Facebook to launch job posting service

Will launch joint venture with existing job-posting firms

The social networking site, Facebook, clearly wishes to give the recruiters a run for their money by turning into one very soon.

According to market sources, the company plans to launch its own job board in a joint venture with existing job-posting firms.

Facebook plans to  "aggregate the job postings of third-party providers, making them available for search by Facebook users" reports Wall Street Journal.

Anonymous sources revealed that three companies that are likely to team up with the networking site are BranchOut, Jobvite and Work4Labs.

Although Facebook is not planning a 'full-blown entry' into the market as a recruiter, it will undoubtedly threaten other professional networking sites such as LinkedIn. The global online job-recruitment industry is estimated to be as big as $4.3 billion.

The nitty-gritties have not been worked out and hence it is still unclear whether the job postings will be displayed in the news feed or whether the postings will only exist in a standalone section of the website.

However, the companies allegedly involved remain tightlipped. A Facebook spokesman told WSJ, "We don't comment on rumor and speculation." Similarly, representatives for BranchOut, JobVite and Work4Labs did not immediately respond to requests for comment.

The new launch could be as early as August, claim insiders.

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