    
    
    
    444
    
    
    
    29,494
    
    
    
    1,658Income (loss) from discontinued operations, net of tax
    
    $
    (258
    )
    
    $
    (655
    )
    
    $
    10,840
    
    
    $
    (2,606
    )
  27




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##### Table of Contents



Restructuring Plan
  Results of Operations
  Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2008
    
    
    2007
    
    
    2008
    
    
    2007Revenue
    
    
    100.0
    %
    
    
    100.0
    %
    
    
    100.0
    %
    
    
    100.0
    %Salaries and related
    
    
    41.1
    %
    
    
    38.5
    %
    
    
    39.2
    %
    
    
    40.3
    %Office and general
    
    
    21.6
    %
    
    
    21.0
    %
    
    
    21.0
    %
    
    
    20.5
    %Marketing and promotion
    
    
    17.4
    %
    
    
    21.7
    %
    
    
    22.7
    %
    
    
    22.3
    %Provision for legal settlements, net
    
    
    0.0
    %
    
    
    0.0
    %
    
    
    3.8
    %
    
    
    0.0
    %Restructuring and other special charges
    
    
    1.1
    %
    
    
    3.4
    %
    
    
    1.3
    %
    
    
    1.1
    %Total operating expenses
    
    
    81.2
    %
    
    
    84.6
    %
    
    
    87.9
    %
    
    
    84.2
    %Operating income
    
    
    18.8
    %
    
    
    15.4
    %
    
    
    12.1
    %
    
    
    15.8
    %Interest and other, net
    
    
    1.6
    %
    
    
    2.0
    %
    
    
    1.5
    %
    
    
    1.9
    %Income from continuing operations before income taxes
and loss in equity interests
    
    
    20.4
    %
    
    
    17.4
    %
    
    
    13.6
    %
    
    
    17.7
    %Income taxes
    
    
    6.8
    %
    
    
    6.2
    %
    
    
    4.8
    %
    
    
    6.3
    %Loss in equity interest, net
    
    
    (0.6
    )%
    
    
    (0.9
    )%
    
    
    (0.7
    )%
    
    
    (0.8
    )%Income from continuing operations
    
    
    13.0
    %
    
    
    10.3
    %
    
    
    8.1
    %
    
    
    10.7
    %Income (loss) from discontinued operations, net of tax
    
    
    -0.1
    %
    
    
    -0.2
    %
    
    
    1.0
    %
    
    
    -0.3
    %Net income
    
    
    12.9
    %
    
    
    10.1
    %
    
    
    9.1
    %
    
    
    10.4
    %
  28




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##### Table of Contents



Consolidated Revenue, Operating Expenses and Operating Income
  % of
    
    
    
    
    
    
    % of
    
    
    Increase
    
    
    Increase(dollars in thousands)
    
    2008
    
    
    Revenue
    
    
    2007
    
    
    Revenue
    
    
    (Decrease)
    
    
    (Decrease)Revenue
    
    $
    332,189
    
    
    
    100.0
    %
    
    $
    330,142
    
    
    
    100.0
    %
    
    $
    2,047
    
    
    
    0.6
    %Salaries and related
    
    
    136,506
    
    
    
    41.1
    %
    
    
    126,940
    
    
    
    38.5
    %
    
    
    9,566
    
    
    
    7.5
    %Office and general
    
    
    71,834
    
    
    
    21.6
    %
    
    
    69,466
    
    
    
    21.0
    %
    
    
    2,368
    
    
    
    3.4
    %Marketing and promotion
    
    
    57,684
    
    
    
    17.4
    %
    
    
    71,584
    
    
    
    21.7
    %
    
    
    (13,900
    )
    
    
    (19.4
    )%Restructuring and other special charges
    
    
    3,592
    
    
    
    1.1
    %
    
    
    11,155
    
    
    
    3.4
    %
    
    
    (7,563
    )
    
    
    (67.8
    )%Operating expenses
    
    
    269,616
    
    
    
    81.2
    %
    
    
    279,145
    
    
    
    84.6
    %
    
    
    (9,529
    )
    
    
    (3.4
    )%Operating income
    
    $
    62,573
    
    
    
