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3.5 Million Marketin Budget Puts Newmonday In Pole Position - 09/2000

Newmonday takes major grip on UK online recruitment market

After gaining approval from the European Commission, newmonday.com is to go live. This site is a joint venture between the publishers VNU (operators of JobWorld) and one of the worlds largest traditional recruiters Randstad. No formal announcement of the launch had been made until the Commission granted permission.
Concern had been raised over the size of the market the venture could corner. Relieving this, an EU spokesman said ìHowever, the markets are defined, NewMonday.comís estimated market shares will be less than 15% and as it will be a new entrant there will be no addition of market sharesî.

Cap Gemini Ernst & Young will provide e-business solutions as part of NewMondayís infrastructure. The new venture will benefit from the backing of two sizable recruitment players, for example 3.5million has already been allocated to a marketing budget. Success of this unprecedented joint partnership may lead to other such large-scale tie-ups across the industry.