Business
Seek’s business is ‘rotten’ and carrying toxic debt, activist says – Sydney Morning Herald
Seek shares have dived after the recruitment giant was hit by claims it is rolling up online recruiting platforms with toxic levels of debt and making bogus claims….
“Companies we called about their job postings on the website even stated directly that the posts were fraudulent. Our due diligence also uncovered a whistleblower claim by a Chinese college student alleging that Zhaopin pays people to submit fake resumes. We think Zhaopins platform is rotten, which is devastating for Seeks prospects.”
Blue Orca said Seek has historically paid a dividend giving the impression that its business produces healthy profits and cash flows but the report states this impression…
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