Report: LivingSocial to Lay Off Up to 9% Of Work Force

LivingSocial could lay off 400 employees, or nearly 9% of its 4,500-strong work force, starting as soon as today, the Washington Business Journal reports. The cuts are expected to "span a wide range of positions and markets," the paper said, citing "sources with knowledge of the daily deal giant’s plans," whom it did not name.

The news come as Andrew Mason, chief of daily deals competitor Groupon (Nasdaq: GRPN  ) , faces increasing criticism. Groupon's board meets today in Chicago and is expected to discuss whether the company needs new leadership.

Mason defended his vision in an interview at Business Insider's Ignition conference: "I think we have the strategy, I think we have the team and the board sees that," he said.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2132621, ~/Articles/ArticleHandler.aspx, 10/26/2016 2:26:53 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 5 hours ago Sponsored by:
DOW 18,169.27 -53.76 -0.30%
S&P 500 2,143.16 -8.17 -0.38%
NASD 5,283.40 -26.43 -0.50%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/25/2016 4:00 PM
GRPN $5.32 Up +0.15 +2.90%
Groupon CAPS Rating: *