"Groupon cuts another 500 employees in the second round of layoffs", 31 January 2023

Groupon has laid off another 500 employees in a bid to cut costs, the company said in an SEC filing... The e-commerce company had cut 500 jobs — nearly 15% of its workforce then — previously in August 2022.

The company said that this new set of layoffs will be spread across the first two quarters of this year.

“On January 25, 2023, the Board of Directors of Groupon, Inc. approved the second phase of the Company’s multi-phase restructuring plan, which is part of the Company’s comprehensive cost savings plan, announced in August 2022. This second phase is expected to include an overall reduction of approximately 500 positions globally, with the majority of these reductions expected to occur by the end of the second quarter of 2023,” Groupon said in a filing.

The latest round of cuts will impact almost 20% of its employee base — the company reportedly had 2,500 employees in late December.

TechCrunch sent several emails to Groupon before publishing to get more info about the layoffs, but the company didn’t respond at the time of writing.

The company said in the SEC filing that it will save millions in annual costs because of the job cuts.

In the last 12 months, Groupon stock has dipped more than 72%.