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Five Dumbest Things on Wall Street: Feb. 26

Monster Fib

Looking for a job? Don't go to online recruiter Monster Worldwide (MWW - Get Report) for help.

Literally, don't go there.

Monster Worldwide, the parent of Monster.com, announced it was cutting 200 jobs from its global work force Monday, reducing it to around 5,600 people. The company said the layoffs have no connection to Monster's acquisition of HotJobs from Yahoo (YHOO) earlier this month for $225 million in cash.

Really? It seems to us like it must have something to do with the HotJobs purchase. $225 million could sure put a lot of people to work. Perhaps salary, unlike charity, does not begin at home.

"As we have been doing for the past 24 months, we continue to re-structure, re-organize and, importantly, re-invest in ways that we believe are necessary to meet our ever-growing and changing business needs," said Matthew Henson, Monster's vice president of public relations, in an email.

Here is our re-tort Matthew. You should re-verse your decision and re-tain your employees. Otherwise, you may be viewed as a monster.

Dumb-o-meter score: 75 -- It may not be the definition of irony, but an employment site laying off workers comes pretty darn close.

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