JobStreet.com delays profitability goal

Summary:By Anand Menon JobStreet.com, an employment Web site, is delaying its profitability goal as the global economic slowdown continues to impact its business.

By Anand Menon

JobStreet.com, an employment Web site, is delaying its profitability goal as the global economic slowdown continues to impact its business. Though its CEO had expected the company to return to profitability by the end of the year, one executive said that expectation now looks unlikely to happen. "It was not possible to avoid the recruitment slowdown in Singapore, Malaysia and India caused by the downturn in key industries such as electronics/IT and manufacturing," said Malek Ali, JobStreet's vice president of marketing. "Conservatively, we are looking at profitability by the middle of next year, but remain hopeful that it could be as early as the first quarter" of 2002, he said.

Staff Writer Anand Menon reported from Singapore.

Topics: Singapore, India, Malaysia

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