LivingSocial lays off 20 percent of its staff under new CEO

Shawn Knight

Posts: 13,000   +130
Staff member
Daily deals specialist LivingSocial is scaling back its operations. The company recently announced plans to shed a fifth of its workforce in preparation for a major restructuring effort according to a report from Re/code.

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Posts: 16,430   +5,214
With a loss of 32 million against 64 million in revenue, they should just file Chapter 11 and be done with it. Oh wait, then the new CEO wouldn't get his fat paycheck. Never mind.:D