NEW YORK, U.S.: Two giants of the early internet job search era—CareerBuilder and Monster—have formally filed for bankruptcy protection, marking a dramatic fall for platforms that once defined the online recruitment industry.

The combined company, CareerBuilder + Monster, filed for Chapter 11 in Delaware on Tuesday, less than a year after the two brands merged in September. It now plans to sell off key parts of its business, including its flagship job board platform.

The company has entered agreements to sell its core job board operations to JobGet, an app that targets gig workers. It also plans to sell its government software services division to Canadian tech firm Valsoft, and two well-known websites—military.com and fastweb.com—to Canadian digital publisher Valnet.

All three buyers have agreed to serve as "stalking horse" bidders in the bankruptcy process, meaning their offers set a minimum price for other potential buyers. Terms of the deals were not disclosed.

According to filings, CareerBuilder + Monster has between $50 million and $100 million in assets, and $100 million to $500 million in liabilities. The company is seeking $20 million in financing to continue operations during the restructuring.

In a statement, CEO Jeff Furman said the company had been unable to overcome difficult economic conditions and intensifying competition. "CareerBuilder + Monster has faced a challenging and uncertain macroeconomic environment," he said. "We believe a court-supervised sale process represents the best path forward to preserve jobs and maximize value."

The company's decline reflects broader shifts in how people search for jobs. Once pioneers in online recruitment, CareerBuilder and Monster have struggled to stay relevant in a crowded market increasingly dominated by aggregators like Indeed, social platforms like LinkedIn, and newer mobile-first competitors.

Private equity firm Apollo Global Management and Dutch staffing giant Randstad jointly own CareerBuilder + Monster. The restructuring effort is being advised by consulting firm AlixPartners and law firm Latham & Watkins.

The company's job board and digital services were once considered essential tools for employers and job seekers alike. But in recent years, both brands have seen their market share erode as users migrated to more modern, mobile-friendly platforms with integrated networking and AI-powered search features.

Now, the sale process will determine whether the legacy brands can be revived under new ownership—or quietly fade into tech history.