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MASS. MOVERS

Monster will explore its alternatives

Mike Segar/Reuters/File 2009

Monster is cutting costs - and 7 percent of its workforce - to cope with competition from sites that offer less expensive ways to recruit employees.

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Monster Worldwide Inc., the international job-search company with its main offices in Maynard and New York, rose 11 percent for the biggest gain in the Russell 1000. The recruiting service has hired Stone Key Partners LLC and Bank of America Corp.’s Merrill Lynch unit to help it review its strategic alternatives. On Thursday, chief executive Salvatore Iannuzzi said he is weighing options to boost investor value.

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