    18.8
    %
    
    $
    50,997
    
    
    
    15.4
    %
    
    $
    11,576
    
    
    
    22.7
    %
      29




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##### Table of Contents



Careers  North America
  % of
    
    
    
    
    
    
    % of
    
    
    $ Increase
    
    
    % Increase(dollars in thousands)
    
    2008
    
    
    Revenue
    
    
    2007
    
    
    Revenue
    
    
    (Decrease)
    
    
    (Decrease)Revenue
    
    $
    155,165
    
    
    
    100.0
    %
    
    $
    175,309
    
    
    
    100.0
    %
    
    $
    (20,144
    )
    
    
    (11.5
    )%Selling, general and administrative (a)
    
    
    102,649
    
    
    
    66.2
    %
    
    
    117,720
    
    
    
    67.2
    %
    
    
    (15,071
    )
    
    
    (12.8
    )%Depreciation and amortization (b)
    
    
    9,396
    
    
    
    6.1
    %
    
    
    6,134
    
    
    
    3.5
    %
    
    
    3,262
    
    
    
    53.2
    %Operating income
    
    $
    43,120
    
    
    
    27.8
    %
    
    $
    51,455
    
    
    
    29.4
    %
    
    $
    (8,335
    )
    
    
    (16.2
    )%
 (a)
    
    Includes restructuring and other special charges (credits) of $(273) and $4,881 in 2008
and 2007, respectively and $3,027 for security breach remediation in
2007.(b)
    
    Includes $2,100 and $664 of amortization of stock-based compensation in 2008 and 2007,
respectively; restructuring and other special charges in 2008 of $924 and $67 for non-cash
write-offs in 2008 and 2007, respectively.     30




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##### Table of Contents



Careers  International
  % of
    
    
    
    
    
    
    % of
    
    
    $ Increase
    
    
    % Increase(dollars in thousands)
    
    2008
    
    
    Revenue
    
    
    2007
    
    
    Revenue
    
    
    (Decrease)
    
    
    (Decrease)Revenue
    
    $
    142,441
    
    
    
    100.0
    %
    
    $
    121,687
    
    
    
    100.0
    %
    
    $
    20,754
    
    
    
    17.1
    %Selling, general and administrative (a)
    
    
    103,381
    
    
    
    72.6
    %
    
    
    108,791
    
    
    
    89.4
    %
    
    
    (5,410
    )
    
    
    (5.0
    )%Depreciation and amortization (b)
    
    
    8,829
    
    
    
    6.2
    %
    
    
    5,552
    
    
    
    4.6
    %
    
    
    3,277
    
    
    
    59.0
    %Operating income
    
    $
    30,231
    
    
    
    21.2
    %
    
    $
    7,344
    
    
    
    6.0
    %
    
    $
    22,887
    
    
    
    311.6
    %
 (a)
    
    Includes costs for restructuring and other special charges of $2,236 and $4,291 in 2008 and
2007, respectively and $1,954 for security breach remediation in 2007.(b)
    
    Includes $2,269 and $767 of amortization of stock-based compensation in 2008 and 2007,
respectively.     31




---



##### Table of Contents



Internet Advertising & Fees
  % of
    
    
    
    
    
    
    % of
    
    
    $ Increase
    
    
    % Increase(dollars in thousands)
    
    2008
    
    
    Revenue
    
    
    2007
    
    
    Revenue
    
    
    (Decrease)
    
    
    (Decrease)Revenue
    
    $
    34,583
    
    
    
    100.0
    %
    
    $
    33,146
    
    
    
    100.0
    %
    
    $
    1,437
    
    
    
    4.3
    %Selling, general and administrative (a)
    
    
    27,158
    
    
    
    78.5
    %
    
    
    27,830
    
    
    
    84.0
    %
    
    
    (672
    )
    
    
    (2.4
    )%Depreciation and amortization (b)
    
    
    2,699
    
    
    
    7.8
    %
    
    
    1,829
    
    
    
    5.5
    %
    
    
    870
    
    
    
    47.6
    %Operating income
    
    $
    4,726
    
    
    
    13.7
    %
    
    $
    3,487
    
    
    
    10.5
    %
    
    $
    1,239
    
    
    
