Recruiter.com Group, Inc. - RCRT STOCK NEWS

Recruiter.com Group has launched a new content series focused on the impact of ChatGPT in talent acquisition. The series includes a LinkedIn Live event on February 2, 2023, at 11:30 am ET, a comprehensive eBook, and an article series detailing practical applications of ChatGPT in recruiting. Key highlights of the eBook include strategies for reaching candidates, creating job descriptions, and enhancing communication with applicants. This initiative aims to help organizations optimize their hiring processes and gain competitive advantages in attracting top talent.

Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW) will feature in an exclusive interview on The RedChip Money Report airing on Bloomberg TV on January 21, 2023, at 7 p.m. ET. The interview will cover the company's double-digit revenue growth and insights into the job market from CEO Evan Sohn. Bloomberg TV reaches approximately 73 million households in the U.S. Recruiter.com is an on-demand recruiting platform that provides flexible talent acquisition solutions for various business sizes, utilizing advanced AI and recruiting automation technologies.

Recruiter.com Group (NASDAQ:RCRT, RCRTW) announced a strategic partnership with FIRST, a global brand experience agency, to enhance recruitment solutions. Since launching the OnDemand Recruiting program in January 2022, they filled 114 job openings with a 70% success rate. The initiative adapted to evolving needs and saved over 55% in recruitment fees compared to traditional agencies. FIRST praised the program as transformative, highlighting a talent pool of 1,200 candidates. This partnership aims to support FIRST's growth objectives in 2023.

Recruiter.com Group (NASDAQ:RCRT, RCRTW) recently shared a shareholder letter highlighting its achievements from 2022 and outlining goals for the upcoming year. The company has streamlined operations and focused on monetizing its web platform. A notable decision was the divestiture of a software platform, generating capital and reducing expenses, which will allow a concentrated focus on its profitable OnDemand Recruiting product line. Despite macroeconomic uncertainties, the company remains optimistic about its operational efficiency and demand for its services in the evolving job market.

Recruiter.com Group has announced a strategic partnership with Multiplier, a global employment platform, aimed at enhancing international recruitment processes. This collaboration allows Recruiter.com to find talent while Multiplier manages payroll and compliance in over 150 countries. The partnership is set to support companies in hiring top talent worldwide, reflecting a growing trend towards borderless employment. Multiplier will also utilize Recruiter.com’s services to expand its own workforce in the coming year.

Recruiter.com Group, Inc. (NASDAQ:RCRT) announced a strategic partnership with Talent, Inc. aimed at enhancing their recruiting services. The partnership includes a sale of intellectual property related to their candidate sourcing platform and a revenue-sharing agreement for selling Talent, Inc.'s career services. This collaboration is expected to reduce development costs and create new revenue streams. CEO Evan Sohn highlighted the potential for significant value creation through tighter integration and mutual benefits.

Recruiter.com (NASDAQ:RCRT, RCRTW) reported a 11% year-over-year revenue increase for Q3 2022, totaling $7 million. The growth stemmed from its Recruiters on Demand segment. However, revenue dipped 2% from the previous quarter due to market volatility. Gross profit decreased 4.9% to $2.2 million, while total operating expenses fell 14% to $7.6 million. The net loss improved by 26% to $5.6 million, attributed to cost-cutting measures. The company is focusing on enhancing profitability and strategically managing its resources.

Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW) will host a conference call on November 14 at 4:30 PM EST to discuss its third quarter financial results for 2022. The results will be released at approximately 4:00 PM EST. The call will feature insights from Chairman and CEO Evan Sohn, alongside other executives. Interested participants can register for the webcast or join by phone. The webcast recording will be available for 90 days on the company’s investor page.

Recruiter.com Group, Inc. (NASDAQ:RCRT, RCRTW) announced a strategic reorganization aimed at enhancing shareholder value. Key measures include a 30% reduction in operating expenses through workforce optimization, with a significant headcount reduction and executive compensation cut. The company anticipates approximately $250,000 in monthly savings. Focusing on high-margin services like Recruiters on Demand, Recruiter.com aims to strengthen profitability and capitalize on growing demand in the talent acquisition sector.