Home From the Wires LivingSocial to ax hundreds of jobs

LivingSocial to ax hundreds of jobs

| Print |  Email
Thursday, November 29, 2012
Washington Business Journal: LivingSocial, a social commerce company that has raised more than $800 million in funding, entered 2012 with a staff of roughly 5,000. Now it says it will lay off 400 in the U.S.

The layoffs raise a host of questions about the future. First and foremost: LivingSocial in July won an up-to $32.5 million tax break from the D.C. Council on the promise that it would stay based in D.C. The legislation calls on the company not only to maintain and expand its 1,000-employee base in the District, but to move into a new headquarters of at least 200,000 square feet. With a smaller local staff, opening up a larger D.C. office becomes far less practical, raising questions about whether LivingSocial will be able to claim that credit when it takes effect in 2016.

Read more.

 

Comments   

 
Guest
0 #1 RE: LivingSocial to ax hundreds of jobsGuest 2012-11-29 05:57:12
Investors put $813M in @LivingSocial, which is now making mass #layoffs as we speak. LivingSocial may be 1 of biggest #venturecapital backed failures. Ever. (PrivCo: http://bit.ly/V7fblm )
Quote | Report to administrator
 

More Articles

Healthcare Perspective

November/December 2014
Wednesday, October 22, 2014
BY KIM MOORE

A conversation with Majd El-Azma, president and CEO of LifeWise Health Plan of Oregon, followed by the Healthcare Powerlist.


Read more...

Two Sides of the Coin

Contributed Blogs
Wednesday, October 22, 2014
22 twosidesBY JASON NORRIS

Historically, when the leaves fall, so do the markets. This year, earnings, Europe, energy and Ebola have in common? Beyond alliteration, they are four factors that the investors are pointing to for this year’s seasonal volatility.


Read more...

Downtime

November/December 2014
Wednesday, October 22, 2014
BY JESSICA RIDGWAY

Bob Dethlefs, CEO of Evanta, balances work and play.


Read more...

Political Clout

November/December 2014
Wednesday, October 22, 2014
BY KIM MOORE

Businesses spend billions of dollars each year trying to influence political decision makers by piling money into campaigns.


Read more...

A Complex Portrait: Immigration, Jobs and the Economy

November/December 2014
Wednesday, October 22, 2014
BY JOE ROJAS-BURKE & KIM MOORE

Oregon Business reports on the visa squeeze, the skills gap and foreign-born residents who are revitalizing rural Oregon.


Read more...

I Know How You Feel

November/December 2014
Wednesday, October 22, 2014
BY JESSICA RIDGWAY

Most smartphones come equipped with speech recognition systems like Siri or Cortana that are capable of understanding the human voice and putting words into actions. But what if smartphones could do more? What if smartphones could register feeling?


Read more...

Innovation: a critique

News
Wednesday, October 08, 2014
1008 innovation thumbBY LINDA BAKER | OB EDITOR

A Design Week panel discussion raises questions about how innovative we really are.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS