Groupon To Cut About 1,100 Jobs Worldwide

H

HardOCP News

[H] News
Joined
Dec 31, 1969
Messages
0
I wanted to make a Groupon severance package joke here but it's not really funny when this many people are losing their jobs.

Groupon Inc, the operator of daily deals website groupon.com, said it would cut about 1,100 jobs globally as it restructures operations, mainly outside North America. Groupon said it expected to incur pretax charges of up to $35 million, including $22 million-$24 million in the third quarter, related to the job cuts.
 
Sucks for the people losing their job. I stopped using it years ago when restaurants and bars stopped showing up. It went from great to offering me 10% off at a nail salon 50 miles away.
 
Domingo said:
Sucks for the people losing their job. I stopped using it years ago when restaurants and bars stopped showing up. It went from great to offering me 10% off at a nail salon 50 miles away.
Click to expand...

Yup, once restaurants realized that the typical Groupon user was a serial discount abuser (unlikely to come back and pay full price), they realized they were giving away their product for zero benefit.

Once that happened, and every other company got in on the coupon trade, Groupon's business model was doomed.

I still laugh when I remember Google was going to hand this POS billions of dollars :D
 
I quit using them when I realized you could just ask the business for the Groupon deal without having to buy the Groupon. It worked out better for both of us.
 
The crazy thing is that after rejecting the Google offer, Groupon's market cap has been more than $6 billion at various times between 2011 and early 2014.
 
You must log in or register to reply here.
Back
Top