Groupon To Cut 1,100 Jobs, About 10 Percent Of Work Force
NEW YORK (AP) — Groupon is cutting 1,100 jobs in the coming year, roughly 10 percent of its work force.
The e-commerce and online deals company said in a blog post Tuesday that the cuts are mainly in its international business. Having already closed its operations in Greece and Turkey, Groupon says it is also leaving Morocco, Panama, the Philippines, Puerto Rico, Taiwan, Thailand and Uruguay.
The Chicago company says it wants to focus its money on energy on fewer countries.
Groupon Inc. says the cuts will be essentially done by September 2016 and lead to pre-tax charges of up to $35 million, the bulk of it in the current quarter.
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