LivingSocial Lays Off 10 Percent of Its Workforce
Daily deals site LivingSocial is laying off 400 employees, or 10 percent of its global workforce, CNNMoney has confirmed.
Daily deal site LivingSocial is laying off 400 employees, or 10 percent of its global workforce, CNNMoney has confirmed.
The sales, customer service, and editorial teams are taking the hardest hit, with most of the layoffs happening in the U.S.
In an unrelated move, Eric Eichmann, the company’s president of international operations, has also stepped down.
LivingSocial spokesman Andrew Weinstein told CNNMoney, “We’ve gone through two years of hypergrowth, from roughly 450 employees to 4,500. The space has gone through such growth that we needed to catch our breath.”
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