Groupon to Lay Off or Furlough 2,800 Workers, Initiates Poison Pill
Hammered by the SARS-CoV-2 coronavirus, Groupon (NASDAQ: GRPN) is taking significant measures to protect its business. These include a big set of furloughs and layoffs, and a new "poison pill" defense for its shareholders.
The online discount specialist revealed in a regulatory filing that it will let go of around 2,800 employees worldwide, either through layoffs or furloughs. This number comprises over 40% of the company's total workforce. As with other restructuring measures the company is taking, the job dismissals will occur in a series of phases over the coming months.
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Source Fool.com