    35.5
    %
 (a)
    
    Includes costs for restructuring and other special charges of $251and $1,244 in 2008 and
2007, respectively and $673 for security breach remediation in 2007.(b)
    
    Includes $1,038 and $318 of amortization of stock-based compensation in 2008 and 2007,
respectively.    Loss in Equity Interests, net
   32




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##### Table of Contents



Income Taxes
  (dollars in thousands)
    
    2008
    
    
    2007
    
    
    $ Change
    
    
    % ChangeIncome from continuing
operations before
income taxes and equity
interests
    
    $
    67,856
    
    
    $
    57,504
    
    
    $
    10,352
    
    
    
    18.0
    %Income taxes
    
    
    22,734
    
    
    
    20,474
    
    
    
    2,260
    
    
    
    11.0
    %Effective tax rate
    
    
    33.5
    %
    
    
    35.6
    %
  Discontinued Operations, Net of Tax
  Earnings Per Share
   33




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##### Table of Contents



The Nine Months Ended September 30, 2008 Compared to the Nine Months Ended September 30, 2007
 Consolidated Revenue, Operating Expenses and Operating Income
  % of
    
    
    
    
    
    
    % of
    
    
    Increase
    
    
    % Increase(dollars in thousands)
    
    2008
    
    
    Revenue
    
    
    2007
    
    
    Revenue
    
    
    (Decrease)
    
    
    (Decrease)Revenue
    
    $
    1,052,955
    
    
    
    100.0
    %
    
    $
    975,957
    
    
    
    100.0
    %
    
    $
    76,998
    
    
    
    7.9
    %Salaries and related
    
    
    412,833
    
    
    
    39.2
    %
    
    
    393,259
    
    
    
    40.3
    %
    
    
    19,574
    
    
    
    5.0
    %Office and general
    
    
    221,091
    
    
    
    21.0
    %
    
    
    200,089
    
    
    
    20.5
    %
    
    
    21,002
    
    
    
    10.5
    %Marketing and promotion
    
    
    238,514
    
    
    
    22.7
    %
    
    
    217,661
    
    
    
    22.3
    %
    
    
    20,853
    
    
    
    9.6
    %Provision for legal settlements, net
    
    
    40,100
    
    
    
    3.8
    %
    
    
    
    
    
    
    0.0
    %
    
    
    40,100
    
    
    
    Restructuring and other special charges
    
    
    13,251
    
    
    
    1.3
    %
    
    
    11,155
    
    
    
    1.1
    %
    
    
    2,096
    
    
    
    18.8
    %Operating expenses
    
    
    925,789
    
    
    
    87.9
    %
    
    
    822,164
    
    
    
    84.2
    %
    
    
    103,625
    
    
    
    12.6
    %Operating income
    
    $
    127,166
    
    
    
    12.1
    %
    
    $
    153,793
    
    
    
    15.8
    %
    
    $
    (26,627
    )
    
    
    (17.3
    )%
     34




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##### Table of Contents



Careers  North America
  % of
    
    
    
    
    
    
    % of
    
    
    $ Increase
    
    
    % Increase(dollars in thousands)
    
    2008
    
    
    Revenue
    
    
    2007
    
    
    Revenue
    
    
    (Decrease)
    
    
    (Decrease)Revenue
    
    $
    502,983
    
    
    
    100.0
    %
    
    $
    533,807
    
    
    
    100.0
    %
    
    $
    (30,824
    )
    
    
    (5.8
    )%Selling, general and administrative (a)
    
    
    335,229
    
    
    
    66.6
    %
    
    
    344,223
    
    
    
    64.5
    %
    
    
    (8,994
    )
    
    
    (2.6
    )%Depreciation and amortization (b)
    
    
    26,524
    
    
    
    5.3
    %
    
    
    17,672
    
    
    
    3.3
    %
    
    
    8,852
    
    
    
    50.1
    %Operating income
    
    $
    141,230
    
    
    
    28.1
    %
    
    $
    171,912
    
    
    
    32.2
    %
    
    $
    (30,682
    )
    
    
    (17.8
    )%
 (a)
    
