Groupon cuts over 500 staff, plans to focus ‘only on mission-critical activities’ from now on

Chicago-based Groupon today laid off more than 500 of its employees — 15% of its 3,416-person headcount — according to posts from former employees on social media. The reduction impacted workers in teams including merchant development, sales, recruiting, engineering, product and marketing.

Groupon confirmed the layoffs to TechCrunch after the publication of the story.

“Our overall business performance is not at the levels we anticipated and we are taking decisive actions to improve our trajectory,” CEO Kedar Deshpande said in a statement provided to TechCrunch. The chief executive says that the layoffs, as well as a reinvestment in marketing and initiatives that drive customer purchase frequency, will set the company up to generate positive cash flow by the end of 202

*Source: https://techcrunch.com/2022/08/08/groupon-cuts-over-500-staff-as-the-downturn-takes-its-tolll/