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Seek Accused of Fake Job Posts | SEEK Shares Plunge & Trading Halt

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#SEK #Economy #HeiseSays
A recent Blue Orca Capital report has accused Seek’s Chinese platform Zhaopin of being flooded with fake job adverts and fake resumes. Given that Zaopin represents 48% of the companies consolidated revenue this is a very serious claim. Seek’s shares are in a trading halt until the 2nd of November awaiting an announcement, while Blue Orca Capital is shorting the shares and believe SEK should be valued at $7.20. How will Seek respond and will their shares tank on Monday?

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Comments

  3. Companies and HR organisations were posting fake job ads for years prior……..because they gather all your personal details via the resume, get a copy of your passport once they call you in for an initial interview, then other marketing and government organisations buy that info for analysis. Its a trap to get a source of income. THERE SHOULD BE A ROYAL COMMISSION INTO CORRUPT HR PRACTISES!!.

  10. When I use filters on Seek website, I have noted that the same job appears 2 or 3 times in the same region or the same job is announced in two different regions. So, when they announce an increase of “x” jobs advertising are they doubling these jobs? Are they inflating the numbers? Could anyone be honest about the real situation of Australia ?? economy? Cheers

  12. Not than I’m a savvy share market player by any means, but investing in online platforms has always seen to be a risk – they are very linked to “being the first” and fashionable. At least in manufacturing and bricks and mortar, sales is based on physical units – this stuff is all conceptual.

  13. Might need to sell my seek shares.. damn, was having a great run also. There will be a rebuttal from seek next mon, I'll see what to do from there. Blue orca has got some calls right in the past and have brought down companies. Pretty appalling if it's all true.

  18. Most ads have been market research for at least for the last 20 years , wake up people that these ads are total BS and these jobs just don't exist !!.

  22. This one time, around last year I was looking for a job for a friend of mine in health industry and an average pay for this particular position was between $48,000 and $57,000. This job that I looked at offered almost $90,000 without experience and I couldn't believe it. This job was from NSW Health and was also posted on their own website. I don't know if he applied for that job or not but that looked really suspicious.

  23. Seek is not the only one posting Fake job adds and what about all the Fake job providers funded by the Scomo Government. Just be very careful also when providing them with all your personal information . Beware of identity Fraud and Scams associated with these companies.

  25. These platforms are used to satisfy labour laws.For example before a 457 is allowed to work in a australian marine position that company must proof they advertised that position fairly.Bogus add tick in the box now hire cheaper worker.

  31. They did this recently with ChainLink in the crypto sphere – took out massive short position and then tried to drive the market down with a report full of FUD

  35. I have applied for 50 jobs in the last 2-3weeks, jobs that require ZERO technical skill. All of them have rejected me as a viable applicant, only when I applied directly to an employer did I get employed. Job agencies have polluted the job pool discouraging employers and job seekers alike, it's cheaper for a business and simpler for an applicant to apply directly to a business.

  36. I get a "99+ New Jobs" notification every couple of days in a highly specific filter setting for the Melbourne inner city.. There's no fucking way there's that many new jobs being advertised every 48-72hrs here in Melbourne right now…

  37. In regard to recycling old job posts, this also occurs on Seek for jobs here in Australia… If you use a few filters like I do, you'll still get a few hundred job ads appear, but when you start going through the pages to check out a larger number of jobs, you start seeing job ads being repeated every couple of pages.. One ad on page 1 will be just a few hours old, it'll appear again on page 3 and be a week old, it'll appear again on page 7 and be a fortnight old, maybe a month old… Long story short, these recruitment companies keep uploading copies of the same job description for the same company over and over and over again.. So if you see that your filtered search has, say, 350 listings, you can pretty much scale that back to under 100 in reality… The problem is that the government are fucking retarded and they use these initial numbers to brag about economic growth, when in actuality, the REAL number of new jobs is far, far, far lower than what appears on an initial search number… Equally disappointing is the fact Seek do not even try to prevent this from happening by having a duplicate listing prevention system in place. Though I bet if they did, the dodgy as fuck recruiters would just circumvent it by changing a couple of words on each listing..

    I get a "99+ New Jobs" notification every couple of days in a highly specific filter setting for the Melbourne inner city.. There's no fucking way there's that many new jobs being advertised every 48-72hrs here in Melbourne right now…

  42. Years and years ago I tried working in Australia and the UK through job agencies, the sort of private employment agency common before internet job sites like Seek.

    My experience was the huge window of job ads every agency had was out of date by months, they were job ads placed up when there was a vacancy, and they never took the ad down. One agency I questioned indicated they didn't even place people into the ads anymore, the receptionist gave me a bored response that when they had any jobs I should come in. (How would I know??) And if they took all the ads down from their window they would just have a blank window. Was very annoying.

    I'm sure the same exists on online job ad sites. Anything expired could stay for months. And the crushing defeat of job seekers – every job ad has different questions so you can't just submit something to each job. Spending time completing the requirements of the posts must be crushing.

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