LivingSocial, one of the biggest providers of daily online deals, is to cut 400 jobs, or about 9pc of its workforce, in an attempt to return to profitability.
The company, which is second behind Groupon in the online daily deals marketplace, is set to make most of the job cuts in the US.
According to a report from The Associated Press, LivingSocial spokesperson Andrew Weinstein said all but a few dozen of the cuts will be made in the US, with those operating in sales facing the highest number of cuts, as well as those operating in editorial and customer service.
Weinstein said the job cuts came as a result of LivingSocial’s review of its global operations.
In October, LivingSocial expanded into Ireland, with a new online store offering physical goods.
The Washington, DC-headquartered LivingSocial is a privately held company, but Amazon holds a large stake in the firm. The site, which has more than 40m customers in 21 countries, has offers each day that carry discounts of up to 50pc.
