Groupon is cutting about 10% of its workforce

Remember a few years ago when Groupon turned down a $6 billion acquisition deal from Google? Yeah, I can pretty much guarantee the company is regretting that decision. To be fair, the company was growing at a ridiculous pace back then and staying independent actually seemed like a good move, but Groupon’s early success has long-since waned, and the company has spent the last two years restructuring in an effort to get it together. The process of restructuring is now seeing more than 1,000 jobs, which is about 10% of Groupon’s workforce, being cut, and the company is shutting down its operations in seven countries.