Groupon orders more layoffs as it reorganizes

Tuesday, 31 January 2023, 20:03:32
The online deals provider says it is cutting 500 people, adding to the 500 it laid off last year.
— Chicago Sun-Times

Groupon Layoffs 2023: What to Know About the Latest GRPN Job Cuts

Tuesday, 31 January 2023, 16:25:50
Groupon (NASDAQ: GRPN ) said it will cut 500 jobs in its second round of layoffs. Shares fell almost 10% on the day of the announcement but recovered 2% overnight. Groupon was expected to open on Jan. 31 at $8.50 per share, a market capitalization of about $260 million. Groupon came public in November 2011 in what was then one of the biggest Internet initial public offerings (IPO) since Google , now called Alphabet (NASDAQ: GOOG ,NASDAQ: GOOGL ). At one point GRPN stock traded for over $400 per share. Fall of an Internet Icon The latest layoffs will bring Groupon’s employee base to about 2,000. Combined with a previous layoff last summer, Groupon will have let go of about one-third of its staff. The idea behind Groupon was that consumers would combine their buying power online to get better pricing. Small companies would make offers conditional on the purchases. The idea seemed powerful at the time but has since become something of a joke. It has been bypassed in the market by Rakuten (OTCMKTS: RKUNY ) and Paypal’s (NASDAQ: PYPL ) Honey , neither of which require group commitments.
— InvestorPlace

Groupon Prepares To Jettison 500 Jobs As Costs Weigh On Business: What You Need To Know

Tuesday, 31 January 2023, 14:26:34
Groupon, Inc (NASDAQ: GRPN ) announced the second phase of its restructuring in a new SEC filing. It will involve the global downsizing of 500 employees, with most of these reductions likely to occur by the end of the second quarter of 2023 . Groupon said expects to record total pre-tax charges of between $10 … Full story available on Benzinga.com
— Benzinga

Groupon has laid off another 500 employees in an effort to cut costs

Tuesday, 31 January 2023, 13:18:13
Groupon has laid off another 500 employees in an effort to cut costs. In August 2022, the e-commerce company cut 500 jobs, or nearly 15%…
— StartupNews.fyi

Groupon (NASDAQ:GRPN) to Lay Off Another 500 Employees

Tuesday, 31 January 2023, 13:06:56
Chicago-based e-commerce marketplace Groupon (NASDAQ:GRPN) plans to lay off nearly 500 employees globally as part of its multi-phase restructuring …
— TipRanks