    Includes restructuring and other special charges of $674 and $4,881 in 2008 and 2007
respectively; and security breach remediation of $224 and $3,027 in 2008 and 2007
respectively.(b)
    
    Includes $5,269 and $3,442 of amortization of stock-based compensation in 2008 and 2007,
respectively; restructuring and other special charges in 2008 of $1,162 for non-cash
stock-based compensation; and $2,771 and $67 for non-cash write-offs in 2008 and 2007
respectively.     35




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##### Table of Contents



Careers  International
  % of
    
    
    
    
    
    
    % of
    
    
    $ Increase
    
    
    % Increase(dollars in thousands)
    
    2008
    
    
    Revenue
    
    
    2007
    
    
    Revenue
    
    
    (Decrease)
    
    
    (Decrease)Revenue
    
    $
    452,386
    
    
    
    100.0
    %
    
    $
    344,738
    
    
    
    100.0
    %
    
    $
    107,648
    
    
    
    31.2
    %Selling, general and administrative (a)
    
    
    356,303
    
    
    
    78.8
    %
    
    
    301,886
    
    
    
    87.6
    %
    
    
    54,417
    
    
    
    18.0
    %Depreciation and amortization (b)
    
    
    24,293
    
    
    
    5.4
    %
    
    
    15,492
    
    
    
    4.5
    %
    
    
    8,801
    
    
    
    56.8
    %Operating income
    
    $
    71,790
    
    
    
    15.9
    %
    
    $
    27,360
    
    
    
    7.9
    %
    
    $
    44,430
    
    
    
    162.4
    %
 (a)
    
    Includes costs for restructuring and special charges of $6,752 and $4,291 in 2008 and
2007, respectively and; $186 and $1,954 for security breach remediation in 2008 and 2007,
respectively.(b)
    
    Includes $6,012 and $2,504 of amortization of stock-based compensation in 2008 and
2007, respectively.     36




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##### Table of Contents



Internet Advertising & Fees
  % of
    
    
    
    
    
    
    % of
    
    
    $ Increase
    
    
    % Increase(dollars in thousands)
    
    2008
    
    
    Revenue
    
    
    2007
    
    
    Revenue
    
    
    (Decrease)
    
    
    (Decrease)Revenue
    
    $
    97,586
    
    
    
    100.0
    %
    
    $
    97,412
    
    
    
    100.0
    %
    
    $
    174
    
    
    
    0.2
    %Selling, general and administrative (a)
    
    
    81,861
    
    
    
    83.9
    %
    
    
    77,188
    
    
    
    79.2
    %
    
    
    4,673
    
    
    
    6.1
    %Depreciation and amortization (b)
    
    
    7,774
    
    
    
    8.0
    %
    
    
    4,996
    
    
    
    5.1
    %
    
    
    2,778
    
    
    
    55.6
    %Operating income
    
    $
    7,951
    
    
    
    8.1
    %
    
    $
    15,228
    
    
    
    15.6
    %
    
    $
    (7,277
    )
    
    
    (47.8
    )%
 (a)
    
    Includes costs for restructuring and other special charges of $1,370 and $1,244 for
2008 and 2007, respectively and; for security breach remediation of $41and $673 in 2008 and
2007, respectively.(b)
    
    Includes $3,227 and $1,036 of amortization of stock-based compensation in 2008 and
2007, respectively.    Loss in Equity Interests, Net
   37




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##### Table of Contents



Income Taxes
  (dollars in thousands)
    
    2008
    
    
    2007
    
    
    $ Change
    
    
    % ChangeIncome from
continuing operations
before income taxes
and equity interests
    
    $
    142,889
    
    
    $
    172,616
    
    
    $
    (29,727
    )
    
    
    (17.2
    )%Income taxes
    
    
    50,030
    
    
    
    61,151
    
    
    
    (11,121
    )
    
    
    (18.2
    )%Effective tax rate
    
    
    35.0
    %
    
    
    35.4
    %
  Discontinued Operations, Net of Tax
  Earnings Per Share
  Financial Condition
  September 30,
    
    
    December 31,
    
    
    Change(dollars in thousands)
    
