Groupon Layoffs
August 2022
Groupon announced a layoff affecting 500 employees (15% of its workforce) in August 2022. The company operates in the Retail sector.
500
15%
Aug 8, 2022
About
On August 8, 2022, Chicago-based e-commerce company Groupon laid off over 500 employees, representing approximately 15% of its 3,416-person workforce. The cuts impacted various teams, including merchant development, sales, recruiting, engineering, product, and marketing. CEO Kedar Deshpande cited that overall business performance was below expectations, prompting decisive actions to improve the company's trajectory. As part of a restructuring, Groupon is focusing solely on mission-critical activities, reducing its North America sales teams to emphasize self-service merchant acquisition, closing its Australia Goods business, and rationalizing its real estate footprint. The company aims these measures, alongside reinvestments in marketing, to achieve positive cash flow by the end of 2022, amidst a challenging market and increased competition in the online deals space.
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