Groupon to cut 1,100 jobs globally

Groupon plans to cut about 1,100 jobs globally, as part of a reorganisation of its international operations.

The company expects pretax charges of as much as $35 million as a result of the reductions, including about $22 million to $24 million in the third quarter. Most charges will relate to employee severance and compensation benefits and will be paid in cash, Groupon said Tuesday.

Bloomberg