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Groupon To Lay Off Another 500 Employees

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Groupon was forced to lay off an additional 500 employees as it seeks to reduce costs. 

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The company announced the news in an SEC filing filed last week.

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The e-commerce firm had cut 500 jobs -- or nearly fifteen percent of the employees at the time -- before August 2022.

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The company announced that the new batch of layoffs would be spread over the first two quarters of the year.

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“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. 

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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.

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