While many job boards have been forced to terminate employees, shut down offices, and aggressively launch and promote new features as a last-ditch effort to hang on to customers, a few seem to be flourishing because of the recession.
Case in point is TheLadders, a job site that caters exclusively to people who make $100K+. Despite being lambasted by their peers on a regular basis, job seekers seem to to feel pretty comfortable shelling out cash to this job board on a regular basis.
This must be true, because they’re expanding. I read this article today in Crain’s New York Business.com:
TheLadders.com, an employment site dedicated to $100,000-a-year-plus jobs, leased an additional 14,400 square feet in the Hudson Square neighborhood, bringing its total office space to roughly 60,000 square feet in three buildings owned by Trinity Real Estate.
The company is slated to move into about half of the seventh floor of 304 Hudson St., between Spring and Vandam streets, in May. The rent for the deal, which runs for two and a half years, is in the high $20-a-square-foot range.
The company needs additional space to allow for growth, said David Carvajal, whose title at TheLadders.com is vice president of people. Executives wanted the flexibility provided by a short-term lease, he added, because they plan to eventually house all their employees in one office. TheLadders.com also rents space at 137 Varick St. and 205 Hudson St.
Recession? What recession?
Popularity: unranked [?]
April 15th, 2009 at 12:09 pm
Not sure if this story still holds true. Heard that TheLadders had massive layoffs just this morning. Seems really contradictory to what they say in the Crain’s piece.
April 18th, 2009 at 9:57 pm
Contrary to Crains, on April 15th (Tax Day), Marc Cenendella sent an email out to all his employees individually announcing what building you should report to that morning at 830. We arrived at 205 Hudson to non friendly Vice Presidents and a check list of names.
1/3 of his workforce (almost 100 people) were then told they were being layed off immediately. For a company that always prided itself on its stance in the market place, as well as our financials it sure succommed to the recession. I’m not sure if Hiring the Incompetent C Level executives that they did was really the wisest of ideas.
I guess TheLadders isn’t recession proof after all. Blame it all on bad decisions. We have.
April 18th, 2009 at 9:59 pm
Google Dave Carvahal. You’ll find more than a VP of People.