Groupon cuts 1,100 jobs worldwide

Groupon cuts 1,100 jobs worldwide

Groupon has decided to reorganize its international activities: the online coupon seller announced to cut 1,100 jobs worldwide over the next few months and it will also pull out of seven countries.

1 out of 10 jobs lost

Currently, Groupon employs 10,686 people, which means that one out of each ten jobs will be lost. The company will also pull out of Morocco, Panama, the Philippines, Puerto Rico, Taiwan, Thailand and Uruguay. The company had already left Greece and Turkey last month and sold its majority stake in South Korean Ticket Monster in March.

 

Groupon was active in more than 40 countries when it was at the peak of its popularity, but its international activities are not going as fluently as expected - especially as it has not been able to strike any long-term deals. This is why the board has now intervened: "We need to focus our energy and dollars on fewer countries. Evolution is hard, but it’s a necessary part of our journey", COO Rich Williams said in a blog on the website.

 

The entire ordeal will cost Groupon some 35 million dollars, mainly because it will have to pay severance packages.

Questions or comments? Please feel free to contact the editors


More than half of American families subscribed at Amazon

21/10/2017

An astonishing ninety million Americans have joined Amazon’s subscription program, Amazon Prime. Considering there are 126 million families in the United States, it is clear that Amazon has a tight grip on its home territory. What can Europe learn from this?

Safe.Shop is new global eCommerce trust mark

16/10/2017

Safe.Shop is the world’s first global eCommerce trust mark. Currently, only twelve countries signed up, but that number should increase in the future.

Fashion platform About You launches in the Netherlands and Belgium

11/10/2017

German fashion web shop About You, the second largest online European fashion retailer, officially launched in Belgium and the Netherlands following an unofficial launch in the Netherlands some time ago.

Alibaba invests billions in physical retail

28/08/2017

Over the past two years, Chinese eCommerce giant Alibaba has spent nearly seven billion euro in physical retail. Its Hema Xiansheng chain already has thirteen supermarkets and it acquired luxury department store Intime from the government in January.

Alibaba exceeds expectations

17/08/2017

Chinese Alibaba has trumped analysts’ turnover and profit expectations with its first quarter results. Its profit even doubled compared to the year before.

Aldi will home deliver in the United States

16/08/2017

German discounter Aldi is starting one-hour deliveries for online orders in the United States, using startup Instacart. Amazon’s reaction was swift: it will test lockers in which custumers can collect items two minutes after ordering them.

Back to top