Skip to comments.LivingSocial expected to lay off 400 in U.S.
Posted on 11/28/2012 2:39:05 PM PST by 2ndDivisionVet
LivingSocial Inc. is slated to launch a major round of layoffs Thursday, with as many as 400 job cuts expected across its U.S. workforce, according to sources with knowledge of the daily deal giants plans.
Those cuts are expected to span a wide range of positions and markets, including in LivingSocials home turf of D.C., the sources said. It is not known how many will occur in D.C., where LivingSocial maintains six offices downtown.
A LivingSocial spokesman declined to comment.
The layoffs raise a host of questions about the future. First and foremost: LivingSocial in July won an up-to $32.5 million tax break from the D.C. Council on the promise that it would stay based in D.C. The legislation calls on the company not only to maintain and expand its 1,000-employee base in the District, but to move into a new headquarters of at least 200,000 square feet. With a smaller local staff, opening up a larger D.C. office becomes far less practical, raising questions about whether LivingSocial will be able to claim that credit when it takes effect in 2016...
(Excerpt) Read more at bizjournals.com ...
Ok, this is a social networking company. Maybe I don’t understand it’s intricacies, but just how many employees does an outfit like this need?
What is Living Social and why is it getting government funding?
.....which was my second question.
A mini-dot com bubble all over again
November 28 , 2012
Awrey’s in Michigan- 150 Layoff Notices
Bogalusa Medical Center - 47 Layoff Notices
American Superconductor AMSC - 25% of Workforce
City of Jellico Tenn. - Layoffs Possible
Update: Wilkes-Barre PA - Will Announce Layoffs Soon
Vivendi ( International ) - 856
Bankia ( Spain ) - About 6,000 Jobs
Meriter Hospital in Madison Wis. - 50
Lehigh-Northampton Airport Authority - 8
I’m sure all these Smart People can get jobs with IRS enforcing Obamacare
I’ve bought quite a few deals from Living Social. I got a sonic toothbrush last week for almost a quarter of normal retail, and am getting my ducts cleaned next week for over half the normal price. I’ve also used a few restaurant deals which were nice because I don’t eat out often normally. I hope they don’t go out of business. I’m also hoping they’ll offer a window washing deal again. I could kick myself for passing up two of them.
My wife has used Groupon several times but never Living Social. Good deals, huh?
Living Social has both national and local deals. Because I live in a large city, I get more local offerings than when I lived in a smaller one. I’ve used a 1/2 off museum ticket and at least 3 restaurant deals locally. The other ones have been national. I bought 2 of my adult children very nice Foreman grills that were a great bargain. If you get 3 friends to buy the deal, then the deal is free for you. I haven’t used Groupon, but I think it’s similar to Living Social. My adult daughter uses both.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.