Chicago-based e-commerce marketplace Groupon lays off 15% of its staff

“Our overall business performance is not at the level we expected and we are taking decisive action to improve our trajectory,” CEO Kedar Deshpande said in a statement posted on the website.

The CEO says the layoffs, as well as a reinvestment in marketing and initiatives that boost customer purchase frequency, will enable the company to generate positive cash flow by the end of 2022.

In a letter to staff, Deshpande said Groupon are North America sales teams to focus on “sales self-service acquisition opportunities”.

It is also reorganizing the company to “focus only on mission-critical activities and lean on more outside support.”

“In addition, we propose to reduce cloud infrastructure and support functions as we complete cloud migrations,” said the CEO.

Groupon also closes his Australia Goods business, more than a decade after its launch there in the first place. Finally, Groupon said it will “rationalize” its real estate footprint to be more consistent with hybrid work.

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