    2008
    
    
    2007
    
    
    $
    
    
    %Cash and cash equivalents
    
    $
    605,124
    
    
    $
    129,744
    
    
    $
    475,380
    
    
    
    366.4
    %Marketable securities (current and non-current)
    
    
    127,551
    
    
    
    448,703
    
    
    
    (321,152
    )
    
    
    (71.6
    )%Cash and cash equivalents and marketable securities
    
    $
    732,675
    
    
    $
    578,447
    
    
    $
    154,228
    
    
    
    26.7
    %Percentage of total assets
    
    
    33.3
    %
    
    
    27.8
    %
  38




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##### Table of Contents



September 30,
    
    
    September 30,
    
    
    Change(dollars in thousands)
    
    2008
    
    
    2007
    
    
    $
    
    
    %Cash provided by operating activities of continuing
operations
    
    $
    244,853
    
    
    $
    210,101
    
    
    $
    34,752
    
    
    
    16.5
    %Cash provided by (used for) investing activities of
continuing operations
    
    
    118,750
    
    
    
    (33,352
    )
    
    
    152,102
    
    
    
    456.1
    %Cash (used for) provided by financing activities of
continuing operations
    
    
    120,848
    
    
    
    (118,648
    )
    
    
    239,496
    
    
    
    201.9
    %Cash used in discontinued operations
    
    
    (4,091
    )
    
    
    (5,361
    )
    
    
    1,270
    
    
    
    23.7
    %Effect of exchange rates on cash
    
    
    (4,980
    )
    
    
    5,795
    
    
    
    (10,775
    )
    
    
    (185.9
    )%
       39




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##### Table of Contents



40




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##### Table of Contents



Critical Accounting Estimates
  Basis of Presentation and Significant
Accounting Policies Item 8,
Financial Statements and Supplementary Data"
 Revenue Recognition
 Careers (North America and International).
 Internet Advertising & Fees.
  41




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##### Table of Contents



Fair Value Measurements
 The Meaning of Other-Than-Temporary-Impairment and Its Application to Certain Investments
 Asset Impairment
 Business Combinations, Goodwill and Intangible Assets.
   Long-lived assets.
  42




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##### Table of Contents



Income Taxes
 Accounting for Income Taxes
  Stock-Based Compensation
 Share-Based Payment
 Equity Investments
  Recent Accounting Pronouncements
 Fair Value Measurements
 Business Combinations Business Combinations
  43




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##### Table of Contents



Noncontrolling Interests in Consolidated
Financial Statements
 Disclosures about Derivative Instruments and
Hedging Activities, an amendment of SFAS No. 133
 
 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
       44




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##### Table of Contents



ITEM 4. CONTROLS AND PROCEDURES
    45




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##### Table of Contents



PART IIOTHER INFORMATION
 
 ITEM 1. LEGAL PROCEEDINGS
  Stock Option Investigations and Related Litigation
  Investigations.
  ERISA Action (Taylor v. McKelvey et al., 06 CV 8322 (S.D.N.Y.)).
   46




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##### Table of Contents



Derivative Actions (In re Monster Worldwide, Inc. Stock Option Derivative Litigation, Master
Docket 1:06:cv 04622 (S.D.N.Y.) and Louisiana Municipal Police Employees Retirement System, et al.
v. Paul Camara, et al., Index. No. 06 108700 (Supreme, N.Y. County)).
       47




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##### Table of Contents



Securities Class Action (In re Monster Worldwide Securities Litigation, 07 Civ. 2237
(S.D.N.Y.)).
  Dispute with Option Holders.
   48




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##### Table of Contents



Consequences Under the Internal Revenue Code.
   General.
  Security Breach
   49




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##### Table of Contents



Litigation Relating to the Companys Discontinued Tickle Business
   Class B Common Stock
  Patent Claim
 Pitchware, Inc. v. Monster
Worldwide, Inc., CareerBuilder LLC, Gannett Co., Inc.; The McClatchy Company; Microsoft
Corporation; and Career Marketplace, Inc.
 
