Groupon on Tuesday announced plans to cut 1,100 jobs and close operations in seven countries and said it has filed a statement with the Securities and Exchange Commission to that effect. The biggest cuts will hit its customer service and international deals centers, as the company regroups to leverage new efficiencies.
The restructuring will be “substantially complete by September 2016,” the company stated in its SEC brief. Groupon anticipates related charges of $35 million, with $22 million to $24 million arriving in the third quarter.
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Groupon Rethinks Its Road Map
Posted by: Quinten Plummer September 23, 2015 04:49 PMGroupon on Tuesday announced plans to cut 1,100 jobs and close operations in seven countries and said it has filed a statement with the Securities and Exchange Commission to that effect. The biggest cuts will hit its customer service and international deals centers, as the company regroups to leverage new efficiencies.
The restructuring will be “substantially complete by September 2016,” the company stated in its SEC brief. Groupon anticipates related charges of $35 million, with $22 million to $24 million arriving in the third quarter.