 ITEM 1A. RISK FACTORS
 Item 1A. Risk Factor Item 1A., Risk Factors
  50




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##### Table of Contents



ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
  Maximum DollarTotal Number
    
    
    Value of Sharesof Shares
    
    
    ThatPurchased as
    
    
    May Yet BeAverage
    
    
    Part of Publicly
    
    
    Purchased UnderTotal number
    
    
    Price
    
    
    Announced
    
    
    theof shares
    
    
    Paid Per
    
    
    Plans or
    
    
    Plans orPeriod
    
    repurchased
    
    
    Share
    
    
    Programs
    
    
    Programs(a)As of June 30, 2008
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    168,111,786July 1  July 31
    
    
    
    
    
    
    N/A
    
    
    
    
    
    
    
    168,111,786August 1  August 31
    
    
    780,573
    
    
    
    19.10
    
    
    
    780,573
    
    
    
    153,199,107September 1
 September 30
    
    
    1,394,415
    
    
    
    19.20
    
    
    
    1,394,415
    
    
    
    126,422,704Total
    
    
    2,174,988
    
    
    
    19.17
    
    
    
    2,174,988
    
    
    $
    126,422,704
 (a)
    
    On November 10, 2005, the Board of Directors approved a share repurchase plan, authorizing
the Company to purchase up to $100 million of shares of its common stock. The November 2005
share repurchase plan was utilized fully during 2007. On September 4, 2007, the Board approved
a share repurchase plan, authorizing the Company to purchase up to an additional $250 million
of shares of its common stock. On October 23, 2007, the Board authorized the Company to
purchase an additional $100 million of shares of its common stock under the share repurchase
plan. On January 30, 2008, the Board authorized the Company to purchase an additional
$100 million of shares of its common stock under the share repurchase plan. All current
repurchase plan authorizations expire on January 30, 2009. 
 ITEM 6. EXHIBITS.
  10.1
    
    
    Monster Worldwide, Inc. Amended and Restated Executive Incentive Plan.10.2
    
    
    Form of Monster Worldwide, Inc. Restricted Stock Agreement for grants of restricted stock
subject to performance vesting.10.3
    
    
    Form of Monster Worldwide, Inc. Restricted Stock Unit Agreement for grants of restricted
stock units subject to performance vesting.15.1
    
    
    Letter from BDO Seidman, LLP regarding unaudited interim financial information.31.1
    
    
    Certification by Salvatore Iannuzzi pursuant to Exchange Act Rules 13a-14(a)
and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
2002.31.2
    
    
    Certification by Timothy T. Yates pursuant to Exchange Act Rule 13a-14(a) and
15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
2002.32.1
    
    
    Certification by Salvatore Iannuzzi pursuant to 18 U.S.C. Section 1350, as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.32.2
    
    
    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.
  51




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##### Table of Contents



SIGNATURES
  MONSTER WORLDWIDE, INC.
(Registrant)Dated: November 4, 2008
    By:
    /s/ Salvatore IannuzziSalvatore IannuzziChairman, President and Chief
Executive Officer
(principal executive officer) Dated: November 4, 2008
    By:
    /s/ Timothy T. YatesTimothy T. YatesExecutive Vice President and
Chief Financial Officer
(principal financial officer) Dated: November 4, 2008
    By:
    /s/ James M. LangrockJames M. LangrockChief Accounting Officer and Senior
Vice President, Finance
(principal accounting officer)  52




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##### Table of Contents



EXHIBIT INDEX
 10.1
    
    
    Monster Worldwide, Inc. Amended and Restated Executive Incentive Plan.10.2
    
    
    Form of Monster Worldwide, Inc. Restricted Stock Agreement for grants of restricted stock
subject to performance vesting.10.3
    
    
    Form of Monster Worldwide, Inc. Restricted Stock Unit Agreement for grants of restricted
stock units subject to performance vesting.15.1
    
    
    Letter from BDO Seidman, LLP regarding unaudited interim financial information.31.1
    
    
    Certification by Salvatore Iannuzzi pursuant to Exchange Act Rules 13a-14(a)
and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
2002.31.2
    
    
    Certification by Timothy T. Yates pursuant to Exchange Act Rule 13a-14(a) and
15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
2002.32.1
    
    
    Certification by Salvatore Iannuzzi pursuant to 18 U.S.C. Section 1350, as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.32.2
    
    
    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.
  53